Lithuanian VC Practica Capital launches new €70M fund

The Vilnius-based venture capital firm Practica Capital has announced the opening of its third fund to invest in startups with Baltic founders from pre-seed to Series A round. The fund has already completed the first closing of €32 million, and aims to increase its capital to €70 million.

• Founded in 2011, Practica Capital is one of the most active Baltic VC funds, due to AIN.Capital. The firm focuses on marketplace, SaaS, and deeptech startups.
• Practica Capital managed three funds with a total value of €52 million and has more than 60 investments. Its portfolio includes Softneta, Sonarworks, Aurora Propulsion, Eneba. 
• The new €70 million fund aims to invest in 25 companies, with a single ticket of up to €3 million primarily at the seed stage, making several initial investments in pre-seed and Series A. More than 50% of the fund will be allocated for follow-on investments. 

“We fundamentally believe success stories can come from any sector, however, it is not yet reasonable to expect any sector to deliver numerous success stories by virtue of its small population and young ecosystem. Hence, we do evolve our fund strategy in parallel with the tech ecosystem and always center it around founders.”

says Arvydas Bloze, partner at Practica

• The new fund first close is supported by the Estonian and Lithuanian branches of Swedbank, cofounders and early team members of Lithuania’s first unicorn Vinted, and venture builder Tesonet.