European LPs have backed Lithuania-based VC Practica Capital’s third fund. The European Investment Fund is the cornerstone investor in the new fund, with Swedbank Investicijų Valdymas and Swedbank Investeerimisfondid serving as anchor investors.
TLDR
European LPs have provided backing for Lithuania-based VC Practica Capital’s third fund. The European Investment Fund, Swedbank Investicijų Valdymas, and Swedbank Investeerimisfondid are among the investors.
The European Investment Fund (EIF) along with Swedbank Investicijų Valdymas and Swedbank Investeerimisfondid have backed Practica Capital’s third fund. EIF is the cornerstone investor in this fund while the other two serve as anchor investors.
Based in Lithuania, Practica Capital is an early-stage venture capital firm that primarily focuses on investments in the Baltic region. The firm targets sectors such as consumer technology, fintech, health, and software-as-a-service companies.
This is the third fund for Practica Capital, following the success of its previous funds in 2012 and 2016. The new fund will continue the firm’s strategy of investing in early-stage companies in the Baltic region.
Practica Capital has a strong track record of successful investments in the region. The firm has invested in companies such as Vinted, the Lithuania-based online marketplace for second-hand clothing, and CGTrader, a Lithuania-based marketplace for 3D models and animations.
The backing from European LPs is a vote of confidence in the Baltic region’s growing startup ecosystem. The region has seen a number of successful startups emerge in recent years and has become an attractive destination for venture capital investors.
Practica Capital’s new fund will likely provide much-needed capital for early-stage startups in the region. The firm’s investment strategy focuses on supporting entrepreneurs with proven business models and helping them scale their businesses.
With the backing from the EIF and other European LPs, Practica Capital is well-positioned to continue its successful track record of investing in promising startups in the Baltic region.
