Tera Ventures, a venture capital firm based in Tallinn, Estonia, has launched a a new fund.
Tera Ventures Fund II has a target size of €55m. The 1st closing is targeted for early this year with plans to enterely close it in 2018. The majority of the capital has already 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).
Established in 2016 by Founding Partners Andrus Oks, Stanislav Ivanov and, James McDougall, Tera Ventures focuses on founders from Estonia, Scandinavia and CEE disrupting digital space globally and builds presence and networks in the markets where portfolio companies want to expand to – the UK, the US, and Asia.
With presence in Estonia, Finland, and California, the firm 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.
California-based Venture Partner Erik Anderson and Operating Partner and Martin Hendre complemented the team.
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.