Vienna-headquartered UNIQA Ventures, the venture capital firm of Austrian insurance group UNIQA, has announced plans to double its investment volume to 150 million euros (US$175.5 million) from 75 million euros.
This new capital will be used to provide better support to startups within Europe. The firm particularly seeks to provide growth capital to startups in the Series A phase and beyond.
In a statement published last week, the firm indicated that about half of the funds raised will be invested in startups headquartered in Western Europe and Central and Eastern Europe.
“Startups in the CEE region that have a scalable business model, as well as great exit potential and whose capital requirement is over 500,000 euro, are on the radar of the UNIQA Ventures team, which now has seven people,” UNIQA stated.
The firm also indicated that the primary focus is on sectors such as fintech, insurtech, and digital health.
Some of UNIQA Ventures’ benchmark volume is within the range of half a million euros to 5 million. And it requires the firms to be early-stage, have a healthy sales volume, and have a proven product market.
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