London-based Untitled Ventures today announced it has raised €100 million for its second fund. It will invest in deep-tech startups founded by globally-minded Eastern European entrepreneurs who are looking to relocate their business and accelerate their growth in Western Europe or the USA.
Konstantin Siniushin, Managing Partner at Untitled Ventures, stated: “Deep tech startups contribute to solving the world’s biggest challenges. Creating a new technology with a potential to disrupt markets and industries should be supported. We are committed to help scale deep tech companies to bring them to the right markets and in front of the right people.”
The priority will be given to B2B AI-powered startups with proven traction emerging from the Baltics, CIS and CEE, as well as already established in the west, disrupting agritech, medtech, robotics and data management industries.
Oskar Stachowiak, Managing Partner at Untitled Ventures, commented: “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. 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.”
Among Untitled’s Limited Partners are names like Vladimir Vedeenev, a founder of Global Network Management, which provides telecom services in the EU, USA, and Singapore. Their key partners are Google, Telegram Messenger, Facebook, Twitch, DigitalOcean, IP-Only, CenturyLinks, Vodafone, TelecomItaly, to name a few. In addition to Vladimir’s investment he will provide his deep tech expertise as the Head of Technology at the Untitled Ventures.
The Untitled Ventures already has a good network in the region and also partners with EMERGE – the global tech product conference, where entrepreneurs, tech talent, investors, and scientists get together. This year, the fund helped to create EMERGE 100 Report – a list of the emerging startups in the Eastern Europe and CIS regions.
The Untitled also partners with InnMind, a deal-origination platform for tech startups and venture capital professionals in Europe, to bring high quality deal-flow of deep tech startups from the region to the fund’s pipeline.