Tech.eu has confirmed that London-based VC firm Untitled Ventures has raised €100 million for its second fund, a number significantly higher than the initially reported €75 million. The fund will focus on deep tech startups that are founded in eastern Europe and have the desire to relocate or have already established an HQ in western Europe or the US. Untitled’s investments usually range between €500,000 and €2 million.
Founded in 2011 and operating out of London, Riga, and Moscow, Untitled aims to support early growth stage startups hailing from the Baltics and CEE and CIS regions. Their primary focus lies in deep tech investments, specifically in the fields of AI, computer vision, robotics, agritech, medtech, and data management.
Amongst Untitled’s LPs is Global Network Management founder Vladimir Vedeenev. GlobalNet partners include Google, Telegram, Facebook, Twitch, Vodafone, … and the list goes on. In addition to his financial investment, Vladimir will offer scale-ups valuable expertise as Head of Technology at Untitled Ventures.
Untitled’s portfolio of active investments include Sizolution, Fixar Global, E-contenta, Pure app, SuitApp, and Hello, baby. Untitled has seen exits with Voximplant, channelkit, upnews, RecruitLoop, JungleJobs, and Giftoman.
“With over 10 unicorns, €1 billion venture funding in 2020 alone, and success stories like Veeam, Semrush, and Wrike, startups emerging from the fast-growing regions are the best choice to focus on early-stage investment for us,” commented Untitled Ventures’ Oskar Stachowiak. “Thanks to the strong STEM focus in the education system and about one million high-skilled developers, we have an ample opportunity to find and support the rising stars in the region.”