Practica Capital raising €50M venture capital fund to invest in the Baltic and neighbouring European tech-driven ventures and SMEs

Photos by Judita Grigelytė (vz.lt)

We are raising our third fund, Practica Venture Capital II, targeting up to €50M in commitments from INVEGA advised by the EBRD, other existing and new investors.

The Fund will focus on early stage venture capital (“VC”) investments in the Baltic (Lithuania, Latvia, Estonia) & Baltic-origin (e.g. Baltic diaspora in abroad) innovation- & technology-driven (“tech-driven”) ventures. Selectively, it will also invest in non-Baltics-origin ventures in other Baltic Sea Region neighbours & from the Eastern neighbours (e.g. Belarus, Russia, Ukraine), relocating to the Baltics as a springboard to the EU & beyond.

The new VC fund will invest from €200K to €2M+ in seed, series A and select growth stage ventures (e.g. bootstrapped ventures, young high-growth tech SMEs on a path of or reaching sustained growth) and will follow-on its investee companies from seed to growth stages. It will have tech-driven, cross-industrial sector focus investing in ventures in a broad range of sectors, verticals and business models. We expect the fund to start operations 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.

Practica Capital is one of the leading and most active VCs in Lithuania & Baltics. We have also been recognised as one of the best emerging VC&PE firms in Central & Eastern Europe and Russia. We are a dedicated Baltic VC focusing on investments in the Baltic tech- driven ventures in seed, early stage and select growth stages.

Currently, we manage Practica Seed Capital and Practica Venture Capital funds from the 2012 vintage focused on Lithuania with €24m under management. To date, Practica has made over 40 investments, 12 of which realised, incl. exits to AST&Science, InVisionWürth Group. We are also one of the most experienced teams in the region with 59 investments (current and previous), €39m invested, 27 realised at €60m/2.8x, incl. incl. exits to Moog Inc. and on Nasdaq Baltic, total realised & unrealised value at €95m/2.4x. 

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, EBRD VC, BaltCap), 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 a lead investor with strong co-investment philosophy and successful track record of co-investments with other VCs and angels, including BaltCap, Change VenturesDöhler GroupEBRD Venture CapitalIntel Capital, InventureKarma VenturesKima Ventures, Midform, Nextury VenturesOctopus Ventures, Revo CapitalVostok Emerging Finance and others. 

"We have built a platform 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, also check the article in the printed version of Verslo Žinios newspaper or a digital one at https://bit.ly/2HUFkaD

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