Europe-based venture capital firm OTB Ventures has unveiled a new fund called OTB Growth Fund I. This fund, totalling $60M (€50.6M) will extend its support to companies with more investments as they look to scale up to pursue and accelerate international growth opportunities. OTB Ventures is a venture capital firm investing in early-stage technology businesses with R&D in Central and Eastern Europe (CEE) and global potential.
Backed by the ESCALAR programme of the European Commission and the European Investment Fund (EIF), this fund will come up with a new investment approach supporting venture capital and growth financing for European companies, the press release read.