Baltic VC Pulse | August 14 - 21, 2024
This week we tracked more than 40 Baltic VCs and recorded multiple transactions, event participation announcements, and other notable news. Here's what we found.
👋 Hi, and welcome to Baltic VC Pulse, your guide to the Baltic venture capital scene. Every Thursday, we publish a roundup featuring the latest fundraisings, events, job opportunities, and insights from over 40 Baltic VCs. Join us to stay ahead of the curve in the Baltic VC ecosystem and to be the first to know about any emerging opportunities.
Brought to you by RivalSense - The Company Monitoring Tool.
Do you know what your competitors, clients, target accounts, or investors are up to? Monitor their fundraisings, market entries, employee changes, product offerings, pricing updates, and other news using RivalSense. Receive concise insights delivered to your inbox every week 💡
💸 Fundraising News
Estonian startup UP Catalyst has raised an additional €2.36 million in seed funding, with backing from Warsaw Equity Group, SmartCap, and continued support from Little Green Fund, Sunly, UniTartu Ventures, Scottish Baltic Invest, and Extantia, aiming to scale industrial production of battery materials from CO2 emissions
Riga-based theIntelligent VC invested an undisclosed amount in the gambling and betting data analytics platform Blask
ZGI Capital sold its stake in the leading Latvian fintech company Mobilly to an SPV owned by SIA V Baltic Partners, Valdis Bergs, and SIA Civinity Majas Jurmala
Justinas Pasys, Founder of NGL, became an investor in Unmanned Defense Systems
Reima Linnanvirta, Partner at Trind Ventures, announced funding availability for European software startups with proven traction and strong unit economics
Tenity is now seeking to make multiple pre-seed/seed investments in the Baltics and Nordics, with ticket sizes ranging from €50-300k
Vendep Capital promoted High Alpha’s 2024 SaaS Benchmarks survey, encouraging SaaS founders to participate for early access to valuable insights
🎟️ Event Participation
theIntelligent VC will host IdeaTON this Friday, on August 23rd, inviting developers and designers to brainstorm mini-app ideas for Telegram with a $500 prize pool
Tenity will host the first episode of season 2 of 'Apéro with Tenity' in Tallinn on August 29th, featuring pitches from their new accelerator batch and a fireside chat on the AI Act with Silvia Urgas from TGS Baltic and Aleksander Tsuiman from Veriff
SmartCap will be moderating an exclusive LP Evening Session at the Baltic VCA Summit in Vilnius on September 4th
Change Ventures' partner Andris K. Berzins will be speaking on the DefenceTech panel at the Baltic VCA Summit on September 5-6
Katalista Ventures will be participating in TechVillage 2024 in Moldova on September 6-8
Janiina Lammi from Vendep Capital will be speaking at the Stream Connect event in Tampere on September 11th
Alessandro Bertino, ClimateTech Investor at Contrarian Ventures, will be moderating the Asset-as-a-Service workshop at The Drop on September 16th in Malmö
Mark Robinson, Commercial Director at Yolo Investments, will be attending the SBC Summit in Lisbon on September 24-26
Andris K. Bērziņš from Change Ventures will attend the Resilience Conference in London on September 26-27
Katalista Ventures will co-host an emotional health hackathon with 'Jaunimo linija' on October 26-27, to find solutions for young people's mental health challenges
theIntelligent VC will be the exclusive regional partner for the AI for Good Innovation Factory Baltics event on December 6th hosted by the National AI and Cybersecurity ISAO
Join the rapidly growing Baltic VC Pulse community and never miss a beat in the Baltic venture capital ecosystem ⚡
💡 Other Notable News
Contrarian Ventures and Coinvest Capital's portfolio company Inbalance Grid, the largest Baltic EV charging network operator, has entered the Polish market through a major partnership
Jacob Busck Andersen joined byFounders as VP Finance & Fund Operations in Denmark, previously serving as Head of FP&A at Leapwork
Artūras Baravykas from NGL has joined Tiings, a zero-effort repair service, as an advisor, focusing on growth strategy and operational execution
Lukas Gudelis joined Tenity's Baltic investing team to support early-stage startups in the financial industry
Coinvest Capital's portfolio company Axiology was shortlisted for a UK initiative to attract global innovators
Tomosaku Sohara from NordicNinja VC discussed the expansion of a16z into Japan and Europe, highlighting the competitive pressure on local VCs
Raimonds Kulbergs from BADideas.fund emphasized their investment focus on teams targeting the US market, citing Eric Schmidt's insights on AI and market dynamics
Lasse Lehtinen, General Partner at Icebreaker.vc, observed that most successful founders in Icebreaker's portfolio prefer traditional office setups
byFounders released their Q2 report detailing funding flows, leading New Nordic countries, active sectors, and invested capital in diverse founders:
Thank you for reading this week’s edition. If you enjoyed it, please leave a like or comment, and share it with your friends. If you have any suggestions, would like us to feature a recent fundraising, mention that you're looking to invest, or simply list a job vacancy, reach out to us! We'd love to include it in the next issue of Baltic VC Pulse 🚀
All the best,
RivalSense Team
RivalSense helps you discover new business strategies by delivering insights about your competitors, key accounts, or investors directly to your inbox. Try our 2-week free trial now 💡