JANUARY 2022

 
 
 
 
 
 

Dear EstVCA Members and Friends!
 
While 2021 was an all record-breaking year, we're already seeing this continue for 2022. The year kicked off with some fabulous fundraising news from our tech-companies Bolt (raised €600M+, is now worth €4B+) and Veriff (raised $100M, became a unicorn on $1.5B valuation) with a number of our funds also participating as existing investors.
 
January was a busy month for us and our funds also in many other ways. Together with all key startup ecosystem players, we had a meeting with Prime Minister Kaja Kallas to tackle the most important aspects and challenges for the ecosystem and digital society to flourish.

 

We're also very honored to start our first-ever PE/VC syllabus at two Estonian universities this spring - TalTech and Estonian Business School. The 8-week course, created in cooperation the universities and EstVCA, provides a detailed overview of the role of PE/VC funds in the development and growth of companies at different development stages.

 

Not to mention exciting deals, events, and reports. Hope the newsletter serves as an informative read.

 

With best wishes,
EstVCA team

 

 
 
 
 
 
EDUCATION PROJECT

EstVCA teams up with

universities to create a special

Private Equity & Venture Capital syllabus

 
 
 
 

In the 2022 spring semester, a specially tailored Private Equity and Venture Capital syllabus will be taught for the first time at two universities in Estonia - TalTech and Estonian Business School. The 8-week course, created in cooperation between the universities and EstVCA, provides a detailed overview of the role of PE/VC funds in the development and growth of companies at different development stages.

 

The syllabus consists of a total of seven thematic blocks: 

  1. Introduction to the nature and role of private equity and venture capital in the economy; 
  2. Different strategies for private equity and venture capital and the links between financing and the life cycle of companies; 
  3. The main differences between private equity and venture capital in terms of investment management, risk-return profile, and valuation of the company; 
  4. The legal framework and operating principles of the private equity and venture capital fund; 
  5. Investment valuation and techniques; 
  6. Private equity transaction case-study (“buy and build” strategy); 
  7. Case study of a venture capital transaction (seed phase company). 

The course ends with a summary exam.


The lecturers of the new curriculum are experienced fund managers and experts in the field, including: Kristjan Kalda (BaltCap), Heidi Kakko (UniTartu Ventures), Martin Kõdar (BaltCap), Kristjan Laanemaa (Karma Ventures), Hendrik Reimand (Livonia Partners), Yrjö Ojasaar (Change Ventures), Indrek KaldojaMarili Merendi (Karma Ventures), Kaari Kink (Superangel), Mihkel Kolk (Deca Legal), Antti Perli (Ellex Raidla), Kalle Ahi (TalTech), and Ravi Kashyap (EBS).

 

  • Read more & register (places are limited) HERE

 

 
 
 
SECTOR DEVELOPMENT
 
 

Prime Minister Kaja Kallas

meets with technology sector

representatives

 
 
 
 

On 12 January 2022 EstVCA, represented by Chairman Margus Uudam, participated in the Estonian tech-sector roundtable discussion with the Estonian Prime Minister Kaja Kallas together with Startup Estonia, The Estonian Founders Society, The Estonian Association of Information Technology and Telecommunications, EstBAN, Sorainen and Pipedrive. The key topics covered included talent attraction, education, option taxation, R&D investments facilitation, Web3.

 
 
 
 
 
EVENTS
 
 

Recap:

EstVCA Funds on Stage

 
 

27 January 2022

 
 
 
 

EstVCA members gathered on 27 January for our Coffee Connnections event, which this time took a closer look at our funds' activities in 2021 and outlook for 2022. With 13 funds on stage, each with a 5-7 minute overview, we heard news on fundraising, investments, exits, partners, team and much more:

  1. Siena Secondary Fund / Rando Rannus
  2. Iron Wolf Capital / Kasparas Jurgelionis
  3. BaltCap / Kristjan Kalda
  4. BPM Capital / Kalmer Kikas
  5. Change Ventures / Yrjö Ojasaar
  6. EfTEN Capital / Viljar Arakas
  7. Karma Ventures / Kristjan Laanemaa
  8. Superangel / Kaari Kink
  9. Tera Ventures / Andrus Oks
  10. Trind Ventures / Joel Aasmäe
  11. United Angels / Gerri Kodres
  12. United Partners / Tarmo Rooteman
  13. Perot Jain / Cindy Revol
  • Event recording - please click HERE

Thanks so much for all the 90+ participants and to our supercool funds presenting!

 

 
 
 
 
 

Upcoming events

 
 

Latitude59 2022

19-20 May, 2022

Kultuurikatel, Tallinn

 
 
 
 

Latitude59 is the flagship startup and tech event of the world’s first digital society with over 2500 attendees. The tech gathering brings together key players who are serious about startups and investing.

 

  • Get your tickets on FIENTA with a special EstVCA code (-10% from investor tickets) - use "ESTVCA10xL59" as the dicount code.

 
 
 
 
 

Baltic VCA Summit 2022

 

25-26 August, 2022

Riga, Latvia

 
 
 
 
 
 
 
DEALS

Our members'
investments & exits

January 2022

 
 

INVESTMENT:  Karma Ventures - Infermedica

 
 
 

Karma Ventures’ portfolio company Infermedica raises $30M Series B round investment

Read more
 
 
 
 
 

INVESTMENT:  Karma Ventures - Tuum

 
 
 

Karma Ventures’ portfolio company Tuum raises €15m Series A round investment

Read more
 
 
 
 
 

INVESTMENT:  Livonia Partners - Bestair & Zave Group

 
 
 

Bestair Group and Zave Group team up with Livonia Partners for next growth phase

Read more
 
 
 
 
 

INVESTMENT:  BaltCap - Biovatas

 
 
 

BaltCap Infrastructure Fund will finance greenfield biomass CHP construction in Alytus

Read more
 
 
 
 
 

INVESTMENT:  Trind VC - Biovatas

 
 
 

Trind VC participates in the $13 million A-round investment to metaverse avatar platform Ready Player Me

Read more
 
 
 
 
 
MEDIA
 
 

Recent media covearge (in Estonian)

 
 
 
 
 
 
 
 
 
SURVEY
 
 
 
 
 

European Women in VC and IDC invite everyone to participate in their new survey

 

We are again exploring gender diversity in the VC market. This time our research (and survey) will cover 27 countries in the EU.

 

The report will focus on the perspective of the position of women as founders and funders in the venture capital industry. 

 

  • Read more and fill out the survey HERE

 
 
 
 
 
 
 

Header photo credit: 

https://unsplash.com/@allthestories

 

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estvca.slack.com

 

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