Grow with us!

Join the BaltCap team as a Summer Intern in our Tallinn, Riga, Vilnius or Warsaw office.

Internship at BaltCap

We are looking for team players with a can-do attitude and a deep interest in finance and private equity investing based in our Tallinn, Riga, Vilnius and Warsaw offices (we are looking for one position in each location).

You will have a chance to intern for the largest private equity firm in the Baltics and work side by side with BaltCap’s experienced investment team across different investment strategies – buyout, growth, infrastructure and VC.

This is a rare opportunity to grow with the BaltCap team and to develop the skills necessary for a successful career in private equity and investment banking.

As a Summer Intern, you will:

• work on real investment opportunities at various stages of the investment process
• work on a wide range of tasks: from opportunity screening to financial modelling, valuation, due diligence support and portfolio management
• be part of our international team
• base in one of our offices: Tallinn, Riga, Vilnius or Warsaw (we are looking for 4 positions, one in each location)
• earn a fair salary for your contribution

A suitable candidate is:

• self-driven and able to work independently
• nice and easy-going person to work with
• able to synthesize and reframe imperfect information to make hypothesis-driven conclusions and recommendations
• systematic and has a structured way of working
• student of Finance/Economics/Business, at least 2nd year with an exceptional academic record
• has excellent technical skills in finance, data analysis (MS Excel) and presentation (MS Powerpoint)
• fluent in English and Estonian/Latvian/Lithuanian/Polish or Ukrainian

Application

Apply for an 8-week paid internship and send your CV and cover letter to internship@baltcap.com by 15th March 2023.

The final selection is based on a case study and interview.

What an internship at BaltCap is really like?

If you’d like to take a peek into the world of private equity, read the experiences of our previous trainees.

Summer Interns 2023 | Gintvile Rutkute, Matīss Jānis Rekerts, Manfredas Feiferas, Maciej Mońko, Ingvar Paplavskis

Gintvile Rutkute

1. Can you share an example of a project or deal you worked on during your internship?

„Absolutely! One standout project during my internship involved an intricate financial model for market and financial analysis. This task, central to PE, not only challenged me creatively but also strengthened my problem-solving skills. What surprised me was the diversity of tasks within the PE realm, as I supported various portfolio companies throughout the internship.“

2. What skills did you develop or strengthen during the internship?

„Throughout my rewarding PE internship, I aimed to refine my analytical abilities through complex financial models and market trends. Strengthening problem-solving skills was a priority, and I achieved this by embracing real-time challenges. Collaborating with diverse teams honed communication and teamwork. I seized all learning opportunities and leveraged mentorship for growth.“

3. We believe teamwork defines the BaltCap team; is it true?

„At BaltCap, teamwork thrives! Working on financial model creation showcased this. Collaborating with analysts, we crafted models seamlessly, blending diverse expertise. A valuation project combined inputs from finance, strategy, and market analysis, shaping a robust model. Problem-solving sessions enriched by varied perspectives also stood out. BaltCap’s collaborative ethos fuels financial strategies.“

Matīss Jānis Rekerts

1. How do you think working in private equity differs from other areas of finance, and what aspects of the industry intrigue you the most?

„Private equity is one of the most diverse industries in finance both in terms of task variety and required skillset: one day, I needed to create a financial model and valuation of a Latvian IT company, and the next, I was researching the FMCG market in Europe. As a person with many interests and goals, I find this exciting as I can learn a lot about different markets, industries, business models and financial analysis methods in BaltCap. All this knowledge is highly transferable between different projects and industries.“

2. Can you share an example of a project or deal you have worked on during your internship?

„Another exciting aspect of private equity is that you can assist in the daily operations of portfolio companies: I was able to help a BaltCap portfolio company find new sales successfully leads through LinkedIn to validate a new product and to expand into new markets.“

3. How does a typical day in a private equity firm look like? What specific tasks have you been excited to take on as an intern?

