EstVCA and universities again team up for a special Private Equity and Venture Capital course

30 January 2023

In the 2023 spring semester, a specially tailored Private Equity and Venture Capital syllabus will be taught for the second time at two universities in Estonia - TalTech and Estonian Business School. The 8-week course, created in cooperation between the universities and the Estonian Private Equity and Venture Capital Association (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 is designed on the basis of both Estonian and international practices, and the lecturers are experienced fund managers and experts in the field.


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 (Katana), Yrjö Ojasaar (Change Ventures), Indrek Kaldoja (eAgronom), Linda-Riin Võeras (Karma Ventures), Mihkel Kolk (Deca Legal), Kalle Ahi (TalTech), and Aet Toots (EBS).

TalTech will start the course on February 8, 2023 in Estonian, and EBS will begin the course on March 8, 2023 in English. The new curriculum is mainly aimed at university students, but to a certain extent, people not enrolled at either school can join through TalTech. For students enrolled at TalTech, those interested in the course can also take it as an in-service training.

The number of places is limited and registration is available at
  • TalTech - LINK
  • Estonian Business School - LINK
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Tallinn University of Technology (TalTech) is the flagship of technical and IT science and education in Estonia, where higher education is available at all levels in engineering and technical sciences, information technology, economics, natural sciences and maritime affairs. TalTech's mission is to be a promoter of science, technology and innovation and a leading provider of engineering and economic education in Estonia. www.taltech.ee

Estonian Business School (EBS) is the oldest private university in Estonia focused on economics education, with a total of 1,400 students studying at the bachelor's, master's and doctoral level, who can complete their knowledge at 60 partner universities around the world. EBS also includes a gymnasium with 120 students. www.ebs.ee

The Estonian Private and Venture Capital Association (EstVCA) is an organization uniting representatives of the private equity and venture capital industry and support service providers in the field, whose assets under management amounted to 2.88 billion euros at the end of 2021. Today, EstVCA has 59 member organizations, the main members of which are Ambient Sound Investments, BaltCap, BPM Capital, Change Ventures, Eften Capital, European Investment Fund, European Bank for Reconstruction and Development, Iron Wolf Capital, Kaamos Group, Karma Ventures, KredEx, LHV Varahaldus, Livonia Partners, Perot Jain, Siena Secondary Fund, SmartCap, Superangel, Startup Wise Guys, Swedbank Investment Funds, Tera Ventures, Trind Ventures, United Partners, UP Invest, and Wellman. www.estvca.ee

Additional information:

Kadri Lindpere
Managing Director
Estonian Private and Venture Capital Association / EstVCA
+372 505 1239
kadri@estvca.ee

Kalle Ahi
Lecturer at the Department of Economics and Finance
TalTech
kalle.ahi@taltech.ee

Maarja Murumägi
Academic Vice-Rector
Estonian Business School
maarja.murumagi@ebs.ee

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Photo credit: lecturers; https://unsplash.com/@moren

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