Tera Ventures said it has closed its new fund for seed-stage investments in the Nordic and Baltic area at 43 million euros.
Tera is an early-stage venture capital firm with more than 10 years of experience. It has invested in several prominent European startups, including the UK-based fntech Monese, business management software Scoro, proptech platform Rendin, and IP-licensing management platform Brainbase. Previous successes include GrabCAD (acquired by Stratasys) and Vitalfields (acquired by Monsanto).
“The obvious benefit to founders is that we have more capital to deploy.”Stanislav Ivanov, Founding Partner at Tera Venture
“But additionally, now more than ever, we are able to connect entrepreneurs with top international investors and help them engage in commercial collaboration with the strategic ones. We’re also gearing towards extending these opportunities to deal-flow companies,” Ivanov said in a statement.
Limited partners in the fund now include European Investment Fund, under the EstFund, LHV Pension Funds (Estonia), ITOCHU Corporation, Mistletoe Venture Partners International (Japan), Perot Jain, MasterBorn, Inc., Jonas E. Neihardt (USA), as well as other investors from the Nordics and Estonia.
“Both Itochu in Japan and Perot Jain in the US are corporations that may invest directly and in later stages as well and give our portfolio companies numerous options for commercial collaboration and provide unique inroads to new markets,” Andrus Oks, Founding Partner at Tera Ventures, said in a statement.
“It is amazing to see how quickly Estonia has grown into a significant start-up hub that rivals much bigger countries.”Anurag Jain, General Partner at Perot Jain:
“Our unique operating company platform provides a number of collaboration opportunities, particularly in the mobility/logistics, proptech and healthcare industries, allowing Perot Jain to extend support to the Tera portfolio companies beyond our capital,” Jain said.