May and June have been exceptionally productive for the BaltCap team, due to our focus on new investments, investor meetings, fundraising, and team expansion.
As we enter June, it's time for our annual sustainability update. This year marks the 12th consecutive publication of our ESG report, which further confirms our commitment to fostering a more sustainable future. In these reports, we highlight the noteworthy ESG accomplishments within the BaltCap portfolio, demonstrating our ongoing dedication to sustainability.
In 12 years a lot has changed in the sustainability landscape, including a shift from voluntary to mandatory ESG reporting, and sustainability practices from niche to mainstream. Most importantly, in BaltCap, we have moved from reporting ESG information to showcasing how our investments are making a real, positive impact.
In terms of 2022, we take pride in the fact that an increasing number of our companies are turning systematic ESG management into a business advantage. Additionally, the progress made by our portfolio in reducing its carbon footprint and mitigating climate risks, as well as contributing to the circular economy and biodiversity protection, is rewarding. Last but not least, we are content that supporting Ukraine is still a focus of our companies.
Enjoy the newsletter, our fresh ESG report, and the summer!
Martin Kõdar
Managing Partner
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BaltCap to acquire a majority stake in Hansab, the leading Baltic automation services provider
Hansab has a strong presence in the Baltics and Finland, with 18 offices and service points across the region. With BaltCap’s investment and expertise, the company plans to expand outside the region and diversify its service portfolio.
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BaltCap became the sole shareholder of the high-tech company HansaMatrix
After acquiring 93.1% of HansaMatrix shares through a voluntary takeover bid on Nasdaq Riga in April, BaltCap completed the final buy-back of the remaining 6.9% of shares in May. After the completion of the deal, BaltCap delisted Hansamatrix from the regulated market to focus on the long-term development of the company and unlock its further growth potential.
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BaltCap-backed Adoro expands its reach in Latvia’s care sector
BaltCap is acquiring a 100% stake in Senior Baltic SIA from Orpea Group, a global player in the care sector. With this deal, Adoro is acquiring Dzintara Melodija, a 202-bed retirement home located in Riga. The add-on investment is part of Adoro’s strategy to build a leading social and healthcare chain in Latvia.
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BaltCap invested in the Estonian Digital Book Centre to accelerate its growth in the Baltics
The main goal of the investment is to enter the Baltic market as well as further develop the company’s technology platform and services, providing customers with modern solutions for e-books and audiobooks.
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Vet Ventures to acquire an 85% stake in Jakovo Veterinarijos Centras
Backed by BaltCap and 1 Asset Management Petcare Growth Fund, Vet Ventures is making an add-on investment to acquire an 85% stake in one of the oldest and most trusted veterinary clinics in the Baltics.
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BaltCap Infra helps municipalities to modernise residential infrastructure and achieve energy savings
The representatives of BaltCap and Połczyn-Zdrójit, a Polish municipality, signed a contract to carry out a deep energy modernisation project of local residential buildings. It is BaltCap’s fifth investment in Poland.
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BaltCap Infra company BM Holding switches to biomethane production
The leading biogas group in Latvia is on its way to becoming the largest biomethane producer in the country. The transition from biogas to biomethane production will ensure a more sustainable supply to customers. The modernised stations will produce annually ca 60 GWh of biomethane, which equals two years’ worth of current consumption of natural gas in the Latvian transport sector. Biomethane will be produced mainly from household waste and manure.
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BaltCap-backed Tradehouse opened its flagship store in Latvia
The brand new 1250 m2 store is located in Riga’s Olimpia shopping mall and offers more than 800 brands. With this step, Tradehouse is becoming one of the largest providers of beauty products both for professionals and retail clients on the Latvian market.
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BaltCap’s school revitalisation project awarded by United Nations
A public–private partnership project of school revitalisation, implemented by BaltCap Infrastructure Fund, received a special commendation at the 7th edition of the United Nations Economic Commission for Europe.
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BaltCap 2022 ESG report published
BaltCap’s 12th consecutive ESG report is out. Take a look to find out what have been the main ESG-related developments in BaltCap and its portfolio companies. Our focus in 2022 encompassed implementing ESG action plans, tackling CO2 emissions and onboarding a new sustainability data management platform.
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BaltCap received a gold-level quality label from the Responsible Business Forum in Estonia (VEF)
BaltCap participated in the evaluation of its sustainability and ESG practices for the 12th consecutive year, and received the highest gold-level award for the sixth time. BaltCap team members Riin Savi and Kerstin Ojavee participated in the awards ceremony at Kai Kunstikeskus in Tallinn.
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Peeter Saks at the Bank of Estonia’s seminar “A new era: the end of cheap money”
Speaking at the seminar focusing on the impact of interest rates on the financial sector, businesses, and citizens, BaltCap’s Managing Partner shared his views on how the increasing interest rates are affecting non-bank financing and the PE industry.
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Juri Pervjakov at the Invest Europe CFO Forum
BaltCap’s Finance and Technology Director joined a panel at the forum to discuss the influence of new technologies and AI on the PE and VC sectors. The key takeaways highlighted that emerging technologies will enhance operational efficiency, without necessarily reducing staff, while the extensive use of Excel will still continue.
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Baltic Private Equity and Venture Capital market overview 2022 is out
The report gives a detailed overview of the Baltic PE and VC funds, and presents the dynamics in the capital raised, investments, and exits in 2022. In a nutshell, the Baltic PE/VC industry has again shown substantial growth and reached record heights. In 2022, Baltic PE/VC funds completed over 220 transactions investing a record €212 million into Baltic companies, delivering YoY growth of 44%.
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Don’t miss the Baltic VCA Summit 2023 in Estonia
The key Baltic Private Equity and Venture Capital industry players will meet on 24–25 August in Pärnu, Estonia to discuss key challenges, opportunities, and the outlook for the upcoming period. This year’s summit focuses on cooperation in the New Nordic region.
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Breaking Down Private Equity Funding: why did Weekend choose BaltCap?
Continuing with the new series, we chatted with Taavi Laeks, the founder and CEO of WeekendShoes.ee, the leading omnichannel footwear and apparel business in the Baltics. Taavi shared his thoughts on why private equity fundraising should be chosen, its most significant advantages, and how to prepare for financing.
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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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