„My internship generally consisted of 3 tasks: market research, financial modelling, and report creation. In a prospective deal, I would first perform a thorough market analysis to quantify the market size and potential growth channels for the market as a whole and the company. Then I would create a financial model to value the company. Afterwards, I would create a report or presentation for leadership to show my findings and to determine if we want to follow through with the transaction. All of this is done in close collaboration with my wonderful supervisors Juris, Sandra and Peteris, who gave invaluable guidance and support in every project.“

Manfredas Feiferas

1. What does working in private equity feel like? What aspects of the industry intrigue you the most?

„Having previously done an internship in VC, I truly realised that the main difference between VC and PE funds is the metrics by which the companies are being evaluated. I am mostly intrigued by getting a chance to work with several different companies that operate in distinct sectors; this allows me to gain a broader understanding not only of finance but also of how other industries operate.“

2. How does a typical day in a private equity firm look like? What tasks have you been excited to take on as an intern?

„A typical day in a private equity firm as an intern usually consists of a range of activities—taking part in team meets, catching up with colleagues on progress, and individually or with colleagues working on a task. My most interesting and exciting tasks were related to performing #marketresearch, as I could understand what a specific portfolio company does and get a whole overview of the industry.“

3. Teamwork is crucial in BaltCap; how does it work?

„From personal experience—my colleagues truly value working together to achieve the best results. Whenever I have a task to perform, we have multiple catching-up sessions, and I can always count on them to help me with any difficulty. The most recent example regarding collaboration was when my colleague and I were working on a slide set. This was real teamwork; when I lacked the information or needed to proofread some facts, my colleague jumped in immediately, and we delivered the task.“

Maciej Mońko

1. What skills did you hope to strengthen during your internship? Did you achieve those goals?

„I hoped to expand my financial knowledge and skillset by being part of real-life deals, creating financial models, etc., and I had a chance to do all of that. However, during my internship, I learned that in private equity, you need to constantly learn and improve your skills in many different areas, from data fishing to technical details of industries, not just strictly in finance. It is also a field where soft interpersonal skills are crucial.“

2. How does private equity differ from other areas of finance, and what aspects of the industry intrigue you the most?

„One thing that makes private equity different from any other field I have worked in is the fact that you have to be willing to constantly expand your knowledge every day, including topics that you might not expect, like technical details of various investments. To me, this makes it really stand out as an industry because it lets you expand your skills and knowledge in finance as well as outside of it.“

3. We at BaltCap believe we are team players; is it true?

„I was lucky to work with a really great team. From the start, everyone has been incredibly helpful. They made it easy to become part of the team and understand how the company functions. The entire team was really passionate about their work, and I learned a lot from them. Working with them has been a brilliant experience overall. They all did their best to guide me and introduce me to the industry.“

Ingvar Paplavskis

1. Which tasks did you enjoy the most during the internship?

„While I have greatly enjoyed all aspects of the internship, two specific types of tasks have really stood out to me:

Firstly, I have greatly enjoyed building financial models. Deals in PE often involve financing structures and other significant aspects unique to each individual investment, and consequently, building the models involves small and interesting challenges which require both creative and analytical thinking to solve.

Secondly, I have found writing the initial research reports for potential investments to be an especially eye-opening experience since writing the reports requires one to quickly develop a significant understanding of a new business and industry while obtaining a thorough understanding of a company’s competitive position, value creation, and strategic issues, among other things.“

2. Can you share an example of a memorable project you worked on?

„Perhaps my most memorable task was visiting a portfolio company by myself in order to locate and fix a bug in their ERP system. Admittedly, I could not solve the problem that day. Still, the experience illustrated just how deeply PE firms can be involved in managing and helping their portfolio companies and the importance of a “can-do” attitude when working in PE.“

3. What skills did you hope to develop? Did you achieve those goals?

„My primary goal for the internship was to acquire a first-hand understanding of how a PE fund manager operates, the unique challenges it faces, and the day-to-day life in a PE firm. After working on various tasks for both the investment team and the back office and having numerous insightful conversations with the partners and team members, I am happy to end my internship, gaining a new appreciation for the field.“

4. What aspects of the PE industry intrigue you the most?

„Although financial and analytical skills are still at the core of the field, working in PE requires an entrepreneurial mindset, commercial acumen, and creative strategic thinking. Meeting people at BaltCap who have developed strong capabilities in these fields was an inspiring experience.

