London-based Untitled Ventures is an early growth stage venture capital fund, which invests in breakthrough tech startups that have their roots in Eastern Europe.
Raises €50M investment
In a recent development, the VC is raising €50 million for a fund focused on early growth-stage tech startups including B2B AI, agritech, medtech, robotics, and data management from Eastern Europe. This new fund will be backed by institutions in Europe and take advantage of the exceptional deal flow with revenues ranging from €400K to €1 million.
“We target Eastern Europe talents for a reason. Given that Silicon Valley is filled with them, we are looking in the right place. The education system still has a strong focus on STEM and it is not a coincidence that Belarusian, Russian, Ukrainian university teams consistently win global programming competitions. Additionally, to companies that are still located in Russia, Belarus, and Ukraine, we target those companies that came to the West, but have not yet developed a true presence in the market. We suspect the number of companies under this description is large.” said Oskar Stachowiak, the Untitled Ventures founder.
Operating from London, Moscow, and Riga, this VC fund builds the bridge between Western and Eastern Europe. It is a member of IVC (the International Venture Club) founded in 2011 by 17 active European investors to service the necessity for better collaboration between various kinds of investors across Europe. This Club is a collaborative platform of independent venture capital, governmental, corporate, and institutional investors.
Investments so far
Already, the Untitled Ventures has invested around €4.3 million into 26 such early growth-stage tech startups. Of these, 15% have women founders including SuitApp, E-Contenta, and Sarafan tech. And, three of them have successfully exited as well. Some of its portfolio companies include Sizolution, Fixar, Pure app, Voximplant, etc. Besides these, the Untitled Ventures supports tech communities at Collision, the Emerge, WebSummit and goTech among others.
Main image picture credits: The Untitled Ventures