Tera Ventures closes second fund on €43m

According to Unquote Data, the fund was launched in January 2018 and had a target of raising €55m. It held a first close on €21m in July 2018 and was previously expected to hold a final close in late 2019.

Barbara Piette of Knightsbridge Advisers, and EQT and Northzone adviser Pär Nuder have stepped in as advisers to Tera, with Nuder also investing in the fund.

Investors
LPs in the fund include the European Investment Fund (EIF) – under the EstFund, a joint venture between the Republic of Estonia and EIF – LHV Pension Funds, Itochu Corporation, Mistletoe Venture Partners International, Perot Jain, MasterBorn, and Jonas E Neihardt, as well as other investors from the Nordic region and Estonia.

The GP said in a statement that both Japanese investor Itochu and US-based Perot Jain might invest directly or at later stages in its portfolio companies.

Investments
The GP has previously said that the fund will be used to invest in around 25-30 seed-stage technology startups in Estonia, Scandinavia and central and eastern Europe.

It invests in companies at a seed stage and helps them expand internationally, specifically to the US and Japan.

Established in 2016, Tera is an early-stage venture capital firm focused on Nordic and Baltic startups. In May 2017, Tera acquired the PE portfolio of Smartcap. Companies it has recently backed include UK-based Monese, business management software Scoro, property technology platform Rendin, and IP-licensing management platform Brainbase.

People
Tera Ventures – Andrus Oks, Stanislav Ivanov (founding partners); Yusuke Sugihara (head of LP investment strategies).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Venture
• CEE
• CEE
• Baltics
• Nordic venture