This is not so new, but it has been overlooked by the media, while I think it’s a very important event in the european venture capital landscape.
BaltCap has been around since 1995 and has managed four private equity and venture capital funds with total capital of €130m.
In January the closed a new €30M fund that will consist of €20m provided by EIF managed JEREMIE Holding Fund and €10m raised from local private investors, including Parex Asset Management, Hipo Fondi, LKB Krajfondi, Pirmais Slegtais Pensiju Fonds and high net worth individuals.
The fund will provide start-up and expansion financing to companies with established operations and growth potential taking equity stakes of between €300,000 and €3m, with the aim to build a portfolio of 15 to 20 investments.
Plus notably, BaltCap is the first venture capital fund to successfully complete private fund raising under the European Investment Funds managed JEREMIE initiatives in Europe, and the first structured private equity fund to be raised in the Baltics since the economic crisis hit the region.
