Lithuanian accelerator Firstpick raised investment from Austrian VC Speedinvest

Vienna-based VC Speedinvest became a Limited Partner of Lithuanian accelerator Firstpick. The amount of investment in Firstpick is undisclosed. 

Apart from Firstpick, Speedinvest supported 16 micro funds from Europe and the US within its Micro GP program. According to Deepali Nangia, who is running the program, Firstpick has a good track record and similar focus, for instance, investment in pre-seed startups, fintech companies, etc. 

In addition, Speedinvest is targeting to increase its presence in the Baltic region. The politics of Speedinvest is to support female and diverse fund managers, which is one of Firstpick's features.

Established by an ex-Lithuanian team of Estonian accelerator StartupWiseGuys, a VC and an accelerator Firstpick aims to support 45 startups over the coming three years. Its fund size is €20M. The initial ticket per startup is €50-€200K. The Managing Partners are Jonė Vaitulevičiūtė, Marijus Andrijauskas, Dmitrij Sosunov, and Andra Bagdonaite

Founded in 2011, Speedinvest is an early-stage investment company, which manages more than €1Bln in funds with more than 40 investors based in Berlin, London, Munich, Paris, and Vienna.