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Tera Ventures to raise second seed fund

Tera Ventures is to raise a second seed fund, the Tera Ventures Fund II, which has a target size of EUR55 million.

The majority of the capital has been committed by some of the most prolific Estonian, pan-European, and global investors. The fund will invest in about 30 seed stage technology startups in Estonia, Scandinavia, and Central and Eastern Europe (CEE). The Tera team members have invested in early stage tech since 2009 and our relationships spread across highly lucrative regional tech hubs with untapped potential.
“We will explore new technologies and business models to support founders building the infrastructure that will deeply impact the future of our digital lives. This will complement our efforts with our current portfolio companies – we are proud to work with some of Europe’s fastest growing and most innovative startups such as; Monese, a challenger bank; Lingvist, an AI based language learning app; and Jobbatical, a platform to help techies and creatives find jobs around the world,” says Andrus Oks, Founding Partner. “We are also proud of our exceptional founders, who led the exits of GrabCad, Modesat, and Vitalfields among others. Seed-stage capital is still scarce, but our region is a global innovation powerhouse, over-populated with successful startups, scale-ups and exits. Many later-stage Tier-1, global VCs have recognised this, including those who have invested in our portfolio companies.”

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