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

2018-05-02
Photos by Judita Grigelytė (vz.lt)

We are raising our third fund, Practica Venture Capital II, targeting €40M (max €50M) in commitments from INVEGA, which is advised by the EBRD, other existing and new investors.

The new fund will focus on early-stage venture capital (“VC”) investments in the Baltics (Lithuania, Latvia, Estonia) and Baltic-origin (e.g. Baltic diaspora, other Baltic connection) ventures in Europe. Selectively, it will also invest in the neighbouring EU and ventures from non-EU neighbours relocating to the Baltics. The fund will invest from €200k to €2m+ in seed, early and select growth stage ventures as cross-industrial investor focusing on backing great teams behind the innovation- and technology-driven businesses. 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 an emerging 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 be an established player in this ecosystem and tap into the new opportunities.

Established in 2011, Practica Capital is a dedicated Baltic VC focusing on investments in the Baltic and Baltic-origin seed, early stage, select growth stage technology ventures. It has also been recognised with several international industry awards and nominations

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

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.

"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

More about Practica Capital: http://practica.vc/en/about.

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