About

Established in 2011, Practica Capital is one of the most active and leading VC firms in Lithuania and the Baltics. We are a dedicated Baltic VC investing in ventures, which have an ambition to become regional, international, global players or target leading positions in their national and neighbouring markets. 

We focus on investments in the Baltic (Lithuania, Latvia, Estonia) and Baltic-origin (e.g. Baltic diaspora in Europe and beyond) innovation- and technology-driven ventures. Selectively, we also invest in the neighbouring Central and Northern Europe and from the Eastern neighbours (e.g. Belarus, Russia, Ukraine, other Eastern Europe), relocating to the Baltics to use them and their start-up visas as a springboard to the EU markets and beyond. 

We invest from €200K to €2M+ in seed (seed, late seed), early stage/series A (pre-A, A) and select growth stage ventures (e.g. bootstrapped ventures, young high-growth tech SMEs on a path of or reaching sustained growth) and follow-on our investee companies from seed to growth stages.

Practica Capital provides equity and equity-related investments targeting minority positions and takes an active investor role with an aim to achieve long-term value growth and interests clearly aligned between us, portfolio company founders, other shareholders,  investors and the management. We are Baltic VC partners with active investee management who work closely with entrepreneurs and management teams. We provide value-added advice on the strategic and operational level, identify gaps and connect to our relevant network for specific expertise, advice and additional funding.

Practica Capital is cross-industrial Baltic VC investor focusing on backing great teams behind Baltic, Baltic-origin and neighbouring European tech-driven businesses delivering on a regional, international, global or local opportunity in a broad range of sectors, verticals and business models.

We are also the most active Baltic syndicate partner leading, facilitating, backing investments and follow-on rounds with local, regional, international VCs, corporates and angels, including BaltCap, Change VenturesDöhler GroupEBRD Venture CapitalIntel Capital, InventureKarma VenturesKima Ventures, Midform, Nextury VenturesOctopus Ventures, Revo CapitalVostok Emerging Finance and others. 

Rising Star: Best CEE & Russia Private Equity Fund

Private Equity Exchange & Awards (2016, 2017) 

Practica Capital manages Practica Seed Capital and Practica Venture Capital funds from the 2012 vintage with €24m under management. The funds were launched under the JEREMIE initiative in Lithuania, which is administered by the European Investment Fund (EIF), Ministry of EconomyMinistry of Finance and funded from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme of Lithuania. They are financed by the EIF-managed JEREMIE fund-of-funds, our team and a number of other investors. Currently, we are raising our third fund, Practica Venture Capital II, targeting €40m (max €50m) in commitments from INVEGA advised by the EBRD, other existing and new investors. We expect the fund to start investing in the second half of 2018.

As part of the Practica Seed Capital fund, we run Startup.lt accelerator, which helps startups build an MVP, gain initial traction and growth.

To date, Practica Capital has made over 40 investments, 12 realisations, incl. Gaudrė (light engineering) to Würth (Germany), NanoAvionics (spacetech) to AST&Science (USA), TableAir (officetech) to Midform (Denmark), TrackDuck to InVision (USA), other break-even and small-scale exits.

Our portfolio includes CGTrader (world’s largest 3D model marketplace co-invested with Intel CapitalKarma Ventures), Trafi (world’s first urban mobility as a service co-invested with BaltCapEBRD Venture CapitalOctopus Ventures), TransferGo (another money remittance scaleup in Europe and beyond co-invested with Revo CapitalVostok Emerging Finance), other ventures and SMEs expected to be exited near-to-mid-term.

We are an independent local team of investment professionals and advisors with long-term pan-Baltic VC&PE, investment banking, Big4 and other advisory experience in our firm, BaltCap, CA IBEvli BankHanseatic Capital, MP Investment BankSEB Enskilda, Summa Advisers as well as former entrepreneurs who exited their businesses. We are one of the most experienced teams in the region with 59 investments (current and previous), €39m invested, of which 27 investments realised at €60m/2.8x, incl. exits to a NYSE-listed Moog and on Nasdaq Baltic, total realised & unrealised value at €95m/2.4x.  

We have accumulated know-how. Know-how coming from practical experience. Our team has diverse backgrounds, an extensive track-record in a range of stages, verticals and types of financing with full cycle experience both in success and failure, leading and/or syndicating investments, including entrepreneurial experience. 

We know what it takes to build a success story from the Baltics.

Strategy

Investment
Seed
Series A
Growth
Company
Early startup
Startup
Late startup, SME
Milestone
Launch, MVP, early PMF
PMF, early growth
Scale-up, expansion

Focus

Industry focus
Generalist Technology-driven
Geographic focus
Baltics
Main approach
Active investor Entrepreneurial

Investments

Minimum
€100K
Maximum €2M+

Our team

Donatas Keras

Co-Founder & Partner
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Silvestras Tamutis

Co-Founder & Partner
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Tomas Andriuškevičius

Partner
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Petras Mičiūnas

Co-Founder & Partner
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Dr. Anatolijus Faktorovičius

Co-Founder & Partner Senior advisor
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Arvydas Bložė

CEO of Startup.lt
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Jean-Baptiste Daguené

CCO of Startup.lt Advisor
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Gintas Daniusevičius

CFO
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Dovilė Venclovaitė

Office Administrator
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