Belarus
Europe · Pop. 9.1M · #50 startup ecosystem by EV
1 Enterprise value
How much Belarus’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Belarus, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
2 VC investment
How much venture capital flows into Belarus
VC investment into Belarus-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
3 Startup funnel
Belarus's startup funnel
Companies headquartered in Belarus at each stage today, by total VC raised. Hover a bar for the split.
Source: Dealroom.co
4 Latest quarter
Belarus's latest quarter in venture capital
VC raised by Belarus-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by Belarus-headquartered companies…
5 Largest rounds
Largest funding rounds in Belarus
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a company headquartered in Belarus, grouped by Dealroom sector.
Largest rounds in Belarus - 2024–2026
6 Founder origins
Where Belarus's unicorn founders build
15 founders born in Belarus are behind 10 unicorns; 80% of those were built in the US. Origins are resolved from biography and education history, not current address. Compare with the other origin countries in Europe, ranked by founders or per 1M inhabitants.
7 Location comparison
How Belarus stacks up
Compare Belarus with similarly sized ecosystems in Europe — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Europe ranked by combined EV. Belarus's row is highlighted (#12).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.2T | 4.6× | 229 | $27.3B | 21.1K |
| 2 | Germany | $409B | 4.2× | 99 | $8.3B | 9,034 |
| 3 | France | $404B | 5.4× | 69 | $8.3B | 9,102 |
| 4 | Netherlands | $367B | 3.2× | 46 | $3.4B | 3,954 |
| 5 | Sweden | $264B | 5.4× | 56 | $3.5B | 3,389 |
| 6 | Switzerland | $220B | 3.7× | 50 | $4.2B | 3,134 |
| 7 | Denmark | $141B | 4.3× | 24 | $1.9B | 1,746 |
| 8 | Belgium | $113B | 7.4× | 13 | $1.1B | 1,990 |
| 9 | Ireland | $107B | 4.7× | 26 | $1.2B | 1,974 |
| 10 | Spain | $105B | 4.7× | 18 | $3.3B | 4,637 |
| 11 | Finland | $80.6B | 4.0× | 14 | $2.2B | 1,808 |
| 23 | Belarus | $12.9B | 2.1× | 4 | $5.5M | 74 |
More data
Explore Dealroom data →Get the full Belarus ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.