Vilnius-based Iron Wolf Capital Charges Ahead with €100m Second Fund, Joining Leading European Venture Capital Funds

Vilnius-based venture capital firm, Iron Wolf Capital, is edging closer towards its €100m mark for its second fund. With over €30m already accumulated, it’s setting a new highpoint within the Baltics region—a similar stride taken by the likes of UK-based Plural and Estonian SmartCap, both juggling around €400m and €100m funds, respectively. Partners in this venture comprise the Lithuanian state bank ILTE and an impressive count of 40 family offices and wealthy personas across Europe. Interestingly, 90% of the enterprise’s LPs from its maiden €21m fund are back on board. Born in 2017, Iron Wolf has acted as a financial backbone to startups like Turing College, a Lithuanian online artificial intelligence course, and Amberlo, a Lithuanian legaltech startup. This new fund presents a new experience for the VC firm. The Lithuanian venture capitalist aims to disrupt the industry status quo by pulling resources into such burgeoning niches as biotech, energy, spacetech and AI, among others. The plan is to inject between €500k and €2m into 25 startups. Iron Wolf is also looking beyond its homeland borders to back Baltic founders who have spread their wings in the pursuit of the American dream without losing sight of budding local talents. The company opposes the notion that the only way for a deeptech startup to grow is to relocate. Instead, Iron Wolf promotes home-grown innovation and development. Alongside these efforts, Iron Wolf sees an opportunity to explore uncharted waters within the US-based diaspora, as noted by Kadi-Ingrid Lilles, one of the rare women occupying a senior role in Estonian VC. This fact has catapulted Lilles from her position as the investor and head of platform to a partner. Iron Wolf’s increasing emphasis on areas like biotech, medtech, photonics, and developments in integrating photonics into spacetech are ushering in their next chapter of advancements, making the Baltics a hotbed of deep tech innovation.