Baltic VC Iron Wolf Capital launches €100m Baltic deep tech and AI fund to back early-stage startups

Iron Wolf Capital has announced the launch of the newest, €100 million early-stage Baltic deep tech & AI fund. For now, Iron Wolf Capital has raised more than €30 million of a target €100 million for its second fund.

About the new fund 

• The new fund aims to support 25 early-stage deep tech startups across Estonia, Latvia, Lithuania, and the Baltic diaspora. The firm focuses on Baltic founders, including those in the diaspora living in the US.

• It will focus on cutting-edge sectors such as AI, robotics, photonics, and space innovation. The fund plans to emphasize investments in biotech, energy, and spacetech. 

• Typically, initial investments range from €500,000 to €2 million per startup.

LPs in the new fund include Lithuanian state bank ILTE, as well as more than 40 family offices and high-net-worth individuals in Europe. According to the company, 90% of the firm’s LPs from its €21 million first fund re-upped. 

“As we have been raising this fund, we have also consciously worked on building a world-class team of the most international and diverse venture talent in the Baltics. Our team currently spans London, Warsaw, Vilnius, and Tallinn, is equally split by gender, and uniquely operator-led, at a time when just 8% of European VCs have former founders at the helm” says Iron Wolf Capital.

The company continue to lead and co-lead investments, maintaining a high-bar, low-volume approach, backing only 6–8 startups annually.

About Iron Wolf Capital

Iron Wolf Capital is a venture capital firm, based in Vilnius and London, focused on early-stage investments, primarily in the Baltic region. 

The fund supports startups across various technology sectors, aiming to help founders scale their businesses regionally and internationally.