Vilnius-based Iron Wolf Capital (IWC), an early-stage VC fund centered on DeepTech and AI startups throughout the Baltics, proclaims the launch of its second fund – a €100 million Seed-stage car, allegedly making it the most important of its form within the area’s historical past.
Over 90% of earlier buyers have recommitted for the primary shut, together with anchor investor ILTE. Commitments from personal buyers have tripled in comparison with Fund I, with the brand new fund now backed by over 40 household places of work and buyers, together with Co-founder and Chairman of the Board of the Lithuanian Enterprise Angel Community Tobias Mohr, Dr Vladas Laša, and Renaldas Zioma.
“We’re right here to unravel the capital hole that’s been holding again world-class DeepTech Founders within the Baltics,” stated Kasparas Jurgelionis, Managing Associate. “We’re elevating the ambition and main from the entrance. In comparison with Fund I, not solely has our fund measurement grown a number of fold, however our workforce has additionally doubled in measurement—signaling our expanded capability and rising dedication to again Baltic founders extra successfully than ever.”
Based in 2017, IWC leads or co-leads its investments, and maintains a high-bar, low-volume strategy, backing solely 6–8 startups yearly. It’s headquartered in Lithuania, with workforce members unfold throughout London, Warsaw, and the Baltics.
The founding workforce brings a mixture of technical, operational, and monetary expertise:
- Viktoras Jucikas, an engineer and entrepreneur, was the Founder/CTO of YPlan, a London-based cell occasion ticketing platform backed by Common Catalyst, Ashton Kutcher and Pharrell Williams.
- Zygimantas Susnys brings greater than 20 years of expertise in funding administration and funding banking. Within the early 2000s, he was one of many first VC buyers in Lithuania; later, he labored on multibillion-euro M&A offers at Dresdner Kleinwort and Deutsche Financial institution.
- Kasparas Jurgelionis, the fund’s Managing Associate, started his profession in London at mediaWays, a unicorn firm backed by AOL and Bertelsmann. He subsequently labored at The Monitor Group, a strategic consulting agency based by Harvard College professor Michael Porter. Earlier than establishing Iron Wolf Capital, he spent seven years managing Achema Group’s €1 billion portfolio throughout the power, media, logistics, and industrial sectors.
Collectively, they accomplished 22 investments in Fund I with notable corporations together with Turing Faculty, Litillit, eAgronom, EyeVi Applied sciences, RedTrack, and Roq.advert.
With this fund, IWC doubles down on its dedication to help daring Baltic Founders constructing transformative applied sciences with world attain. Concentrating on 25 early-stage corporations throughout Estonia, Latvia, Lithuania, and the Baltic diaspora, the fund will again DeepTech startups in sectors like AI, robotics, photonics, and area innovation.
IWC believes that the Baltics are quickly rising as certainly one of Europe’s most compelling areas for DeepTech startup funding. In response to them, the Governments are supportive, infrastructure is powerful, and founder ambition is excessive.
The launch of their €100 million Seed fund on this context isn’t just a milestone for the corporate, however a second of inflection, doubtlessly signalling that Baltic DeepTech is able to scale on the worldwide stage and that severe capital is aligning with the area’s innovators.
Iron Wolf Capital additionally introduced the promotion of Kadi-Ingrid Lilles to Associate, making her certainly one of Estonia’s first feminine VC companions. Lilles brings expertise from Silicon Valley’s Plug & Play Ventures, Estonia’s Startup Estonia, and Germany’s Fraunhofer HHI. Since becoming a member of in 2023, she has helped lead the agency’s Estonian pipeline, platform technique and deepen its presence throughout the diaspora.
“Selling Kadi isn’t just about celebrating expertise—it’s about shifting norms. Estonia deserves extra girls in senior VC roles, and we hope to be a part of that change,” added Jurgelionis.
