OTB Ventures, a venture capital firm investing in early-stage technology businesses with R&D in Central and Eastern Europe (CEE) and global potential, has launched the new OTB Growth Fund I.
The fund, totalling USD60 million, provides OTB Ventures with the capabilities to support its successful portfolio companies with additional follow-on investments as they scale-up to pursue and accelerate international growth opportunities. The fund is backed by the ESCALAR programme of the European Commission and the European Investment Fund (EIF), a new investment approach supporting venture capital and growth financing for promising European companies.
Marcin Hejka, co-founder and Managing Partner of OTB Ventures, says: “OTB Ventures today takes a significant step forward on our mission of enabling the start-up ecosystem of Central and Eastern Europe to achieve its global potential. With this new investment, we are excited to continue to provide support to innovative companies and ambitious entrepreneurs, taking advantage of growth opportunities in markets where European tech talent has a competitive advantage.”
Read more/Source: Private Equity Wire
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