The Baltic venture capital market will be united under a single flag
Agreement for the establishment of Pan-Baltic VCA was signed on the 25th of August at Baltic VCA Summit in Pärnu. From the left: Kalmer Kikas, Chairman of the Board of ESTVCA, Janis Janevics, Member of the Board of LVCA and Dovydas Varkulevicius, Chairman of the Board of LT VCA.
Pan-Baltic Private Equity and Venture Capital Association (Pan-Baltic VCA) was established at the Baltic VC Summit 2016 in Pärnu last Thursday with the aim to develop an attractive and viable regional ecosystem for the fund managers and investors.
The teams of the Estonian, Latvian and Lithuanian private equity and risk capital associations will support the work of the Baltic Private Equity and Venture Capital Association. The Chairman of the Board of the Estonian Private Equity and Venture Capital Association, Kalmer Kikas, said that establishment of the umbrella organisation enables to share obligations, unify cooperation, and market the area as a whole.
Unique modelThe Baltic Private Equity and Venture Capital Association is a unique form of cooperation since there are no such cross-region venture capital organisations in other parts of Europe. "The Baltic Innovation Fund is an example of successful cross-border cooperation. We need to further increase cooperation and bring small markets under one umbrella as otherwise the bigger countries have competitive advantage at involvement of private equity and venture capital," he said.
Kikas told that for the Baltic States, it is not reasonable to communicate with institutional investors outside the Baltic States, the business angels as well as venture capital companies separately and vice versa. "The central marketing and management of relationships is reasonable from the point of view of all three states and all parties," he said.
Simplified cooperationThe umbrella organisation also helps to concentrate the organisation of events and forums. "Investors would rather participate in an event where they can get an overview of all the Baltic States and not only Estonia. The Baltic Private Equity and Venture Capital Association will also collect, systematise, analyse and publish the sectoral data," said Kikas.
He also trusts that establishment of the umbrella organisation helps to coordinate cooperation regarding the development of lawmaking and regulations in the area of venture capital.
Learn more:Kalmer Kikas
Chairman of the Board of the Estonian Private Equity and Venture Capital Association
+372 501 9745
Managing Director of the Estonian Private Equity and Venture Capital Association
+372 5750 2049