OTB Ventures, a venture capital fund specialised in investments in technology companies in Central and Eastern Europe (CEE), has launched its early growth technology fund, with EUR 92.4 million in commitments.
This fund was backed by international institutional investors, including the European Investment Fund (EIF).
According to EU-Startups.com, the funds will be awarded by the end of 2022, to a total of 16 early stage, post-product, startups in the CEE region, spanning cyber security, big data and artificial intelligence, fintech, IoT and robotics, as well as cloud and SaaS industry verticals. The fund will deploy up to around EUR 13.8 million per company and will typically acquire a stake of 10-15% in a given company.
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