December 2020

 
 
 
 
 
 

Time to wrap the year up!

 
 

This year will be remembered as most unpredicted and challenging, but our Private Equity and Venture Capital sector proved resilient - we saw the rise of 5th Unicorn in Estonia, and our funds have also been very active with nearly 30 investments and record-high exit activity.

 

A selection of highlights from our year:

  • REPORT: 10 years of Baltic PE/VC market (2010-2019) report launched together with Deloitte.
  • DEAL TALKS: EstVCA started its DEAL TALKS series – a format where we ask 3 questions from our member fund about their investment, to dig a bit deeper on how our funds invest.
  • COFFEE CONNECTIONS: our own series of monthly morning seminars to tackle the most important topics and key players in the industry.
  • NEW FUNDS: SmartCap has announced the new Deep Tech Fund criteria. EfTEN launched its first residential fund.
  • UNIVERSITIES: 2020 marks the beginning of active and systematic cooperation with Estonian universities.
  • SURVEYS: we conducted a Market Pulse survey in April to analyse the funds’ sentiment, and again in December, results of the latter to be published in mid-January.

Let's keep up the good pace and thank you for the great cooperation!

 

Best wishes and happy holidays!

EstVCA team

 
 
 
NEWS

News from EstVCA

and its members

 
 
 
 
 
 
 

SmartCap has launched a Call for Expressions of Interest to select a private fund manager to establish and manage a deep tech investment fund. The deadline for submitting an Expression of Interest and all relevant documents is 1 March 2021.

>>Read more

 

University of Tartu to establish an intellectual property investment company

>> Read more

 
 
 
 
 
 
 

EfTEN’s new fund raised 33 million euros to invest in the Baltic rental apartment buildings

>> Read more

 

 

Kristjan Tamla, current CEO of Swedbank Investment Funds AS, joins EfTEN Capital from January 2021

>> Read more

 
 
 
NEW MEMBERS
 
 

Welcome to EstVCA!

 
 
 

TECH X LEGAL


TECH X LEGAL is one of the newcomers on the market focusing on the technology and law intersection and supporting startups and business angels with transactional advice. Our founder Anne Veerpalu is particularly experienced in venture investments and supporting technology companies from launch to IPO. We focus on optimisation of your legal needs through developing compliant processes and implementing these, conducting audits of processes and reviewing practises to take your company towards your business goal. We work well with high-performance leaders who wish to achieve quick and high-impact results.

 
 
 
SEMINARS & CONFERENCES

A selection of events

 
 

EstVCA COFFEE CONNECTIONS

 
 
 
 

#3 Let's wrap the year up fireside chat 17/12/20

On December 17th four Estonian startup ecosystem organisations – Startup Estonia, Estonian Founders Society, EstBAN and EstVCA organised a joint 2020 wrap-up fireside chat to take a panoramic view on ecosystem developments! We had Martin Villig, Eve Peeterson, Ivo Remmelg and Margus Uudam taking us 10+ years back and visioning the 10+ years ahead and covering topics like: 

  • What is behind the success of our now already five Estonian unicorns, starting from the big boom with Skype? Is there a pattern to follow?
  • Short and long-term trends and milestones in the ecosystem.
  • Could the “we never give up” kind of good stubbornness be behind Estonias' startup ecosystem success?
  • Have we reached a place where it is time for us to redefine the rules for the ecosystem?
  • Does our ecosystem need a joint vision or pre-defined theme to follow for the next 10 years?
  • Could the startup sector continue to grow at the same pace so that in 10 years' time one-third of the Estonian economy comes from that sector?
  • Where can we get an additional 50 000 tech-students to Estonia?
  • Is the funding market seeing drastic changes from successful exits and should we keep the capital in Estonia? 

The recording of the fireside chat can be viewed HERE

 

#2 Baltic Private M&A Deal Points Study 2020 26/11/20

Our second Coffee Connections event, held on November 26th, marked the exclusive launch of the annual "Baltic Private M&A Deal Points Study 2020" and the event featured an online panel discussion amongst the six leading Baltic law firms behind the report, all members of EstVCA - Sorainen, Ellex, TGS Baltic, WALLESS, Eversheds Sutherland and COBALT. 

