HomeEstoniaPractica Capital Closes €80M Fund To Back Startups in the Baltics

Practica Capital Closes €80M Fund To Back Startups in the Baltics

Practica Capital

Practica Capital, a Vilnius, Lithuania-based early stage venture capital firm, closed its third vintage fund, at €80m.

The final closing of Practica Venture Capital III was completed with the European Investment Fund (EIF) joining as a cornerstone investor. European Bank for Reconstruction and Development (EBRD), SEB Investicijų Valdymas, and Investicijų ir Verslo Garantijos (INVEGA) joined Swedbank Investicijų Valdymas and Swedbank Investeerimisfondid as anchor investors. The fund was also supported by many individual LPs, such as the co-founders of Lithuanian unicorns Vinted, Nord Security, and other tech companies, including several Practica Capital previously backed startups.

Led by Donatas Keras, founding partner, Practica will continue its role as lead investor and support the break-out attempts of the early-stage SaaS, Marketplaces, and Deep/Industrial tech startups in Lithuania, Latvia, and Estonia. The strategy is tailored for the seed stage and is equipped to deploy up to €3m in initial tickets and support winning companies up to €8m over the lifetime of the fund. The vehicle has already deployed more than €10m and backed 6 companies, such as Heavy Finance, Sentante, Amlyze, and Breezit. 3 companies are in the term sheet stage.

To date, the firm has made over 60 investments. These include companies such as PVcase, TransferGo, Interactio, Eneba, Ovoko, Trafi, CGtrader, and others. Practica Capital manages four funds with more than €130m in AUM.