BalticVC

Latvian opportunity capital fund FlyCap   plans to raise €41.3M to invest in growth companies. €24.8M will come from the European Regional Development Fund (ERDF) and the state development finance institution ALTUM, and €16.5M will be raised from private investors who invest in the companies over five years. FlyCap will start investing when it receives 50% of the required funding from private investors.

A new Estonian fund Sunly Future Ventures (SFV), established by Erki Ani (co-founder of Estonian cleantech accelerator Beamline) and Rasmus Udde will back pre-seed cleantech startups. SFV is a green tech investment fund with an initial ticket of €500K per startup and follow-on investments - up to €3M. 

Latvian LongeVC is planning to raise a $250M fund to invest in Asian longevity and biotech startups. LongeVC also intends to raise investments for LongeVC's sister fund, Ani VC, which will focus on animal longevity and pet health.

Estonia will create a €50M defense industry fund, aimed to invest directly and through private funds in companies developing defense-related or dual-use technologies. If the fund proves successful, its size can be increased. The defense industry fund will be launched this year.

A new Estonian fund 2С Ventures will invest in early-stage cleantech startups from pre-seed to series A. The focus is on new technologies in renewable energy, waste reduction, water management, circular economy, etc. In addition, the fund will prefer to select companies that have hardware component. 

Plural , founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, raised a new €400M fund from the US and European institutions and family funds. Plural will continue to back European early-stage startups and invest in AI, frontier, consumer, climate, and energy-focused tech companies. 

Estonian venture capital firm Yolo Investments launches a €100M Yolo Fund II L.P for investing in online gaming, blockchain, fintech, and renewable energies. The company will continue back to startups from around the world of A+ stages. In total, Yolo Investments plans to invest in 20-30 ventures. Considering the fund's size and investment amount, the average ticket per startup will range from €3M to €5M.

Estonian Siena Secondary Fund plans to hold the first close of its new fund in late 2023 or early 2024. The fund targets to raise €30M- €50M. According to the general partner Lauri Isotamm, the investment firm intends to secure the maximum amount by the first close.

New Lithuanian Gamedev Fund will support game developers across European countries. The fund will invest in premium indie games for PC/consoles with a playable demo on hand. 

Lithuanian ed-tech Bbright  raised €200K from Lithuanian fund Jaunaragiai, which invested €40K, Lithuanian non-profit Marius Jakulis Jason Foundation (MJJ Fund), business angels Martynas Kandzeras, Vladas Lašas, and Algirdas Stonys.

Estonian venture capital fund Change Ventures launches €20M Fund III to double down on pre-seed investing in startups founded by Baltic entrepreneurs. The initial ticket size will be between €100K to €500K. Half of the fund will be used for follow-on investments. 

New Latvian-based venture fund Merito Partners invested in the Latvian developer of self-service solutions Tapbox . The amount of investment is undisclosed. Merito Partners has become a minority shareholder in TapBox.

Lithuanian Practica Capital raised €32M from Lithuanian Swedbank lizingas, UAB, and Estonian Swedbank Investeerimisfondid AS for its new fund Practica Venture Capital III. The Fund will focus on the Baltic companies.