Paua Ventures Unwraps $45 million Fund

    Berlin-based European venture capital firm Paua Ventures said on Wednesday it has raised its debut institutional early stage fund (Paua I) with a first close of $45 million.

    Paua Ventures Team

    With the new fund, Paua is looking for investments in Nordic and Baltic startups (as well as elsewhere in Europe) in areas such as Software-as-a-Service (SaaS), B2B-marketplaces, B2C mobile, mobile enterprise solutions and e-commerce 2.0.

    In the region Paua is known as one of the investors of Estonian Customer Resource Management software maker Pipedrive and they have invested in the Stockholm-based web security analysis SaaS provider Detectify.

    While raising the institutional fund Paua has started to build also portfolio, in which it has seven active companies and has deployed around $9 million in capital to date.

    “Paua is aiming to invest into another 20 startups within the next three years. The fund typically writes its first check at Seed or Series A stage, investing amounts between $200.000 to $2 million – with the ability to follow up to a maximum of $6 million,” the company said.

    Paua said it expects to have a final close for Paua I at $65 million, with investors in the new fund include institutional investors such as the European Investment Fund, several unnamed renowned entrepreneurs and major global industrial groups such as Klöckner & Co SE.