Berlin's Paua Ventures announces first fund close of $45 million to invest in pan-European startups

Another day, another European VC firm announces funding.

This time it's Berlin-based Paua Ventures, whose first institutional fund goes live today with a first close of $45 million, with a final close expected to come in at about $65 million.

Paua is a relatively young VC firm, which was bootstrapped by its management team with $2 million in total since 2010. Now, institutional investors such as the European Investment Fund have backed the firm with additional capital, alongside a number of unnamed high-net-worth entrepreneurs and other individuals, and major global industrial groups such as Klöckner & Co.

Paua invests in seed and Series A rounds, typically between $200.000 to $2 million per round, focusing primarily on European SaaS companies, B2B-focused marketplaces and e-commerce ventures, and mobile enterprise solution providers. It has deployed roughly $9 million to date.

From its previous portfolio, Paua has already exited four out of eleven companies (including Producteev and Amorelie), still holding shares in remaining five active ventures. The current venture portfolio includes the premium online discounter Lesara (profile), Estonian Sales CRM software vendor Pipedrive (profile) and Munich-based CRM software company Shore.

The Berlin-based VC aims to invest in another 20 startups within the next three years. With the new fund, Paua will primarily look at startups in Germany, Austria and Switzerland, but also the Baltic, Nordic and CEE countries.

**Also read:**

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Lakestar announces a new €350 million fund focused on early-stage investments in Europe

German late-stage technology investment firm Acton closes fresh $200 million fund

New London VC Felix Capital gets $120m to back ‘digital lifestyle’ startups

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