Impetus Capital focuses on companies in Emerging Europe, especially those with a Bulgarian or Romanian connection, that earn roughly €10–20M in revenue—too big for early venture capital but too small for Western growth investors—and takes them public through small, carefully managed IPOs, staying on afterward as a long-term shareholder instead of selling at listing. Rather than just providing funding, the firm coordinates banks, auditors, lawyers, exchanges, and analysts to make these public listings succeed, drawing on a cofounder’s background helping build Bulgaria’s capital markets in the 1990s, as seen in its work taking Shelly public through an IPO, follow-on offering, and dual Frankfurt listing to become one of the region’s first publicly traded unicorns.