BalticVC

The Ministry of Economy of Latvia, The Financial Industry Association and the development finance institution Altum in cooperation with pension managers have agreed on the development of a new investment instrument – the Fund “For growth and protection”. 

Lithuania’s development bank ILTE and Latvia’s ALTUM have established the Baltic Capital Markets Acceleration Fund under the management of 1 Asset Management with total capital of over €50M.

Latvian O utlast Fund has closed its first fund at €21M to invest in Pre-Seed and Seed-stage startups from the Baltic-Nordic region.

Lithuanian SpringWater has announced its official launch and first investment in Romanian company FirstPromoter .

The Defense Fund, managed by the national fund SmartCap , has invested  €10M in Darkstar , Estonia's first defense technology venture fund. SmartCap's investment of €10M in the Darkstar venture fund will act as an anchor investment, and private investments will bring the total size of the fund to €25M.

Estonian venture company Yolo Investments has completed raising €100M for its flagship Fund II. The fund raised €50M of external capital and another €50M from Yolo Group. It has 23 investors. Yolo Investments announced the launch of a new fund in 2023. 

Lithuanian  Iron Wolf Capital has announced the launch of its second €100M seed stage investment fund. The fund will support high-tech startups in industries such as artificial intelligence, robotics, photonics and space innovation in 25 early-stage companies in Estonia, Latvia, Lithuania and the Baltic States.

Venture fund Superangel has announced a new early-stage fund to invest in defense technology startups called Archangel .

Lithuanian company Vinted Group has launched a specialized investment arm Vinted Ventures . 

Venture capital firm Unmanned.vc funds tech startups that design and build drones. 

Lithuanian bank ILTE  will launch a new venture fund Accelerator 3 to support local startups and is now looking for two managers for it. Among the objectives of the fund are to create, implement and disseminate advanced technologies and innovations through investments in micro, small and medium-sized enterprises. 

Tallinn-based PARSIQ   has announced the launch of the $3M Reactive Network Developer Fund, a program aimed at supporting various projects, mostly dApps. 

Latvian opportunity capital fund FlyCap   plans to raise €41.3M to invest in growth companies. €24.8M will come from the European Regional Development Fund (ERDF) and the state development finance institution ALTUM, and €16.5M will be raised from private investors who invest in the companies over five years. FlyCap will start investing when it receives 50% of the required funding from private investors.

A new Estonian fund Sunly Future Ventures (SFV), established by Erki Ani (co-founder of Estonian cleantech accelerator Beamline) and Rasmus Udde will back pre-seed cleantech startups. SFV is a green tech investment fund with an initial ticket of €500K per startup and follow-on investments - up to €3M. 

Latvian LongeVC is planning to raise a $250M fund to invest in Asian longevity and biotech startups. LongeVC also intends to raise investments for LongeVC's sister fund, Ani VC, which will focus on animal longevity and pet health.

Estonia will create a €50M defense industry fund, aimed to invest directly and through private funds in companies developing defense-related or dual-use technologies. If the fund proves successful, its size can be increased. The defense industry fund will be launched this year.

A new Estonian fund 2С Ventures will invest in early-stage cleantech startups from pre-seed to series A. The focus is on new technologies in renewable energy, waste reduction, water management, circular economy, etc. In addition, the fund will prefer to select companies that have hardware component. 

Plural , founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, raised a new €400M fund from the US and European institutions and family funds. Plural will continue to back European early-stage startups and invest in AI, frontier, consumer, climate, and energy-focused tech companies. 

Estonian venture capital firm Yolo Investments launches a €100M Yolo Fund II L.P for investing in online gaming, blockchain, fintech, and renewable energies. The company will continue back to startups from around the world of A+ stages. In total, Yolo Investments plans to invest in 20-30 ventures. Considering the fund's size and investment amount, the average ticket per startup will range from €3M to €5M.

Estonian Siena Secondary Fund plans to hold the first close of its new fund in late 2023 or early 2024. The fund targets to raise €30M- €50M. According to the general partner Lauri Isotamm, the investment firm intends to secure the maximum amount by the first close.