OTB Ventures, a Warsaw, Poland-based venture capital firm investing in early-stage technology businesses with R&D in Central and Eastern Europe (CEE) and global potential, has launched the new OTB Growth Fund I.
The fund, totalling $60m, provides OTB Ventures with the capabilities to support its portfolio companies with additional follow-on investments as they scale-up to pursue and accelerate international growth opportunities. The fund is backed by the ESCALAR programme of the European Commission and the European Investment Fund (EIF).
Today’s news follows from the 2020 launch of the first fund of OTB Ventures, raising over $100m of capital to deploy in the European startup ecosystem.
Led by Adam Niewinski and Marcin Hejka, co-founders and Managing Partners, OTB Ventures focuses on technologies from the CEE region and the potential to scale globally. The firm has a proven track record supporting and enabling the expansion of portfolio companies including the recent $60m Series B funding round for Romania’s FintechOS (now headquartered in London) and the $87m Series C funding round for Finland’s ICEYE. Other investments include Cosmose, SpaceKnow, Silent Eight, Minit and Segron. Recent additions to the portfolio include early-stage funding for Scalarr and Ondato. The firm also exited BabbleLabs to Cisco in 2020.
The new capital will support continued investment for OTB Fund I portfolio companies, spanning the tech industry verticals of cybersecurity, space, fintech and robotic automation. The firm is targeting investment in a total of 15 companies to complete its portfolio by mid of 2022.
FinSMEs
13/07/2021