Tilia Impact Ventures is a seed-stage impact venture capital firm based in the Czech Republic, and recently announced the successful first closing of its second fund, totaling €26m.
They will continue fundraising to the target of €32m EUR over the next 12 months.
This significant achievement marks a major stride towards supporting visionary entrepreneurs in the Central and Eastern European (CEE) region who are dedicated to tackling some of the world’s most pressing environmental and social issues.
The launch of Tilia Impact Ventures’ second fund represents a pivotal moment in the firm’s growth trajectory.
This increased capital infusion allows the firm to expand its reach and continue empowering entrepreneurs committed to making a meaningful difference in society.
With the new fund now officially underway, the Tilia team anticipates a boost of activity, including several upcoming deals that are currently in advanced stages but have yet to be disclosed.
“We are investing in technologies and business models that can transform entire industries and systems, rather than merely providing temporary benefits.” – Andrew Gray, General Partner at Tilia Impact Ventures
“This second fund represents a real milestone in our evolution. We launched the first impact fund in the region, but over time, we found that the capital we had available was not enough to support the sheer volume of incredible change-makers in the region.
With Pavel and Andy joining and the larger fund size, we now have the potential to make a real difference, at scale.” – Silke Horáková, General Partner at Tilia Impact Ventures
Strong Investor Backing
Tilia Impact Ventures’ second fund has received substantial support from prominent institutions and individuals.
The European Investment Fund (EIF), backed by the InvestEU program, has played a pivotal role as a major investor.
Additionally, Česká spořitelna Bank has also joined as a significant contributor.
Notably, several influential figures in the Czech business community, including Libor Winkler and Martin Ducháček from RSJ, Zbyněk Frolik from LINET, and Ondřej Bartoš from Credo, have thrown their support behind the fund.
A Festive Fund Launch
To celebrate the official launch of the fund, Tilia hosted a memorable event in Prague aptly named “Brace for Impact.”
The event brought together esteemed impact investors and founders from across the region, featuring inspiring speeches by Cyril Gouiffès from the European Investment Fund and serial impact entrepreneur Ryan Grant Little.
Addressing the Gap in Impact Investing
Tilia Impact Ventures recognizes that impact investing remains an emerging asset class, primarily attracting family offices and high-net-worth individuals who share the mission of generating positive change alongside financial returns.
The Central and Eastern European region has historically faced a scarcity of institutional capital in the venture capital space, particularly in the field of impact investing.
In this context, the commitment from Česká spořitelna and the EIF is especially noteworthy.
Tilia Impact Ventures Focus Areas
Tilia Impact Ventures adopts a balanced approach, allocating 50% of the fund’s resources to initiatives focusing on “people” and dedicating the remaining 50% to “planet.”
The firm is committed to driving positive change in the following areas:
- Climate & Sustainability: This includes initiatives related to decarbonizing the grid, electrifying transportation, sustainable food production, nature conservation, industrial sustainability, carbon reduction through innovative solutions, and circularity.
- Education & Training: Tilia supports EdTech initiatives and aims to address employability and skills gaps.
- Social Inclusion & Civic Empowerment: The firm is dedicated to promoting social inclusion and employment opportunities for disadvantaged groups while advancing civic empowerment and transparency.
- Health & Wellbeing: Tilia Impact Ventures ensures access to healthcare, invests in MedTech and assistance solutions, and promotes mental health and preventive care.
A History of Impact
Founded in 2018, Tilia Impact Ventures has a track record of championing social and environmental change.
Its inaugural fund made impactful investments that tackled issues ranging from countering food waste to improving materials recycling, combating corruption in public spending, and enabling alternative pre-school education models.
“Our region is long known for its technical talent. But more recently, we are seeing a wave of entrepreneurs who are putting their minds toward solving some of the most pressing environmental and social challenges of our time.
We are glad to be able to offer patient capital, guidance, and a network to propel these founders on their journey to make global change.” – Petr Vitek, General Partner at Tilia Impact Ventures
Meet the Tilia Impact Ventures Team
The Tilia II Partnership team comprises seasoned experts from diverse backgrounds, including venture capital, investment funds, foundations, social entrepreneurship, and tech entrepreneurship.
With a strong track record of successful investments on both sides of the deal, the team is well-equipped to support founders in maximizing impact outcomes and financial performance.
- Silke Horáková, Partner: A private investor and co-owner of Albatros Media, Silke brings deep expertise in deal structuring, business models, and legal matters, coupled with a profound passion for impact.
- Petr Vítek, Partner: Co-founder of Impact Hubs in the Czech Republic, Petr’s extensive experience spans consultancy, audit, mentoring startups, and serving on boards of non-governmental organizations.
- Pavel Petřek, Partner: A former startup entrepreneur with M&A experience, Pavel offers invaluable insights into technology and a deep understanding of tech opportunities.
- Andrew Gray, Partner: An impact startup operator, investor, and former Strategy Consultant with a global network, Andrew’s focus on meaningful change guides his career journey.
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