Investor Partner @ Practica Capital. Co-author of the annual Baltic Funding Report. Baltic tech - patterns, mistakes, the parts nobody says out loud.

Tallinn, Estonia
Joined September 2015
Freehand just raised $75m for an agent that audits corporate spend. Not 'AI reviews your contracts', the pitch is $260m in invoices clawed back last year, Meta, J&J and Unilever named as customers. Most vertical agent pitches still don't have a number like that in the deck. aiweekly.co/alerts/freehand-…
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Median VC deal size 2020-2025: Europe $6.54M, US $14.64m. 46% smaller checks for the same stage of risk. Baltic founders keep asking me if they're being lowballed. I don´t think so, no. You're just being priced like Europe, not like the Bay Area. The cure here is having a better story rather than higher ask.
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Tim Vaino retweeted
Don't (Start) Work in Venture Capital Almost every day I get a note from a student saying they want to get into venture investing. got a nice one yesterday from a rising senior at Harvard (comp sci major), here was my response: my strong, strong recommendation: don't start in venture capital or even investing! this is the greatest time in the world to *build* something. investors are parasites. they (we) need a host. as an investor, your destiny is basically whether you can find somebody to hitch your wagon to. but if you're technical and determined, you can now create anything! that having been said, when you are 21 you aren't exposed to a broad array of problems in the world. most college students i meet just know homework, dating, and food -- and consequently start companies/build products around those areas. so my recommendation (even if you want to end up as an investor): join a very exciting company now. there are only two jobs at real companies: making the thing, or selling the thing. choose which path you want. and as you get more experience there, and are exposed to more problems in the world, and more people in a work environment, maybe you'll start something. and THEN, you'll have a powerful network, an understanding of how products work vs don't work, deep insights that you can coach people with, etc. and you'll probably already have done a few little investments here and there. and THEN you will be interesting for a venture firm. i didn't reach out to any vcs to get a job, they all pursued me, which is not meant to sound arrogant -- rather it's how most firms operate. most venture firms don't hire mbas anymore. we want people who enhance our ability to find, pick, and win deals, and overwhelmingly this means people who worked at a startup. there are exceptions, but they're rare. it's the inverse of the world 30 years ago. good luck!
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watching all the other bootstrappers exit while still building
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Booz Allen, Alphabet, ServiceNow, Robert Half - all rehiring after the AI freeze. HR leads are calling it an "AI execution problem." Capability without workflow change doesn't cut headcount. It just delays hiring. Seed founders selling "AI does the work now" as their efficiency story - it's not a moat, is it?! I would ask what actually changed in the process, not just what tool got added.
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Tim Vaino retweeted
wow, Google Search Console now lets you connect a social media account to see queries that triggered clicks. Interesting
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Pre-seed valuations (2025) have trended up across the Baltics since 2019. The Baltic Funding Report shows the gap between top-tier teams and everyone else widening at the same time, especially post-2022. A rising median doesn't mean a rising floor, I guess!
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sell it and then build it logic right here 👇
Sarah who built a $340K/month app in just 60 days says: most founders get it backwards: they build the product first and hope distribution follows. Her playbook? Build content and distribution first -> then the product. That’s how she launches fast.
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Tim Vaino retweeted
Before you even think about quitting your job, these 5 systems need to run automatically:
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checking X every morning is just like checking new ways of ppl hating Gemini. is anything else getting that amount of jokes these days?!
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Tim Vaino retweeted
Claude Code: "Usage limit reached. Resets in 8 hours." 💀 Me 0.1 seconds later:
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saw this on reddit today, future we are all heading to 😁
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⏳Median time from seed to series A in Europe is currently at 696 to 774 days. Basically, two years, not the twelve months most models still assume. Most founders we actually back plan around 24 months of runway from seed, minimum - anything shorter seems like underwriting a market that stopped existing a while ago. Seed founders from EU, wdyt?
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Tim Vaino retweeted
Several improvements on Affiliates dropped this week You can now shape commissions around your economics: one time or recurring, capped to a set duration or lifetime, and set per product 🍦 Your affiliates get credited no matter how: a link, a discount code, or your own funnel
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To all the Baltic founders, motivation for the night 👇
Stripe had around 50 users after its first 2 years. Imagine quitting because of that.
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