The Estonian Private Equity and Venture Capital Association (EstVCA) Announced a New Board

06 December 2023
Top line from left: Margus Uudam, Kaari Kink, Kristjan Kalda, Maarja Pärs; Middle line from left: Dag Ainsoo, Sille Pettai, Rain Tamm, Sigrid Lii Treialt; Bottom line from left: Kristel Raidla-Talur, Hendrik Reimand, Dmitri Ševoldajev

Kaari Kink, the Head of Investments at the venture capital fund Superangel, has been elected as the new Chairman of the board of the Estonian Private Equity and Venture Capital Association (EstVCA). The new board will continue to develop the organisation and PE/VC market for the period of 2023-2025. Kadri Lindpere will continue as the Managing Director of EstVCA.

The newly elected Chairman of the EstVCA board, Kaari Kink, stated that the impact of private equity and venture capital on innovation and sustainable business development in Estonia is extremely important. "I am honored to join such a distinguished and experienced board in contributing to the ambitious growth of our ecosystem. In the coming years, we will certainly continue to promote international cooperation with the Nordic and Baltic countries and the rest of Europe, focusing on important future topics, such as sustainable and responsible investing," said Kink.

EstVCA members have elected a new 11-member board for the next two years. The board members include chairman Kaari Kink (Superangel), Margus Uudam (Karma Ventures), Kristjan Kalda (BaltCap), Sille Pettai (SmartCap), Kristel Raidla-Talur (COBALT), Hendrik Reimand (2C Ventures), Rain Tamm (Siena Secondary Fund), Dag Ainsoo (Startup Wise Guys), Dmitri Ševoldajev (KPMG Baltics), Maarja Pärs (Livonia Partners) and Sigrid Lii Treialt (LHV Asset Management).

Margus Uudam, who has led the EstVCA board for the past four years, did not run for the position of Chairman. Uudam said that he supports the new EstVCA leader in the role of a board member. "Kaari has everything needed to successfully continue what has been done and achieved so far, supported by her significant experience in the investment field and early-stage investing, where many local funds have moved," said Uudam. He added that the Estonian private equity and venture capital market is strong today. "Capital availability has improved at all stages of development for startups in recent years, and foreign investors' interest in our region has grown—they have actively invested in our funds and companies. Funds have helped develop and bring very strong companies to new markets, but we must continue to work persistently to ensure investment stability even in a more challenging economic cycle," Uudam added.

The EstVCA board will continue to develop cooperation in the Nordic and Baltic region and promote the marketing of a common "New Nordic" region to global private equity and venture capital investors. The goal is to enhance the competitiveness of our region alongside major markets, especially the USA and Asia. The aim is to establish the region as a stable market, fostering confidence among international investors.

Kadri Lindpere will continue as the Managing Director of EstVCA. Lindpere stated that the total assets managed by EstVCA members were over 3 billion euros as of the end of last year, and several foreign funds have joined the association, intending to actively invest in the local market. "The turbulent global economic situation has also brought challenges to our sector, but EstVCA's goal is to ensure the continued development of our regional funds market. We focus on cooperation with other countries, ensuring a transparent legal environment, and continuing education programs in collaboration with universities," said Lindpere.

A new legal-regulatory working group comprising industry experts will also commence its operations under the auspices of the revamped EstVCA board. Its members are Kristel Raidla-Talur (COBALT), Antti Perli (Ellex Raidla), Karola Sisask (Miti Solutions), Rolan Jankelevitsh (WALLESS) and Maido Lillemets (BaltCap).

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