Members of the Estonian Private Equity and Venture Capital Association (EstVCA) elected the association’s new Management Board, comprising 11 members who will continue to develop the organisation during the next two years (2021-2023). As a result of the elections, Margus Uudam (Karma Ventures) will continue as the Chairman of the Management Board. Other members of the board include Kristjan Kalda (BaltCap), Sille Pettai (SmartCap), Marek Kiisa (NordicNinja VC), Allan Gaidunko (LHV Asset Management), Kristel Raidla-Talur (COBALT), Veljo Otsason (Superangel), Antti Perli (Ellex Raidla), Hendrik Reimand (Livonia Partners), Rain Tamm (Siena Venture Partners) and Indrek Kasela (United Angels VC). The Managing Director of EstVCA is Kadri Lindpere.
EstVCA Chairman Margus Uudam
says that the work of the Management Board will focus on developing and harmonising the Nordic-Baltic region with an aim to be perceived regionally as one of the best ecosystems for establishing and developing start-up and scale-up companies. Uudam also says that the board will definitely keep R&D, innovation, impact investing and diversity as key focus areas. “As a digital nation, we have the possibilities to implement rapid and influential changes to make both Estonia and the entire Nordic-Baltic region more visible on the global level. We aspire to be a place where the regulative and tax environment supports the creation of research-intensive and innovative deep-tech companies, where we can be pioneers by consciously setting up diverse teams and where we are able to create a practical and easily comprehensible “language” that allows evaluating the impact and footprint of the activities in the industry,” Uudam explains. Kadri Lindpere
, EstVCA’s Managing Director, adds that several key projects that the Management Board has been working on for the past two years will be continued. “Firstly, I would like to point out our education program. In cooperation with TalTech and EBS universities, we will launch a special 8-week syllabus in spring that looks into the private equity and venture capital industry, and representatives of our member funds will provide in-depth insight into the field. Secondly, EstVCA wishes to support diversification of the local fund market by setting up funds of funds and the so-called feeder funds. Such funds would allow retail investors to make investments into private equity and venture capital funds, which has not been the option on the market so far. Setting up such funds is possible due to a regulative change that we prepared in good cooperation with the state. The first example of such funds was introduced by EfTEN when the latter launched its United Property Fund in June,” says Lindpere. The Estonian Private Equity and Venture Capital Association (EstVCA)
is the representative body of private equity and venture capital funds and their support organisatons in Estonia. As of 31.12.2020, the assets under management by EstVCA members reached 2.4 billion euros. EstVCA comprises 53 member organisations, the main members of which are Ambient Sound Investments, BaltCap, BPM Capital, Change Ventures, Eften Capital, European Investment Fund, European Bank for Reconstruction and Development, Iron Wolf Capital, Kaamos Grupp, Karma Ventures, KredEx, LHV Asset Management, Livonia Partners, Perot Jain, Siena Secondary Fund, SmartCap, Superangel, Swedbank Investment Funds, Tera Ventures, Trind Ventures, United Angels VC, United Partners, UP Invest and Wellman. www.estvca.ee