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 startup 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. The expected start of investment period is 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.
The 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 the Baltics. The firm has also been recognised as one of the best emerging PE&VC firms in Central & Eastern Europe and Russia.
Currently, the VC firm manages Practica Seed Capital and Practica Venture Capital funds from the 2012 vintage. To date, they have made over 40 investments, 12 of which exited, incl. exits to AST&Science, InVision, Würth Group. Existing funds’ and previous individual track record of the Practica Capital team is 59 investments, €39M invested, of which 19 exited for €89M, including exits to Moog Inc. and on Nasdaq Baltic. Current 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 their fund or receive an investment from the fund, please get in touch with their team or meet them right here at Latitude59 2018!
Practica Capital is the proud sponsor of the Practica Capital dinner that’s happening during our 2018 Investor Day.
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 into 42 companies.