Siena Secondary Fund acquired a stake in Latvian soonicorn Printify

Printify is an e-commerce marketplace that offers print-on-demand service for various companies and creators around the world.

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EVENT: Baltic VCA Summit 2022 / 25-26 August / Riga

Please join the largest Baltic PE/VC event – The Baltic VCA Summit 2022 – which this year takes place in Riga on 25-26 August. The traditional annual event, which rotates across the Baltics, brings together all the leading regional GPs and LPs and features inspiring discussions on investments, strategy, impact, motivation and much more.

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Karma Ventures participates in the $17 million in funding round to Lucinity

Reykjavík-based Lucinity has raised $17 million in funding. The Series B round was led by Keen Venture Partners and joined by Experian and its major existing investors, Crowberry Capital, Karma Ventures, and byFounders. The platform will use the proceeds to accelerate growth and geographic coverage for its unique Human AI technology.

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Specialist VC participates in the €7.4 million founding round to Certific

Digital disruptor in healthcare Certific has raised €7.4 million of investment to advance remote medical diagnostics led by Plural and backed by EstVCA member Specialist VC and angel investors such as Christopher North, former UK MD of Amazon. The funding will drive its product expansion and entry into new markets.

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EXIT: BaltCap sells Vendon to international technology group Azkoyen

BaltCap, the largest private equity and venture capital investor in the Baltics, sells Latvian company Vendon SIA to Azkoyen, Spain’s the most remarkable technology multinational company. Vendon SIA is part of Draugiem Group and is a leading company in connectivity and IoT solutions in digital payment and telemetry in Central Europe.

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Change Ventures participates in the $2.1 million funding round in its portfolio company 99math

Estonian startup 99math has raised $2.1 million to boost its edtech math gaming platform aimed at making math fun. The new funds will help the company reach the U.S. and other markets with more social gameplay.

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EXIT: Nordigen, an open banking platform, to be acquired by UK-based payments unicorn GoCardless

Nordigen, an open banking platform, to be acquired by UK-based payments unicorn GoCardless. Investors in Nordigen included EstVCA members Superangel, Gerri Kodres and Riivo Anton as angels.

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Trind Ventures' portfolio company Tise (Norway) raises €20M funding round

Tise is a marketplace for second hand fashion and interior with a strong Nordic community of changemakers

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NEW FUND! Estonian entrepreneurs co-found a €250 million European investment fund

Estonian startup entrepreneurs Taavet Hinrikus and Sten Tamkivi, together with Ian Hogarth and Khaled Heloui, co-founded a new pan-European investment platform, Plural, with a €250 million early-stage venture fund to back the next generation of founders with global ambitions.

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Tera Ventures participates in the €18M investment to 4Trans

Czech fintech startup 4Trans is on a mission to transform how logistics and supply chain companies use and access financial products

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EstVCA 2021 in numbers

2021 was another record-breaking year for the investing members of the Estonian Private Equity and Venture Capital Association (EstVCA). In 2021 EstVCA member AUM has reached €2,88bn. In total €290m was invested in 148 companies, €155m of that invested by PE/VC funds. There is a total of 484 active portfolio companies with a number of employees reaching 20 600 people. In 2021, nineteen divestments were made by our members, fourteen of which by professional funds. The dry powder of EstVCA members as of 31.12.21 was €624m.

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