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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Karma Ventures co-leads the $15 million investment to DRUID

The Romanian startup plans to open new offices in France and Germany by the end of 2022 and consolidate its existing presence in the U.K. and U.S.

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Change Ventures co-leads in the $9m seed funding round of its portfolio company Aerones

Aerones, the Latvian startup that makes wind turbine inspection a snap with its proprietary robots, has raised $9 million in seed funding to further accelerate the global scaling of its robotic wind turbine maintenance and inspection services.

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Change Ventures and Equity United participate in the $40M Series A funding round of their portfolio company Eurora

The funding is targeted for its AI-based system to automate EU e-commerce shipping compliance.

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Superangel and United Angels VC participate in the €4M seed round investment to KOOS

KOOS.io, founded by a serial tech-entrepreneur and investor Taavi Kotka, has created a way to engage various stakeholders in the development of an organisation and to share its economic achievement with them without the need to register them as shareholders.

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BaltCap invests in solar energy generation in Latvia to enhance the energy independence in the Baltics

BaltCap Infrastructure Fund, AJ Power group and AJP Capital’s Solar Core Plus Fund have signed an agreement to establish a joint venture to develop solar energy generation in Latvia. 30 MW solar farms will be built over the next three years. The plan also foresees expansion across the Baltics and increasing the capacity of the solar plant portfolio to 100 MW.

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Superangel and Tera Ventures participate in the €11m Series A-round to Montonio, Index Ventures leads the round

Montonio, the all-in-one platform for online merchants to accept payments, offer financing and handle the entire post-checkout experience from shipping to returns and refunds, has raised €11 million in a Series A funding round led by Index Ventures.

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NEW FUND: BPM Mezzanine Fund II held the first close to invest in mezzanine debt in the Baltic and Polish growth companies

BPM has reached the first close of its second investment fund, BPM Mezzanine Fund II with the first close commitments close to €60m. The target size of BPM Mezzanine Fund II is €70m.

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BaltCap invests in Nord Security, a global leader in internet privacy and security solutions

BaltCap together with lead investor Novator Ventures, General Catalyst and Burda Principal Investments participated in the $100M financing round to Nord Security, a global leader in internet privacy and security solutions.

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In support of Ukraine

EstVCA, being a member of Invest Europe, dedicates its utmost efforts to support Ukraine and its people in the fight against the aggressor. There are several steps we have taken to recognise and do what we currently can to address the terrible situation currently unfolding in Ukraine.

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