Practica Venture Capital III

Practica Venture Capital III is a venture capital fund managed by Practica Capital. The fund is based in Vilinius, Lithuania. The fund is a 3x uptick in size from its predecessor and will significantly increase the capital available for the Baltic founders, particularly in Lithuania, Estonia and Latvia. Practica will continue its role as lead investor and support the break-out attempts of the early-stage tech startups in Lithuania, Latvia, and Estonia. The strategy is tailored for the seed stage and is equipped to deploy up to €3 million in initial tickets and support winning companies up to €8 million over the lifetime of the fund. As of February 2024, the fund has already deployed more than €10 million and backed 6 companies, such as Heavy Finance, Sentante, Amlyze, and Breezit. 3 companies are in the term sheet stage. The final closing was completed with the European Investment Fund (EIF) joining as a cornerstone investor. European Bank for Reconstruction and Development (EBRD), SEB Investicijų Valdymas, and Investicijų ir Verslo Garantijos (INVEGA) joined Swedbank Investicijų Valdymas and Swedbank Investeerimisfondid as anchor investors. Institutional capital comprised more than 80% and returning capital more than 70% of the commitments. The fund was also supported by many individual LPs, such as the co-founders of Lithuanian unicorns Vinted, Nord Security, and other successful tech companies, including several Practica Capital previously backed startups.