Tera Ventures, an Estonian venture firm, is seeking to raise 55 million euros for its second fund. The fund will invest in about 30 seed-stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe.
TALLINN, Estonia–(BUSINESS WIRE)–Tera Ventures announces a new fund to be closed in 2018, Tera Ventures Fund II with a target size of €55 million (1st closing targeted for early this year). The majority of the capital has been committed by some of the most prolific Estonian, pan-European, and global investors. The fund will invest in about 30 seed stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe (CEE). The Tera team members have invested in early stage tech since 2009 and our relationships spread across highly lucrative regional tech hubs with untapped potential.
“We will explore new technologies and business models to support founders building the infrastructure that will deeply impact the future of our digital lives. This will complement our efforts with our current portfolio companies – we are proud to work with some of Europe’s fastest growing and most innovative startups such as; Monese, a challenger bank; Lingvist, an AI based language learning app; and Jobbatical, a platform to help techies and creatives find jobs around the world.” said Andrus Oks, Founding Partner. “We are also proud of our exceptional founders, who led the exits of GrabCad, Modesat, and Vitalfields among others. Seed-stage capital is still scarce, but our region is a global innovation powerhouse, over-populated with successful startups, scale-ups and exits. Many later-stage Tier-1, global VCs have recognised this, including those who have invested in our portfolio companies.”
Tera Ventures was established in 2016 in Tallinn, Estonia, by three Founding Partners. Andrus Oks, Stanislav Ivanov both have entrepreneurial backgrounds and have managed three early-stage funds creating over €150 million in enterprise value in nine exits to date; and, James McDougall, who has extensive operational experience as CEO and Managing Director for several early-stage, private and public companies where he has raised over €250 million for his companies from an extensive global network of investors.
Complementing the team are California-based Venture Partner, Erik Anderson, who cultivated multiple cohorts of early-stage startup teams at Techstars in London and later Wise Guys in Tallinn and Operating Partner, and Martin Hendre, who has extensive institutional equity investor and asset management company management experience. In May of 2017, Tera Ventures closed Fund I through winning the bid for re-organization of the funds already managed by team members under SmartCap; the 2008 vintage fund has currently global top quartile performance.
About Tera Ventures – Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Estonia, Scandinavia and CEE disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to – the UK, the US, and Asia. With presence in Estonia, Finland, and California, Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from seed stage to successful exit. For more information go to: www.tera.vc