Tera Ventures to raise €55m for second seed fund

The newly formed early-stage private equity investor intends to hold a final close for the fund in 2018.

Established in 2016 in Tallinn, Estonia, Tera is managed by former investment team members of SmartCap, the venture capital firm managing funds on behalf of the Estonian development fund, Eesti Arengufond.

In addition to founding members Andrus Oks, Stanislav Ivanov, James McDougall, the investment team also includes California-based venture partner Erik Anderson and operating partner Martin Hendre.

Investors
Capital has been committed by a range of institutional and private investors hailing from Estonia, the rest of Europe and globally.

Investments
The fund will invest in around 30 seed-stage technology startups in Estonia, Scandinavia and the CEE region. The investment team members have invested in early-stage technology businesses since 2009 and plan to use their relationships across regional tech hubs to make investments.

People
Tera Ventures – Andrus Oks, Stanislav Ivanov, James McDougall (founding partners).

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