Lithuanian Practica Capital has closed its third and largest fund at €80 million. Practica Venture Capital III has already invested over €10 million in six companies, including Sentante, Breezit, and AMLYZE, with three more in the term sheet stage.
- Practica Capital is an early-stage VC dedicated to supporting Baltic founders. It manages four funds with more than €130 million in assets under management (AUM). To date, the firm has made over 60 investments, including companies like PVcase, TransferGo, Interactio, Eneba, Ovoko, Trafi, CGtrader, among others.
- The final closing of Practica Venture Capital III was completed with the European Investment Fund joining as a cornerstone investor. The European Bank for Reconstruction and Development, Lithuanian bank-owned asset management company SEB, the country’s state-established financial institution INVEGA, and Swedbank joined as anchor investors.
- Existing individual LPs, such as the co-founders of Lithuanian unicorns Vinted and Nord Security, supported the fund once again.
“The majority of capital deployed at early-stage in Europe is domestic. We saw the clear funding gap in a maturing Baltic ecosystem. We are pleased to facilitate the interest of Baltic pension fund managers alongside the continuous support by EIF, EBRD, and INVEGA. Venture capital in the Baltics is finally emerging as an asset class and it is a game changer,” said Arvydas Bložė, partner at Practica Capital.
- The new €80 million fund will continue Practica Capital’s strategy of investing in early-stage tech startups in Lithuania, Latvia, and Estonia. It will target seed-stage investments, offering up to €3 million initially and ongoing support up to €8 million.