I am thankful to Kristjan-Mart Piirsalu for the guidance and to the entire BaltCap team for the experience. Last but not least, I am especially glad to have experienced not only the “work hard”, but also the “play hard” side of the business along with the team.“

Summer Interns 2022 | Kerstin Ojavee, Emilija Paulauskaitė, Tatsiana Paulouskaya

Kerstin Ojavee

1. What are the main takeaways about the Private Equity world from your internship at BaltCap?

„It is the business of people – from the first day, I was engaged in active deals, which meant participation in numerous team discussions as well as meetings with the representatives of the companies. People skills matter.

In addition, analytical work always pays off – during the negotiations, experience and intuition play the most significant part, but the more analytical work you have done in advance, the better your position will be in talking yourself through.“

2. Have your university studies prepared you well for working as an intern?

„Technical skills matter – I was able to jump into the daily work of the investment team, as financial modelling and real-life application of business valuation models were not new to me. Thank you, Rīgas Ekonomikas augstskola – Stockholm School of Economics in Riga!“

3. How did you perceive BaltCap and its team as an internship environment?

„A company is all about its people – being a part of a close-knit and passionate team of BaltCap inspired me. They provided me with a challenging internship track but always had my back with guidance and feedback, creating an excellent professional and personal development environment.

Private equity people take time to connect and have fun – my internship ended with the Baltic VCA Summit, an annual gathering of the PE and VC industry professionals. The conference was excellent; the evening reception was even better.“

Emilija Paulauskaitė

1. What is your advice to a student: what are the main criteria for choosing an internship?

„It would be best to consider doing an internship when choosing how to spend your summer. An internship supplements your studies and helps to start your career journey. When choosing internship opportunities, think about the industry and specific jobs that interest you. Examine the internship description and what tasks you will be expected to handle. Have you had any experience with such tasks, and what skills would you gain from doing them? Consider how the internship experience might help shape your career’s early stage.

Remember also that, especially in the case of internships, a lot depends on the environment around you, including the supervisor. I was lucky with BaltCap – the team was really supportive and was keen to see us succeed.“

2. Name three key skills, tools, or new knowledge a successful internship should give a student.

„The essential skills in an internship are perhaps curiosity and willingness to learn. An intern may need help understanding some things or knowing how to do a particular task, but asking questions and working through the problem as best as possible is essential. It is okay not to understand some things as what we learn in university differs vastly from what happens in actual companies. That is what the internship experience is for.“

Tatsiana Paulouskaya

1. What tasks and challenges did you face during your internship?

„My tasks at BaltCap were quite varied. Different team members working on various strategies and industries pitched in to form my task list. I helped with financial modelling, desk research, and data visualisation contributed to ideation and brainstorming and progressed to making investment documents almost entirely independently. Interns were also trusted to contribute to the formulation of the fund’s ESG strategy. What I enjoyed, perhaps, the most was participating in investment strategy discussions with the BaltCap team: listening to investment professionals challenging each other’s ideas and recognise flaws in own thought processes was highly insightful.“

2. What are the main takeaways from your time at BaltCap?

„The most significant learning from my internship is the private equity know-how and the skill to examine the broader context through the finance industry lens. I had a chance to get acquainted with several heavy-duty industries, which required reading up on many technicalities—again, such a challenge kept me entertained. My mentors at the Riga office are fantastic people—and I am beyond grateful to them for involving me in many processes, explaining the details, and being kind and supportive overall.
This was not a shot in the dark: I applied to BaltCap, conscious that this is what I want to do.“

3. What do you recommend to students choosing an internship?

„I believe that there is no hard-and-fast way to choose a great internship—my advice would be to screen many opportunities carefully, talk to many people and try getting exposure to different tasks at university or independently—then you’ll slowly understand how to match what is offered in the job market with what you would enjoy doing.“

Summer Interns 2021 | Kristers Nolle, Toomas Sulling, Dovydas Vaičaitis

Kristers Nolle

Why did you choose BaltCap? Why private equity?

