Cobalt has advised Practica Capital on the final close of the Practica Venture Capital II fund, which included a EUR 2 million investment from Swedbank Asset Management. The total fundraising amount reached EUR 28.5 million.
According to Cobalt, ”the anchor investor of the Practica Venture Capital II fund is Invega. The rest of the funds were committed by Practica Capital together with a number of other local and international investors. The fund will focus on early-stage venture capital investments in the Baltics and Baltic-origin (e.g., Baltic diaspora, other Baltic connection) ventures in Europe. Since the establishment of Practica Venture Capital II in 2019, the fund has already made 14 investments in companies, among which we can find such already well-known companies as Ziticity, Oxipit, Eddy Travels, or PVcase.”
Cobalt’s team included Partners Eva Suduiko & Akvile Bosaite, Senior Associate Aurelija Balciune and Associate Andra Gavedaite.
Cobalt could not provide additional information on the matter.