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.

PRESS RELEASE

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.”

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