„To begin with, I would like to start with the fact that Private Equity is, to some extent, quite an exclusive financial sector. This is the case especially at a young age when still studying. Therefore, I believe that joining BaltCap in a Summer Internship is definitely an unparalleled opportunity to get real hands-on experience in PE at such an early stage of one’s career.“

What did you learn during the internship?

„During my two consecutive summer internships at BaltCap, I had the chance to test my academic knowledge and practice the concepts and theories learnt in university. I was most excited about further developing my financial modelling skills and working on various alternative energy projects in the biogas industry for the BaltCap Infrastructure fund.“

Who would you recommend for an internship at a private equity?

„The whole point of internships is to test whether the field that you are considering is the right fit for your career path. Hence, I advise trying out different options. For anyone out there looking for a truly engaging and meaningful internship with a lot of insight and responsibility, I would recommend applying. Joining BaltCap in its summer internship two years in a row is not just a coincidence.“

Toomas Sulling

Why did you choose BaltCap for the internship?

„I applied to do an internship in private equity as I was curious about private market investing. When searching for PE funds with offices in Tallinn, BaltCap clearly stood out as the leader in the Baltic region. I figured it takes a team of intelligent and highly determined people to deliver those kinds of results and was excited by the prospect of learning from them.“

What skills did you further develop during the internship? What did the internship at BaltCap teach you about yourself and about the BaltCap team?

„The internship at BaltCap was definitely one of my most educating experiences yet. I further developed skills in financial modelling, Excel, analytical thinking, and communication. This is what makes an internship so great – learning practical skills. Additionally, I found that I enjoy the day-to-day work in a private equity firm as it is team-oriented and intellectually challenging. I was truly inspired by my colleagues at BaltCap, everyone is a team player and fully committed to their work.“

What do you think are the 3 primary skills, knowledge, or tools that a successful internship should give to a student?

„Connections in the industry. The skill of working independently. Knowledge about how the firm functions and the sector it operates in.“

Dovydas Vaičaitis

Why did you choose BaltCap for the internship?

“Since I was always interested in alternative markets, I wanted to learn more about Private Equity from the inside, different investment strategies used, how investment decisions are made in private markets and gain practical experience in this field. Therefore, BaltCap, the largest and one of the most successful private equity firms in the Baltics, was a natural choice since I believe that you can always learn the most if you are working with the best and brightest people in their field. Also, past BaltCap interns’ recommendations helped me to make a choice.“

What are the three biggest lessons you learned during the internship at BaltCap?

“Personally, I have learned quite a lot at BaltCap, and it is hard to choose the top 3 lessons. First of all, it is always important to understand the company’s business model in which you want to invest. It is important to figure out if it is a winning model or it can be adjusted to become one. Furthermore, if something is unclear, ask questions to understand things better. Lastly, sometimes it is better to buy the company for a bit more than you are willing to than not acquiring it since later on, in hindsight, it can seem like a “cheap” investment.“

What skills did you further develop during the internship? What did the internship at BaltCap teach you about yourself and BaltCap team?

“The internship at BaltCap has helped me learn more about how to do financial analysis and company valuations in the private markets, market research, and evaluate good business opportunities. Furthermore, I have also improved my soft skills such as analytical thinking, problem-solving, etc. At the end of the internship, I realized that I enjoy evaluating if businesses would be a good investment, especially at a fundamental level and solving strategic challenges of various portfolio companies. In addition, I can only say good words about the BaltCap team, who has welcomed me with open arms, created space for my personal development and with whom it was always interesting to talk and discuss various things. They were indeed more than just my colleagues. “

What advice would you give to a student who is just choosing an internship: what to consider, and what are the main criteria for choosing an internship?

“Recently, I was in your shoes for deciding in which field and company I wanted to do an internship. It is essential to understand what you are passionate about and where you would like to see yourself working in the future. Also, do not forget that not only the company is choosing you, but you are also choosing them. If you make it to the interview stage, do not be afraid to ask questions to figure out what you would be able to learn and if you would fit there socially. “