Estonian Trind VC and Latvian ZGI Capital invested in UK database provider Royalty Range

Estonian venture fund Trind Ventures and Latvian ZGI Capital invested €2M in UK B2B database provider Royalty Range, which has a Lithuanian co-founder. Each of the funds invested €1M in the company. The total amount of the round, estimated at more than €4M, was led by Prague-based VC fund Presto Ventures. Several angel investors from the Baltic region and Finland also participated in this round.

RoyaltyRange, with its headquarters in London, was founded in 2012. One of its cofounders is Asta Rudzikienė. RoyaltyRange provides professional databases used in international tax and IP (intellectual property) valuations. Based on this data, the company customers can determine, compare and evaluate royalties applicable to intellectual property licensing. RoyaltyRange offers four databases and four data tools, for example, transactional databases containing data on royalty rates, service fees, and loan interest rates from third-party agreements, or private companies' financials and ownership. The company has clients from more than 70 countries, including KPMG, Ernst & Young, Deloitte, PwC, and others.

RoyaltyRange will use investments for further growing and deepening the breadth and quality of data used in the company’s product portfolio.

Trind Ventures is an early-stage venture fund, launched by Joel Aasmäe, Ivar Siimar, Kimmo Irpola, and Taavi Lepmets. In September 2022, the company closed Fund II with a capital of €55M. It aimed to invest in 30–40 startups in four years. Fund II has already invested in Barcelona-based event management software Xceed, the Estonian platform for buying and selling second-hand fashion goods Yaga, Spanish home services marketplace Webel, and the German marketplace of luxury designer bags SACLÀB. 

Latvian venture fund ZGI Capital was established in 2005. The managing partner is Normunds Igolnieks. At the end of 2017, it closed its €32,5M fourth fund ZGI-4 with the target to invest in companies with a high growth potential for the next ten years.