Karma Ventures holds €70m final close for debut fund

The final close follows on from the fund's interim close on €60m in June 2017. Karma announced a first close for its Karma Ventures I fund, domiciled in Luxembourg, on €40m in February 2016.

The fund currently has nine investments in its portfolio: TrademarkNow, Adaptive Simulations, SpectX, Plumbr, Minut, AppGyver, Sonarworks, Realeyes and CGTrader.

Investors
Ambient Sound Investments and the Baltic Innovation Fund are the main LPs in Karma Ventures' fund. The Baltic Innovation Fund is a joint initiative set up by the Baltic states of Latvia, Estonia and Lithuania, in conjunction with the European Investment Fund.

Additionally, the VC firm has partnered with UK-based pan-European investor Isomer Capital, which has joined as an LP in the fund.

The remainder of the increased capital has come from family offices, pension funds and existing investors.

Investments
The vehicle will invest in series-A funding rounds for startups across Europe, targeting around 25 investments. Karma seeks to back companies developing technology for ICT products and services with potential to scale into a large market, and that have customer interest prior to roll-out.

People
Karma Ventures – Margus Uudam, Tommi Uhari, Kristjan Laanemaa (founding partners).

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