Baltic small- and medium-sized companies are the focus of a new E14 million venture capital fund launched by Baltcap Management. The Baltic SME fund will target growth sectors such as IT and communications, distribution and logistics, consumer products, manufacturing and infrastructure. The fund will acquire minority stakes of between E300,000 and E1 million. Target companies will have a maximum turnover of E40 million, maximum assets of E27 million and no more than 250 employees.
Investors in the fund include the European Bank for Reconstruction & Development (EBRD), the European Investment Fund, SME Finance Facility Special Fund and Baltic Investment Fund III.
This is the fourth SME fund managed by Baltcap Management, which now has four funds in the Baltics, with a total capital of E91 million and E58 million available for investment. These include the GIMV Czech & Slovak SME Fund, Euroventures Danube SME Fund, and
the first Hungarian SME Fund.