BaltCap invested in NordicNinja Fund II

A private equity fund BaltCap, operating in Estonia, Lithuania, and Latvia, invested in NordicNinja Fund II, which focuses on Nordic and Baltic startups. The cornerstone investor was Japan Bank of International Cooperation (JBIC). Swedbank pension funds, existing investors Japanese automaker Honda, and Japanese electronics manufacturer Omron also supported NordicNinja with financing. 

NordicNinja will focus on climate tech, deep tech, and digital society early-stage startups. In addition, Fund II will expand its operations to the UK, Ireland, Belgium, the Netherlands, and Luxembourg. 

NordicNinja has invested in four Estonian startups and growth companies such as mobility unicorn Bolt, verification startup Veriff, provider of autonomous delivery services Starship, avatar platform for creating virtual identities Ready Player Me, Lithuania last-mile delivery service Ziticity from its €101M Fund I. In total, NordicNinja made 20 investments in climate tech, mobility, AI-powered startups, and others. The initial ticket in Fund I was €2M-€8M at the Series A and B stages. The latest investment was Estonian startup Pactum, which offers an AI-based solution for automated running negotiations with suppliers.

Founded in 1995, BaltCap focuses on buyout deals, growth, venture, and infrastructure investments. It has offices in all the Baltic countries, Finland, Sweden and Poland. 

Founded in Helsinki in 2019 by Japan Bank for International Cooperation (JBIC), Honda, Omron, Panasonic, and BaltCap, NordicNinja focuses on startups from Nordic and Baltic countries. The managing partners are Rainer Sternfeld and Marek Kiisa, Shinichi Nikkuni, and Tomosaku Sohara.