Iron Wolf Capital (IWC), a leading Lithuanian venture capital firm, proudly announces the launch of its second fund. This ambitious €100 million seed-stage investment vehicle is set to fuel the next generation of DeepTech and AI startups across Estonia, Latvia, Lithuania, and within the thriving Baltic diaspora. Dubbed the largest fund of its kind in the region, IWC Fund II is poised to be a game-changer for innovative founders.
Bridging the Capital Gap for World-Class DeepTech
IWC's latest endeavor directly addresses a critical need for substantial capital access in the DeepTech sector. “We’re here to solve the capital gap that’s been holding back world-class DeepTech Founders in the Baltics,” declared Kasparas Jurgelionis, Managing Partner at Iron Wolf Capital. "We’re raising the ambition and leading from the front. Compared to Fund I, not only has our fund size grown several fold, but our team has also doubled in size—signaling our expanded capacity and growing commitment to back Baltic founders more effectively than ever.” This commitment is clearly reflected in the remarkable reinvestment rate, with over 90% of previous backers returning for the first close of Fund II, including anchor investor ILTE. Private investor commitments have reportedly tripled, with more than 40 investors and family offices now on board, including prominent figures like Tobias Mohr, Dr. Vladas Laša, and Renaldas Zioma.Focused Investment, Global Ambition
Since its inception in 2017, Iron Wolf Capital has maintained a highly selective approach, typically backing six to eight startups annually. This focused strategy, combined with a geographically dispersed team across Lithuania, London, Warsaw, and other Baltic hubs, ensures a hands-on and impactful investment model.IWC's first fund successfully nurtured 22 startups, including notable successes like Turing College, Litilit, eAgronom, EyeVi Technologies, RedTrack, and Roq.ad. The new €100 million fund will continue this tradition, prioritizing companies building transformative technologies in fields such as AI, robotics, photonics, and space innovation.
The Baltics: A Hotbed for DeepTech Innovation
The firm emphasizes that the Baltics are rapidly emerging as a pivotal region for DeepTech investment. A robust infrastructure, a pool of ambitious founders, and supportive governmental policies are creating fertile ground for innovation. With this substantial new fund, IWC believes the time is ripe for Baltic ingenuity to make a significant global impact.Kadi-Ingrid Lilles Promoted to Partner: A Landmark for Estonian VC
Adding to the excitement of the fund launch, Iron Wolf Capital also announced the well-deserved promotion of Kadi-Ingrid Lilles to Partner. Having joined the firm in 2023, Lilles has been instrumental in shaping IWC's Estonian operations and platform strategy. This promotion marks a significant milestone, making her one of the first female VC partners in Estonia. Her impressive background includes experience with Plug & Play Ventures in Silicon Valley, Startup Estonia, and Germany’s Fraunhofer HHI, bringing a wealth of international expertise to her new role.Iron Wolf Capital's new fund is more than just a financial injection; it's a powerful signal that serious capital and strategic support are now firmly aligned with the region's most promising technology builders, poised to elevate Baltic innovation onto the world stage
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