Practica Capital closes €80M fund for early-stage investments in the Baltics

Vilnius-based Practica Capital has announced the final closing of its third and largest fund at an €80 million hard cap. The fund is focused on pan-Baltic early-stage startups.

Information about the final closing of Practica Venture Capital III

• Practica will continue to support early-stage tech startups in Lithuania, Latvia, and Estonia. The strategy is equipped to deploy up to €3 million in initial tickets and support winning companies up to €8 million over the fund’s lifetime. The fund has already deployed over €10 million and backed 6 companies, such as Heavy Finance, Sentante, Amlyze, and Breezit.
• The final closing was completed with the European Investment Fund joining as a lead investor. European Bank for Reconstruction and Development, SEB Investicijų Valdymas, and Investicijų ir Verslo Garantijos joined Swedbank Investicijų Valdymas and Swedbank Investeerimisfondid as anchor investors.
• Institutional capital comprised more than 80% and returning capital more than 70% of the commitments. 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.

Practica Capital remains focused on technology investments in SaaS, marketplaces, and deep/industrial tech. To date, Practica Capital has an AUM of more than €130 million and has invested in over 60 companies.

The European Investment Fund is part of the European Investment Bank Group. It focuses on supporting Europe’s small and medium-sized enterprises by helping them access finance. The EIF designs and develops venture and growth capital, guarantees, and microfinance instruments that specifically target this market segment.