The last two months have been very busy for BaltCap. In addition to two notable exits and the kick-off of a new wind farm construction, we welcomed three new team members and held the first BaltCap Academy.
The inaugural BaltCap Academy held at Laulasmaa, Estonia, brought together more than 100 people. I hope BaltCap portfolio company managers, our alumni, and the investment team enjoyed networking and sparking discussions on building businesses for a better tomorrow.
At Academy, we hosted two distinguished speakers – Toomas Hendrik Ilves, President of Estonia from 2006–2016 and Professor Michael Jacobides from the London Business School. Both of them stressed that for building better businesses and more cohesive societies, we increasingly need to look for opportunities beyond our own business models and home countries.
With this note, I invite you to take a moment and think – let’s all make an effort to clarify our company’s role and position in the surrounding business ecosystem. And let’s take pride in further developing the pan-Baltic region, which has so much to offer in terms of innovative businesses and young talent!
Dagnis Dreimanis
Managing Partner
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BaltCap and Nalka to sell Intrac to United Partners Investments
BaltCap Baltic Investment Fund III sells INTRAC Group, a leading distributor of machinery for forestry, construction, agriculture, and industry in the Baltics to United Partners Investments, a Baltic investment company. – Read more
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BaltCap exited Uprent
BaltCap Private Equity Fund II signed an agreement to sell UPRENT to Renta, the fastest-growing Nordic equipment rental company. During the investment period, the company successfully expanded its network of depots in the Baltics and Poland and broadened the range of service offerings. – Read more
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BaltCap Infrastructure Fund starts the construction of a EUR 42 million wind farm
Six wind turbines with a total capacity of 30 MW will be installed in Žvirgždaičiai in Lithuania’s Šakiai district. This is the third wind energy project developed by BaltCap. Together with partners, BaltCap has developed wind power parks with a total capacity of 42 MW in Lithuania and Estonia. – Read more
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BaltCap-backed Krekenavos Agrofirma switched to green energy
Linas Grikšas, CEO of Krekenavos Agrofirma talks how the company strives to contribute to the environment: by reducing pollution, CO2, and using renewable resources. The company switched to green electricity in January 2022.
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In addition, the company is increasing its electricity generation capacity — it plans to double the expansion of its solar power plant in 2022, which will satisfy around 14% of the company’s electricity needs. Grikšas says: “Timely decisions and implemented sustainability projects not only pay off but also provide a significant competitive advantage, and we are already reaping the benefits.” – Read more (in Lithuanian)
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BaltCap portfolio companies completed CO2 footprint measurements
To actively contribute to decarbonizing the economy and meeting the EU’s 2050 climate-neutrality agenda, BaltCap initiated a portfolio-wide CO2 measurement. Scope 1 and 2 emissions (direct emissions from sources controlled or owned by companies and associated with energy purchases) mapping was completed in late May. The results of this measurement provide the baseline for company-based reduction targets that are currently being set.
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BaltCap Academy
On June 16–17, the first BaltCap Academy took place in Laulasmaa, Estonia. The gathering aimed to spark discussions on how to build businesses for a better tomorrow while engaging BaltCap portfolio company managers, our alumni and the investment team. The two-day event brought together 100+ participants from 7 countries and 30+ portfolio companies.
We had the pleasure of hosting the former President of Estonia, Toomas Hendrik Ilves, for the opening speech as well as keynote speaker Michael G. Jacobides, Professor at London Business School. In addition, there were CEO panels where our portfolio companies' management teams shared insights on the integration of physical and digital realities as well as the do's and don'ts of a good exit.
The official programme was followed by many hours of making fruitful connections and having fun during the dinner reception and joint sports activities.
– Have a look at the gallery
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BaltCap welcomes three new colleagues
BaltCap strengthened its experienced team with three new professionals. Pawel Szykowny joined BaltCap Infrastructure Fund as Investment Director and will focus on projects in Poland. Renate Murniece starts as Riga Office Manager and will take care of office operations in Latvia. Natalia Chraplewska joined BaltCap’s Poland team and will build up Warsaw’s office functions.
With new members on board, BaltCap unites 40 professionals with various industry backgrounds in its Tallinn, Riga, Vilnius, Warsaw, Helsinki, and Stockholm offices.
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Sarunas Alekna listed among Real Deals’ Future 40 investment leaders
The Future 40 Mid-Market Investment Leaders list highlights dealmakers who delivered outstanding value, strong exits, and record returns in 2021. Sarunas was awarded for his lead role in BaltCap’s investment in Ecoservice.
Judges noted the quality of the ESG-driven deal’s return and the fact that Alekna played a game-changing role when it came to market consolidation and the people and customer sides of the business. – Read more
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BaltCap completed its CO2 footprint measurement
BaltCap completed the measurement of its total CO2 footprint (Scope 1-3) and set its reduction policy and targets. The results indicate that the bulk of BaltCap’s emissions come from business travel and commuting, as expected. Martin Kõdar, the Managing Partner at BaltCap, says several ideas for reduction are being discussed. “Numerous initiatives are being tested and negotiated mainly concerning renewable fuels for cars and flights. Some steps have already been taken – moving to an environmentally efficient office in Tallinn, sorting waste, and reducing bottled water usage in all our offices.” Kõdar emphasizes that BaltCap as a fund manager wants to lead by example for its portfolio: “We want to be part of the climate solution, no matter how small the CO2 footprint. We are eager to test and pilot different initiatives that help to reduce our emissions. We hope it motivates our portfolio companies to do the same.”
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BaltCap and Neste launch sustainability partnership
The joint venture of BaltCap and CapMan, CaPS Baltics, launched a partnership with Neste that welcomes BaltCap and its portfolio companies to reduce their GHG emissions by using the Neste MY Renewable Diesel. Produced from 100% renewable raw materials, the Neste MY Renewable Diesel helps to reduce greenhouse gas (GHG) emissions by 90% on average when emissions during the fuel's life cycle are compared with fossil diesel.
– Find out more.
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Maido Lillemets: choosing the right jurisdiction for a fund
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Baltic Private Equity market overview
The 2021 overview of Baltic Private Equity and Venture Capital Market published by Deloitte, EstVCA, LVCA, and LTVCA is now available.
– Watch the webinar recording, where BaltCap Partner Kristjan Kalda together with Ernests Bordans from Livonia Partners, Arvydas Bloze from Practica Capital and experts of Deloitte comment on the recent developments and share insights about the future.
– Read the report
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Marek-Andres Kauts: Green Deal – Utopia or Realism?
BaltCap Investment Director Marek-Andres Kauts participated in a high-level panel discussion titled “Green Deal – Utopia or Realism?” at the Postimees Grupp’s conference on green transition.
– Read the main takeaways of the discussion
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BaltCap at the Private Equity Insights Poland & CEE 2022
BaltCap Managing Partner Simonas Gustainis and Partner Šarūnas Alekna participated the Private Equity Insights conference in Warsaw, Poland.
Simonas shared his knowledge on the panel ‘Avoid Being Left Behind: Leveraging Opportunities in ESG’ and Šarūnas took part in the discussion focusing on ‘The Best Exit Strategies in 2022’.
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25+ years
track record
4
investment strategies
110+
platform investments
40+
investment professionals
6 countries
with branch offices
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€700m
capital raised to date
65+
exits
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