The fund will focus on investments in the Baltic (Lithuania, Latvia, Estonia) and Baltic-origin (e.g. Baltic diaspora in abroad) innovation- & technology-driven ventures (startups, scale-ups) and SMEs (self- or externally-funded being on a path or reaching sustained growth). It will also invest in ventures in the neighbouring EU (other Baltic Rim, Central, Northern and Western Europe) and from the Eastern neighbours (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.
The new VC fund will invest and follow-up from €200K to €2M+ in seed, late seed, pre-A, A and B funding rounds as well as in tech-driven SMEs in need of expansion, scale-up and growth capital. It will follow a generalist strategy focusing on investments in the Baltic and Baltic-origin innovation- & technology-driven ventures and SMEs in a broad range of sectors, verticals and business models. We expect the fund to start investing in the second half of 2018.
“We will continue backing great Baltic, Baltic diaspora and foreign teams delivering on a regional, international, global opportunity. We are a founder-centric Baltic VC partner who knows what it takes to build a success story from the region and beyond,” said Donatas Keras, Partner at Practica Capital.
Baltics are becoming a leading technology hub originating, producing and contributing to a growing number of successful and world-renowned start-ups, scale-ups, unicorns, fast-growth tech companies and exits punching well above their weight with tech innovation. We are excited to contribute to the growth of the ecosystem and be well-positioned to tap into the new opportunities.
Currently, we manage Practica Seed Capital and Practica Venture Capital funds from the 2012 vintage. To date, we have made over 40 investments, 12 of which exited, incl. exits to AST&Science, InVision, Würth Group. Our existing funds’ and previous individual track record of the Practica Capital team is 59 investments, €39M invested, of which 19 exited for €89M, incl. exits to Moog Inc. and on Nasdaq Baltic. Our unexited tech portfolio includes CGTrader (World’s largest 3D model marketplace co-invested with Intel Capital and Karma.vc), Trafi (World’s first urban mobility as a service co-invested with Octopus Ventures and EBRD VC), TransferGo (another rapid-growing fintech company in Europe co-invested with Vostok Emerging Finance), RoyaltyRange (data/analytics), Rubedos (AI-driven robotics), Softneta (medical device) and many more.
Practica Capital is also a lead investor with strong co-investment philosophy and successful track record of co-investments with other VCs and angels, including BaltCap, EBRD Venture Capital, Intel Capital, Inventure, Karma Ventures, Kima Ventures, Octopus Ventures, Vostok Emerging Finance and others.
"We have built a platform and delivering on promises with our current funds. We have proven as a reliable and tested partner in the eyes of the ecosystem, gained recognition among local and foreign institutions, enjoy momentum built,” said Silvestras Tamutis, Partner at Practica Capital.
For more details regarding the opportunity to invest in our fund or receive an investment for the fund, please get in touch with our team.
For information on PitchBook pease visit: https://bit.ly/2J9HFMd. For more information in Lithuanian business media please visit https://bit.ly/2I35JR7, check the article in the printed version of Verslo Žinios newspaper or a digital one at https://bit.ly/2HUFkaD.
Practica Capital manages Practica Seed Capital fund of 8 million EUR and Practica Venture Capital fund of 15.7 million EUR, both established under the JEREMIE initiative, managed by the European Investment Fund, Ministry of Economy, and Ministry of Finance, and financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme of Lithuania. The funds provide early and later stage financing to Lithuanian SMEs. Since its inception in 2011 Practica Capital has made investments in 42 companies.Back to news