Trind Ventures, a Tallinn, Estonia-based early stage tech investor, has reached the first closing of new fund, at €21m.
The three largest investors in the fund are European Investment Fund (EIF) under the Juncker Plan, LHV pension funds (LHV) and Trind Ventures’ team itself.
Led by Established by Joel Aasmäe, Ivar Siimar, Kimmo Irpola and Taavi Lepmets, the fund will focus on investing into early stage ICT companies in Estonia, Finland, Latvia, Lithuania and the rest of Central and Northern Europe. It will provide seed capital starting from €100k and do follow-on investments of up to €3m per company.
The fund, which can invest alone and co-invest alongside local business angels and/or other early stage funds, plans to invest in up to 10 new portfolio companies per year.