Tera Ventures announced the closing of a €43 million seed-stage fund.

Tera Ventures, a Talinn, Estonia-based VC investment company, announced a new closing of its seed stage fund at €43 million ($51M).

Limited partners in the fund now include European Investment Fund, under the EstFund, LHV Pension Funds (Estonia), ITOCHU Corporation, Mistletoe Venture Partners International (Japan), Perot Jain, MasterBorn, Inc., Jonas E. Neihardt (USA), as well as other investors from the Nordics and Estonia.

Stepping in as advisors are Pär Nuder, long term advisor to NorthZone and EQT, who also joins as an investor and Barbara Piette of Knightsbridge Advisers.

Tera Ventures, founded in 2016 by Andrus Oks, James McDougall and Stanislav Ivanov, does early stage (seed) investments in the Baltic and Nordic countries. Recent deals include Scoro, Rendin and BotGuard.