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Lithuania's Practica Capital launches new fund to invest in Baltic ventures
BC, Vilnius, 18.12.2018.
Print version
Print versionithuania's venture capital firm Practica Capital said on Tuesday it has launched a new fund named Practica Venture Capital II to invest in Baltic innovation- and technology-driven ventures, reported LETA/BNS.
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"This is our third fund under management with a natural evolution towards regional Baltic-focus venture capital investment strategy and Lithuania as one of our prime target markets," said Silvestras Tamutis, a partner at Practica Capital.
The new fund will focus on early-stage venture capital investments in Lithuania, Latvia and Estonia and Baltic-origin ventures in Europe. It will invest 200,000 euros to 2 mln euros per venture.
The state-owned credit guarantee agency Invega has committed 15 mln euros in public funds to the 22-mln-euro fund, with the rest invested by Practica Capital and a number of other local and international investors. The fund aims to attract up to 50 million euros in investments over the next three to 12 months.
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