OTB Ventures has closed a $100m venture capital fund which will focus on its early growth technology fund in central and eastern Europe.
The new vehicle was backed by international institutional investors including the European Investment Fund and high-profile angels including Greg Jankilevitch.
OTB Ventures will invest into early stage startups in the CEE region, spanning the cybersecurity, big data, AI, FinTech, IoT and cloud verticals. The firm is looking to back a total of 16 companies and hopes to finish the portfolio by the end of 2022.
Investments from the vehicle will be up to $15m and will typically acquire a stake of 10-15% in each company.
OTB Ventures managing partner and co-founder Marcin Hejka said: “We believe in companies with strong technological capabilities and global aspirations. Central and Eastern Europe is a cradle of talented engineers and IT specialists, pioneering innovative companies.
“We see a huge investment potential in these companies with up-and-running products and initial business traction in international markets. The purpose of our fund is to discover, develop and realise this potential on a global scale.”
The firm has made a number of investments into the FinTech space. Late last year, OTB deployed $5m into Fintech OS, an online platform which helps financial institutions to build front-end digital products.
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