Change Ventures launches €20M Fund III to double down on pre-seed investing

Estonian venture capital fund Change Ventures launches €20M Fund III to double down on pre-seed investing in startups founded by Baltic entrepreneurs. The initial ticket size will be between €100K to €500K. Half of the fund will be used for follow-on investments. 

The main sectors will be software, hardware, e-commerce, AI, B2B software, SaaS, consumer businesses, and many more. Change Ventures will be more often co-investor with business angels but sometimes will take the lead role.

Andris K. Berzins and Rait Ojasaar will be investment partners in Fund III. Yrjö Ojasaar will continue to work on Funds I and II. Finance manager Aveli Nurk will work as a Chief financial officer and Compliance officer.

The first Fund III investment was in Latvian SaaS startup Trace.Space. Currently, the fund has three more investments in the process. 

Change Ventures is an Estonian pre-seed/seed stage venture capital fund, that backs startups founded by Baltic entrepreneurs. It has invested in over 30 startups. The fund was established by entrepreneurs Andris K. Berzins, Rait Ojasaar, and Yrjö Ojasaar in Tallinn in 2017.

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