Process

Each investment typically goes through the following stages:

	Business plan including description of the business, industry, market and plans for future growth presented to BaltCap, first screening
	Talks with the management and/or shareholders of the company; review of the business plan/investment memorandum; evaluating the project against the Funds' investment criteria and competing projects
	Signing of letter of intent including the outline and main conditions of the deal and shareholders' agreement
	Legal, financial and environmental review of the company
	Deciding upon final terms; signing of agreements
	Active involvement in the company's welfare, involvement in strategic decisions, intensive communication with the company; Project monitoring/management support/assistance.
	BaltCap will sell its stake in the company. Among possible exit routes are sale to strategic buyer, financial investor or IPO.