  • Read more and download the report HERE
 
 
 

OTHER KEY
INDUSTRY EVENTS

 
 

WEB SUMMIT 2020 Masterclass „e-Estonia: The startup journey in the land of unicorns"

On December 4th, Invest Estonia together with EstVCA carried out a masterclass „e-Estonia: The startup journey in the land of unicorns“ at the 2020 WebSummit. This was a one-of-a-kind startup journey that took the viewers through all the key steps and phases of a startup. During the masterclass the viewers could learn how to start a company in Estonia with the help of startup ecosystem experts covering different angles of the process. 

  • Click HERE for the story and full 30-minute video of the journey.
 
 
 
 
 
  
 
 
 
 
 

NEW DATE!

Baltic-Nordic GP/LP MOMENTUM Conference

February 17, 2021

The Baltic and Nordic regions have been exceedingly successful in building world-class startups and scaleups and ecosystems to support this growth. The Baltic-Nordic PE/VC MOMENTUM 2021 conference takes a step further to bring together regional thought leaders to analyse what is the next chapter for the regions' ecosystem innovation to flourish.

More info coming soon!

 

Latitude59

May 27-28, 2021

Our flagship startup and tech conference Latitude59 is taking place in the end of May, with Investor day on May 26th and conference on May 27-28, 2021.

 

Tickets already for sale,

read more HERE

 

 
 
 
 
 

sTARTUp Day 2021

will take place

in August!

Taking into account the current situation, regulations and predictions, the organising team of the event decided to move the festival to the end of summer and will be held on 

August 25-27, 2021.

Read more HERE and stay tuned for the epic summer festival in Tartu!

 

CVC seminar organised by
Tera Ventures and KPMG

November 18, 2020

Our member Tera Ventures, together with KPMG Estonia organised an online seminar and roundtable discusion on CVC outlook and developments in Estonia.

 
 
 
DEALS & DEAL TALKS

Our members' 

Investments & Exits

November/December 2020

 
 

EXITS

 
 

EXIT: BPM Mezzanine Fund - Smiltenes Piens

 
 
 

BPM Mezzanine Fund exited its investment in Latvian dairy company Smiltenes Piens

Read more
 
 
 
 
 

EXIT: BPM Mezzanine Fund - Eskaro

 
 
 

BPM Mezzanine Fund portfolio company Eskaro group will be acquired by Flügger group

Read more
 
 
 
 

INVESTMENTS

 
 
 
 

INVESTMENT: Change Ventures / Superangel - Fyma

 
 
 

Change Ventures led and Superangel participated in the $1.8 million seed round to Fyma

Read more
 
 
 
 
 

INVESTMENT: Superangel - Port 6

 
 
 

Superangel led the €1 million investment to Port 6

Read more
 
 
 
 
 

INVESTMENT: Karma Ventures - Modularbank

 
 

Karma Ventures co-led the €4 million investment to Estonian fintech startup Modularbank

Read more
 

Marili Merendi of Karma Ventures in EstVCA DEAL TALKS

Read more
 
 
 

INVESTMENT: Superangel - Salv

 
 
 

Superangel leads the €1.5 million investment
round to Salv

Read more
 
 
 

INVESTMENT: BaltCap - Verkter

 
 

BaltCap invests in Verkter – a fast growing e-commerce group for DIY tools and accessories

Read more
 

Marius Miškinis of BaltCap in EstVCA DEAL TALKS

Read more
 
 
 

INVESTMENT: BaltCap - Coffee Address

 
 

BaltCap portfolio company Coffee Address completed the acquisition of Kafe-Serviss

Read more
 

Sandijs Abolins-Abols of BaltCap in EstVCA DEAL TALKS

Read more
 
 
 

INVESTMENT: BaltCap - PPP in Poland

 
 

BaltCap to finance the largest PPP for the construction of local government road lighting in Poland

Read more
 

Maciej Kopanski of BaltCap in EstVCA DEAL TALKS

Read more
 
 
 
 
 
REPORTS

A selection of recent

reports and studies

 
 
 
 
 

CHANGE VENTURES

Baltic Startup Funding Report 2020

 

>> Read more HERE

 

STARTUP WISE GUYS

2020 Report: Baltic Startup Scene

 

>> Read more HERE

 
 
 
 

Follow EstVCA on social media: