Tallin, Estonia-based Karma Ventures has announced the closing of its maiden fund at €70 million, to invest in early-stage deep tech startups across Europe. UK-based Isomer Capital has joined as a limited partner in the fund, and the rest of the increased capital has come from family offices, pension funds, and existing investors.

The fund currently has nine investments in its portfolio: TrademarkNow, Adaptive Simulations, SpectX, Plumbr, Minut, AppGyver, Sonarworks, Realeyes and cgtrader.

Two of Skype’s founding engineers, Ahti Heinla and Jaan Tallinn, are advising Karma Partners, providing guidance on investments in deep tech.

“The larger fund will allow us to broaden our reach and to offer high quality support to deep tech start-ups across Europe," said Margus Uudam, founding partner of Karma Ventures. "Our philosophy is the same – we’re looking for great teams with stand-out technologies and compelling business propositions behind them and we are looking forward to continuing to support European startups growth. With our counsel we want to help European start-ups to grow, that is why our commitment will remain with early-stage investments.”

“The team at Karma Ventures have unrivalled insight into emerging technologies and the Northern European startup scene," said Chris Wade, co-founder and partner at Isomer Capital. "Its capabilities and geographical scope are a great fit with ours, and we’re encouraged by the potential to build very significant companies together.

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