OTB Ventures closes debut fund on $100m

The fund held a first close in the second half of 2017 and is currently around 33% deployed.

OTB Ventures I has a 10-year life span and plans to close its investment period by the end of 2022.

"Our mission is to empower startups based across the CEE region and help them scale up their businesses globally, while keeping a strong focus on their technological advancement," Adam Niewiński, managing partner and co-founder at OTB Ventures, told Unquote. "The closing of our first fund reaffirms our commitment to support the CEE early-growth ecosystem, as well as the local new generation of innovative entrepreneurs."

OTB has previously co-invested with several international venture capital funds, including DNX, Draper Associates, Wavemaker Partners and True Ventures, as well as corporate venture capital investors, such as Intel Capital, Dell Technologies Capital, Samsung Next, Salesforce Ventures and Standard Chartered Ventures.

Investors
The fund has received commitments from several international institutional investors, including the European Investment Fund (EIF), asset managers, high-net-worth individuals and private investors such as entrepreneur Grigorij Jankilevitsch, founder of energy company Mercuria, as well as family offices from both Europe and the US. Around 90% of the capital raised came from European LPs, while 10% was committed by US-based LPs.

Investments
OTB Ventures I invests in technology companies based in central and eastern Europe. It deploys equity tickets of up to $15m, typically starting with an initial investment of $1-5m followed by additional rounds for a total investment of up to $15m. It invests primarily in series-A rounds and plans to build a portfolio of 16 companies.

The fund acquires stakes of around 10-15% in early-stage, post-product startups with a focus on cybersecurity, big data, AI, fintech, Internet of Things and robotics, as well as cloud and SaaS industry verticals.

It targets companies with unique IP and disruptive ideas, a strong regional footprint across the CEE region, and that are able to generate demonstrated revenue streams, as well as boasting potential for high growth and willingness to scale up internationally.

The fund has already invested in eight companies: Cosmose, SpaceKnow, Silent Eight, Minit, BabbleLabs, Segron, FintechOS and Iceye.

People
OTB Ventures – Adam Niewiński, Marcin Hejka (co-founders, managing partners).

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