Berlin-based venture capital firm Paua Ventures has closed the first round of fund-raising in the amount of $45 million and expands its geography. The main focus of the fund is IT startups in Eastern Europe and, in particular, in Ukraine. Soon, the fund is going to close the second round and get additional $20 million up in assets, the total of which is $65 million.
“Paua is aiming to invest into another 20 startups within the next three years. The fund typically writes its first check at Seed or Series A stage, investing amounts between $200.000 to $2 million – with the ability to follow up to a maximum of $6 million,” the representatives of the company said.
Initially, the fund worked in Germany, Austria and Switzerland, but with the current finance volume of the managing partners they decided to pay attention to the Baltics countries and Eastern Europe.
The fund representatives stated that they won’t take a proactive position in Ukrainian regions, but are ready to invest in Ukraine in the same way as in other countries, depending on the projects flow.
The venture fund is primarily looking for SaaS- and PaaS-solutions, as well as B2B-marketplaces, B2C mobile applications, mobile business solutions and commerce 2.0.
It is already possible to send the Fund representatives business ideas on e-mail businessplan@pauaventures.com.
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