Ukrainian, Eastern European and Israeli entrepreneurs pour €30 million into Western European venture fund

GR Capital, an international VC firm with offices in Berlin and Kyiv, has completed its first closing (€30 million) of its second early-growth fund, reports AIN.Capital. 

The money was attracted from Ukrainian and Eastern European entrepreneurs, said GR Capital Managing Partner Max Filippov, in an exchange with the Ukrainian tech news site.

“About 60% of the capital came from Ukrainian investors, 40% from investors from Eastern Europe and Israel. (…) As a rule, these are investors with checks of €0.5-5.0 million,” he explained.

The new fund aims to raise €100 million in total.

Founded in 2016, GR Capital touts itself as “a pan-European venture fund with a panoramic view.” It usually invests in series B and C rounds with a focus on fintech, mobility, proptech, healthtech, and work automation. 

GR Capital Fund I has stakes in a variety of companies, including Deliveroo, Glovo, McMackler, Planradar, Wefox and others. 

GR Capital Fund II started investing a year ago. Its portfolio companies now includes Attest, a UK-based B2B SaaS platform; Billie, a major German fintech; Alma, a French provider of installment-based payments; and Workmotion, a German HR platform. 

Topics: Finance, International, News, Venture/Private equity
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