Posts Tagged ‘Funding’
Aneli Capital Launches €35M Fund for Baltic and CEE Startups
A team of experts with over 15 years of experience in funding businesses has launched Aneli Capital, a fund to support early-stage startups in the Baltics, Poland, and other Central and Eastern European (CEE) countries. The €35 million fund will primarily focus on Information and Communication Technology (ICT) as well as robotics, space, photonics, and energy startups, with the goal of helping them grow and become ready for follow-on investors.
While CEE startups are gradually becoming more visible in the international startup scene, they still face issues such as a lack of funding and difficulties in scaling compared to their Western counterparts.
Aneli Capital plans to help solve these challenges by offering efficient, quick decision-making and founder-friendly terms in addition to capital.
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Originally published on 10 Dec
Read MoreEstVCA Announces its New Management Board & Chairman of the Board for 2025-2027
The Estonian Private Equity and Venture Capital Association (EstVCA) members have elected a new 11-member board to steer the association for the next two years, until October 2027. Hendrik Reimand, Founding Partner at the venture capital fund 2C Ventures, has been elected as the new Chairman of the Board.
Madis Lehtmets, Managing Director of EstVCA, noted that the organization was fortunate to have such a strong and diverse pool of candidates in this year’s board elections, reflecting the willingness of both established and next-generation industry players to contribute and push the industry ahead as the Estonian private capital ecosystem is entering a pivotal period. He added: “With this new board, we have the experience, drive, and diverse perspectives to take bold steps, both locally and internationally, to strengthen our industry’s impact and reach. I look forward to working with them to support our members and build new partnerships across borders.”
The newly elected 11-member board reflects a broad blend of VC and PE professionals, key LPs, and legal-sector leaders: Dag Ainsoo (Startup Wise Guys), Ene Õunmaa (Swedbank Investment Funds), Hendrik Reimand (2C Ventures), Kärt Siilats (Superangel), Kristel Raidla-Talur (COBALT Legal), Maarja Pärs (Livonia Partners), Mari Kuhi (SmartCap), Margus Uudam (Karma Ventures), Mart Maasik (Nordic Science Investments), Rando Rannus (Siena Secondary Fund), and Sigrid Lii Treialt (LHV Asset Management).
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Originally published on 21 Nov
Read MoreNEW MEMBER: Nordic Science Investments joins EstVCA
We are excited to announce that Nordic Science Investments, an early-stage venture fund advancing research-empowered entrepreneurship across the New Nordics, has joined EstVCA as a new member!
Launched in February 2024, the fund has currently invested in 19 spinouts and startups, working at the crossroads of scientific disciplines and emerging technology, transforming frontier research into scalable, globally competitive companies.
Madis Lehtmets, Managing Director at EstVCA: “Nordic Science Investments is an excellent addition to the EstVCA community, enriching it with valuable knowledge and experience from the science-based innovation field. As EstVCA has become increasingly outward-looking, building relationships across Europe and beyond is more important than ever. Having a new member with a strong Nordic presence and partner-level connections adds significant value to our network.”
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Originally published on 27 Oct
Read MoreEXIT: Trind Ventures’ portfolio company Tise has been acquired by eBay
eBay, a global commerce leader that connects millions of buyers and sellers worldwide, has entered into a definitive agreement to acquire Trind Ventures’ portfolio company, Tise – a consumer-to-consumer (C2C) social marketplace headquartered in Oslo, Norway.
The acquisition will strengthen eBay’s global proposition in C2C, building on the significant momentum it has made in elevating the customer experience. Tise’s social-first, highly intuitive platform will open the door to a vibrant community of Gen Z and Millennial enthusiasts who continue to drive demand across categories.
Oliver Klinck, VP, GM Global Markets Success & C2C at eBay: “This acquisition is a natural next step in our investment in Tise, which will allow us to accelerate Tise’s strategy and unlock new opportunities for innovation. With Tise’s on-trend inventory, loyal community, and social-first approach, we’ll strengthen eBay’s C2C offerings and more deeply connect with the next generation of enthusiasts.”
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Originally published on 25 Sep
Read MoreFrom Stockholm to Riga, Outlast Fund launches €21M fund to back founders in it for the long game
Outlast Fund, a Baltic-Nordic VC fund, has closed its first fund at 21M EUR to invest in pre-seed and seed-stage startups from the region. The fund is based in Riga and Stockholm, and aims to be the first cheque in backing founders building solutions that are built to last, with initial pre-seed tickets of up to 250,000 EUR and 1.5M EUR seed rounds.
The fund goes against the grain in the investment environment, eschewing typical VC advice to prioritize quick exits. Rather, they look to scour the edges to uncover the most promising founders in the Baltics and Nordics, and are prepared to invest in them at the earliest stages to help them build enduring companies.
The fund is particularly keen to keep an eye out for serial entrepreneurs with a proven track record, ready to back them as early as the idea stage. Outlast Fund also invests in first-time founders who possess unique and specific insights within their chosen verticals. However, a trait that they look for in all cases is an obsessive drive to solve their customers’ most pressing problems. Regardless of whether the founders are better suited for building lean teams with the help of angels, microfunds, and syndicates, or if they are eyeing large rounds from the get-go, Outlast Fund is ready to support from the first cheque, rather than jumping in at the middle.
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Originally published on 18 Sep
Read MoreEstonian FinTech startup Cino raises €3.5M for its group payment app
Tallinn-based FinTech startup Cino has secured €3.5M in seed funding to expand its real-time shared payment application across Europe and launch in the UK market. Cino has developed a unique payment solution that allows groups to pay together in a single transaction. Unlike traditional bill-splitting apps that create debt and require follow-up payments, Cino charges everyone their share in real time at the point of checkout.
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Originally published on 13 Mar
Read MorePSF 2025: CBSS Opens Call for Project Proposals on Societal Resilience
The Council of the Baltic Sea States (CBSS) is inviting proposals for projects that will enhance societal resilience, safety, collaboration and trust within the Baltic Sea Region under its Project Support Facility (PSF) 2025 call. Applications will be accepted until 31 March 2025.
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Originally published on 17 Feb
Read MorePrototron spring round open for applicants – €75,000 to be distributed
Prototron Fund, Estonia’s first fund dedicated to financing prototype development, has launched a new competition aimed at finding companies eager to transform their ideas into practical solutions. A total of €75,000 will be distributed among the best applicants, with applications open until 28 February.
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Originally published on 12 Feb
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