Kaya VC’s new €72 million ($80m) fund will give attention to startups in Prague, Warsaw and the broader CEE area. Beforehand known as Enern, the Central and Japanese European VC — which, traditionally, began out investing in wind-farms and ended up invested in software program — has modified its title to raised replicate its trendy focus. The agency may also again startups “at any stage” of funding. LPs within the fund embrace the EIF and numerous profitable entrepreneurs from the area.
That is the crew’s fourth fund, and along with the earlier funds, the AUM is round €250m. The fund has invested in 27 corporations with the newest investments into B2B marketplaces, healthtech and blockchain.
The last decade-old Prague-based VC (“KAYA” would be the official naming format) has beforehand invested in Booksy (raised $70 million in January 2021), Twisto (€16 million this yr), DocPlanner (€80m in 2019), and Rohlik ($230m this yr). Kaya beforehand participated in liquidity occasions for Skype, Clever (previously TransferWise) and Bolt, UiPath which lately raised $750 million at a $35 billion valuation forward of an IPO.
Kaya says will probably be sector agnostic, with companions following some private passions: Tomas Obrtac on agri-tech; Pavel Mucha on next-generation shopper experiences; Tomas Pacinda on fintech, and Martin Rajcan focuses on vitality transition. All different areas of tech shall be checked out. Much like funds equivalent to Level 9 in Berlin, Kaya says it’s an ‘equal partnership’ that means every accomplice could make selections on what to again.
The agency plans to have the ability to write the primary cheque and can be backing super-early ‘studio initiatives’ which have gone on to boost subsequent funding rounds.
Pavel Mucha, accomplice at Kaya VC, commented in a press release: “Once I initially began investing in native startups in Prague and Warsaw, it was as a result of there was a have to work with folks to construct one thing worthwhile that didn’t exist already. Over the previous 10 years, we’ve seen this sector develop and mature, and with that our technique of backing intrepid founders who’re making a distinction from Booksy’s Stefan Batory to Rohlik’s Tomáš Čupr.”
Kaya can be a part of the Included VC, community, a mentor community for underrepresented teams equivalent to girls and other people of shade. Mucha informed me: “We’ve employed by means of their program, been carefully concerned and large supporters. We predict it’s an ideal addition to the ecosystem inside Europe, and hope to do extra. It’s undoubtedly a really significant initiative we stand totally behind.”
Martin Rajcan, accomplice at Kaya VC, added: “Founders popping out of Central and Japanese Europe are globally-orientated, have robust technical expertise, and an unmatched starvation for fulfillment. It’s these robust fundamentals paired with a next-level depth that makes them so thrilling to work with and we need to assist such expertise in any manner we are able to. With companions, enterprise companions, advisors, and scouts throughout Europe, we’re in a singular place to assist founders within the diaspora outdoors of core cities equivalent to Prague and Warsaw.”
In Turkish the phrase Kaya means ‘rock’, in Japanese, it’s ‘sanctuary’. Regardless of the case, Kaya is in a superb place to make the most of the burgeoning startups within the CEE area. In keeping with Dealroom there was 5x extra international funding within the CEE area than in 2015.