Tera holds €21m first close for Tera Ventures II

The investment team expects to hold a second close within the coming the months having been on the road since announcing the vehicle in January.

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 and James McDougall, the investment team also includes California-based venture partner Erik Anderson and operating partner Martin Hendre.

Investors
A range of institutional and private investors from Estonia, the rest of Europe, and globally committed capital. LPs include the European Investment Fund, LHV and Mistletoe Venture Partners International.

Investments
The team members have invested in early-stage technology businesses since 2009 and plan to use their relationships across regional tech hubs to make investments. The investor's second seed fund will invest in around 25-30 seed-stage technology startups in Finland, Denmark, Latvia, Lithuania, Poland, Sweden and the Czech Republic.

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

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