Eamonn Carey Joins Tera Ventures as General Partner
March 22, 2022
The former Managing Director for Techstars London has joined the Estonian-based European Venture Capital fund to support deals across new verticals
As part of his new role, Eamonn will provide expertise and connections for startups looking to expand to the UK and US
Since 2016, Tera Ventures has launched two funds with a combined AUM of ca €75M. Notable exits from the funds include GrabCAD (acquired by Stratasys) and Vitalfields (acquired by Monsanto).
London, UK. & Tallinn, Estonia. 22 March 2022: Tera Ventures, an Estonian venture capital firm investing in early-stage digital startups with a global ambition, has appointed Eamonn Carey as General Partner. Based in London, Eamonn has previously started, succeeded, scaled and failed as a founder. His new role for Tera Ventures will see him lead on investments, as well as support founders to expand and raise investment in the UK and US.
Tera Ventures is an industry-agnostic VC fund, with key areas of interest based on learnings from within its portfolio, for instance, the fund has invested in many Fintech and automation startups. In a similar way, the fund has developed key themes, such as artificial intelligence and machine learning, which it has backed for more than ten years.
Tera Fund I invested in well-known businesses such as Monese, an online banking platform, Cleveron, a last-mile delivery solution using robots, and Lingvist, an AI-powered language tool. To date, Tera Fund II has made 13 initial investments, including BotGuard, a cybersecurity tool, and Montonio, buy no pay later player. Tera Fund II will make approximately the same number of deals going forward.
With expertise across consumer, food, gaming and the future of retail – amongst others – Eamonn will widen the sectors that Tera Ventures will back. Prior to joining Tera Ventures, Eamonn was MD of Techstars, running programmes in both London and New York. Eamonn is also a regular speaker at major tech conferences, including Web Summit, Collision, SXSW, Mobile World Congress, Slush, and Pioneers, amongst many others.
Eamonn is also a prolific angel investor and helped launch The Fund’s European presence. Combined across his angel portfolio and through Techstars, he has led investments into over 90 companies around the World. Notable investments include food tech startup Kencko; unmanned aircraft flight solution Sees.ai; sustainable fishing marketplace Pesky Fish; femtech startup Ohne; LGBTQ+ sexual healthcare startup, LVNDR Health; and interactive 3D experience development platform Anything World.
Commenting on joining the Tera Ventures team, Eamonn Carey, new General Partner, said, “What I love about the Tera Ventures team is that they are incredibly hands-on, have high conviction and are founder-friendly. That’s the part of this role that I enjoy the most – getting to roll up my sleeves and work closely with ambitious founders and their teams. I’ve known the Tera team for several years now, having sat on boards and co-invested in the past. Joining them as a General Partner is an exciting next stage for me and for Tera Ventures, as we look to work with more great founders, support our startups in expanding to new markets – and attract new investors from around the world.”
Speaking on Eamonn joining as General Partner, Andrus Oks Founding Partner at Tera Ventures, said, “We at Tera are really excited to have our long-time friend join as a partner. Together with Eamonn we are a stronger team and can greatly extend our value add to our portfolio companies and investors. He will also be an important asset to our ecosystem in general. We are looking forward to supporting our cool startup founders and their ambitions for many years to come.”
Pär Nuder, Senior Adviser to and investor in Tera Ventures, and former Minister of Finance for Sweden added, “Tera has a unique position to support promising companies in northern Europe. With its Estonian origin, extensive knowledge of the venture scene in the Baltic Sea region, Tera is now expanding its network and offering through the recruitment of Eamonn. Today’s entrepreneurs are both figuratively and literally boundless – an approach adopted by the Tera team.
– ENDS –
The EstFund is an initiative created by cooperation between the Republic of Estonia and the European Investment Fund and financed under European Structural and Investment Funds.