Lithuanian Practica Capital raised €32M for its third fund
Lithuanian Practica Capital raised €32M from Lithuanian Swedbank lizingas, UAB, and Estonian Swedbank Investeerimisfondid AS for its new fund Practica Venture Capital III. The Fund will focus on the Baltic companies.
It was the first closing of investments, in which (co)founders and early team members of Lithuanian Vinted, Lithuanian venture builder Tesonet, and other tech companies, including some previously backed startups also participated. In total, Practica Capital aims to attract €70M for Practica Venture Capital III.
Practica Venture Capital III fund will invest up to €3M in 25 target companies, mostly at the seed stage. More than 50% of capital is allocated to invest in follow-on investments. The fund will support marketplaces, B2B SaaS, and Deep Tech companies.
Vilnius-based Practica Capital was founded in 2012. The firm focuses on investments in the Baltic and Baltic-origin ventures in Europe. It has supported Lithuanian startups PVcase, Interactio, Montonio, Ovoko, and London-based TransferGo. Practica Capital manages three funds with a total market value of the investments (AUM) of €52M.
Lithuanian Swedbank lizingas, UAB provides leasing, factoring, and vehicle fleet management services. It is a part of Sweden Swedbank, which operates in the Nordic and Baltic countries.
Swedbank Investeerimisfondid AS is an investment management company in Estonia, operating since 1994. It manages pension funds, investment funds, and institutional private portfolios.
