Baltic Private Equity and Venture Capital Market Overview 2024

We are pleased to present the Baltic Private Equity and Venture Capital Market Overview 2024. Now in its sixth year—and the third in collaboration with KPMG Baltics—this report continues to track key developments across the region’s PE/VC landscape.

Baltic Market Highlights


3.77B EUR raised since 2010

265M EUR raised in 2024

1.08B EUR dry powder as at the end of 2024

233 deals involving Baltic companies in 2024

151M EUR amount invested into Baltic companies in 2024

97 investments outside of the Baltics in 2024

173 M EUR outbound investments in 2024

106 active funds as at end of 2024


Fund managers list

1. BaltCap

2. NordicNinja

3. BPM Capital

4. Change Ventures

5. Karma Ventures

6. Siena Secondary Fund

7. Superangel

8. Specialist VC

9. Tera Ventures

10. Trind Ventures

11. Startup Wise Guys

12. Smartcap

13. 2C Ventures

14. Plural

15. Equity United

16. Contrarian Ventures

17. INVL Asset Management

18. Iron Wolf Capital

19. LitCapital

20. Envolve Capital (fmr. Modus Asset Management)

21. Open Circle Capital

22. Practica Capital

23. Firstpick

24. Aneli Capital (fmr. Verslo Angelu Fondas)

25. 70 Ventures

26. Equite

27. Coinvest Capital

28. 1 Asset Management

29. Nter

30. Baltic Sandbox Ventures

31. Sound Asset Management

32. Capitalia

33. Buildit Latvia

34. Commercialization Reactor

35. Expansion Capital

36. Fly Cap;

37. Livonia Partners

38. Overkill Ventures

39. ZGI Capital

40. Merito Capital

41. BadIdeas Fund

42. Imprimatur Capital Fund Management

43. ASP Asset Management

44. AJ Power (new addition)

45. Raft Capital (new addition)

46. Zabolis and Partners (new addition)

Looking for the previous report?

Download the Baltic Private Equity and Venture Capital Market Overview 2023 by clicking the link below.