London-based Pretiosum Ventures has reached the primary shut of what TechCrunch understands may ultimately be a $20 million second fund.
Based in London in 2019 by Yana Abramova, the solo GP fund invests in ‘infrastructure’ startups, (enterprise SaaS, Fintech, and Web3). Pretiosum (a witty inflexion of the Latin phrase ‘pretiōsus’ that means ‘valuable’) usually writes cheques within the $250-500,000 vary in a ‘follow-on’ method.
Abramova sits on Cambridge College’s Choose Enterprise College alumni board and was beforehand an envoy at Tech Nation (lately acquired by Founders Discussion board).
As one among Europe’s only a few feminine GPs, Abramova backs startups on the pre-seed, seed, and sometimes on the Collection A stage.
So far, Pretiosum has co-invested in startups alongside Cherry Ventures, Greycroft, Seedcamp, IQ Capital and Y Combinator.
I’ve famous earlier than that there’s a brand new wave of solo GP VCs is coming to Europe, even when we predict it is perhaps robust on the market, particularly within the US.
The pattern has solely simply begun in Europe and I very a lot doubt it can cease simply because we’re in a brand new, bearish, cycle.
As I wrote in June, this mannequin of VC has arrived late sufficient in Europe for it to turn into a extra viable manner ahead for a lot of European startups.
We now have already seen the launch of Underline Ventures, began final yr by Bogdan Iordache in Romania, in addition to the launch of Hypernova, a $25 million fund of funds that plans to not solely spend money on different funds but in addition immediately into startups.