BaltCap August Newsletter
31 August 2022
Dear partners,
I hope the summer has offered you the possibility to take time off and fill yourself with positive energy. Unfortunately, the deepening energy crisis and geopolitical turmoil keep us alert, but this is exactly why we need to consciously take time for good vibes ourselves. 

We at BaltCap decided to do something new and different this summer. In August two BaltCap teams completed the ultimate triathlon – Ironman! I and other BaltCap investment team members, our portfolio company managers, and alumni joined forces at the Ironman 70.3 relay competition, which included 1.9 km of swimming, 90 km of cycling, and 21.1 km of running. 

The race day was full of great emotions, relentless effort, and team building. Crossing the finish line with the team was rewarding. I am thankful to the team members who competed and to all the supporters who joined us by cheering during the day. 

Enjoy the last weeks of summer!

Peeter Saks

Deal and Portfolio News
BaltCap sells Vendon to international technology group Azkoyen
Vendon, the leading company in connectivity and IoT solutions in digital payment and telemetry in Central Europe, was sold to Azkoyen Group. This acquisition strengthens Azkoyen’s international growth by boosting the group’s segment of payment systems & platforms and IoT solutions.  Read more
BaltCap-backed Tradehouse expands by acquiring Scandinavian Brands
The acquisition of the official importer of Finnish, Swedish, and Norwegian quality cosmetics brands further strengthens the leader position of Tradehouse Pretty Curious as a retailer and wholesaler of beauty products in Estonia.  Read more
BaltCap portfolio company FCR Media strengthens its position in the Dutch market
Youvia, part of FCR Media Group, acquired the website portfolio of Varias and takes over the 950+ website clients as well as Varias’ related web platforms. The deal strongly contributes to FCR Media Group’s growth outlook in the Dutch market.   Read more 
BaltCap-backed Verkter opened a new warehouse in Kaunas
Verkter, the e-commerce group selling a wide range of professional work tools and accessories in Europe, moved its warehouse to Kaunas. The new 1000+ m2 warehouse also accommodates the company’s HQ and a brand-new showroom.  Read more
Piletilevi Group launched a refreshed brand and ticketing platform
BaltCap buyout portfolio company Piletilevi, the largest ticketing platform in the Baltics, now carries the slogan, “Make life an experience”. The refreshed brand and digital ticketing platform aim to simplify the client journey across all three Baltic countries served by the company.
 Read more (in Estonian) 
BaltCap Infrastructure Fund PPP project recognized as “The Leader of Energy Transformation”
The project aimed at deep energy modernization of the municipal buildings in Mielno, Poland, was awarded by Forum Liderów PPP. After the first year of operation, reduction of energy consumption in Mielno's municipal buildings was achieved and further steps are being taken to continue our commitment.  Read more 
Matiss Paegle on the twists and turns of ESG and avoiding greenwashing at the Conversation Festival LAMPA 
The roundtable discussion, in which BaltCap’s Investment Director took part, focused on how sustainable purchases affect the activities of companies and the environment in which we live, as well as how compliance with ESG standards can help attract investments and grow the company.   Read more about LAMPA
BaltCap’s Environmental, Social and Governance Report 2021 
Take a look at the BaltCap 2021 ESG report and find out how our companies have been moving towards ESG-focused management – setting company-wide ESG focus topics and measuring CO2 footprint.  Read more
Team News
BaltCap welcomes two new team members
Darja Bolšakova joins the BaltCap team as Finance Director and she will be responsible for the administration and financial reporting of BaltCap Funds and financial matters related to the BaltCap group. Darja brings extensive experience in financial management and investment monitoring from international group companies. She previously worked in Skinest Group and a family office. Darja holds a master’s degree in Economics and Business from the University of Tartu.
Helen Vainola joins the BaltCap Tallinn team as a reporting specialist. She will be responsible for the smooth delivery of various reports to our main stakeholders. With an auditing background from PwC Estonia, Helen brings experience in financial reporting and project management. Helen holds a bachelor’s degree in Business Administration from Tallinn University of Technology.
Baltic VCA summit in Riga
On 25-26 August, the traditional  Baltic VCA Summit took place in Riga. The main theme, “Cruising Through Rough Waters”, brought together almost 200 industry professionals to discuss how to support and build businesses and our region during these uncertain times.
Matiss Paegle, Investment Director at BaltCap gave a presentation “Tapping the Mounting Infrastructure Funding Gap“ and addressed the potential of contributing to the sustainability of the Baltic region through infrastructure investments.  

 Take a look at the event gallery
BaltCap teams completed Ironman triathlon
In August, two BaltCap teams completed the ultimate triathlon, Ironman, relay competition in Tallinn. Meet our Iron(wo)men:

BaltCap team I
1.9 km swimming, Peeter Saks, Managing Partner at BaltCap
90 km cycling, Kristjan-Mart Piirsalu, Investment Associate at BaltCap
21.1 km running, Laura Kuldkepp, CEO at Tradehouse Pretty Curious
BaltCap team II
1.9 km swimming, Andrei Haritonov, BaltCap alumnus
90 km cycling, Rainer Sternfeld, Managing Partner at NordicNinja VC
21.1 km running, René Bernard, Chief Architect at Ridango

  Have a look at the Ironman gallery
BaltCap in Numbers
25+ years
track record

investment strategies

platform investments

investment professionals

6 countries
with branch offices
capital raised to date


Contact us

BaltCap offices
Estonia Skyon, Maakri 30, 24th floor / Tallinn 10145 / Phone: +372 665 0280 
Finland Maria 01, Lapinlahdenkatu 16 / Helsinki 00101 / Phone: +358 504913001 
Latvia Jaunmoku 34 / Riga LV-1046 / Phone: +371 6721 4225 Lithuania J. Jasinskio 16b / Vilnius LT-03163 / Phone: +370 5 254 6713 Poland WeWork / Krucza 50 / Warsaw 00-025 
Sweden Epicenter Mäster Samuelsgatan 36 / Stockholm 11157 / Phone: +46 8 459 30 60


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