Fundraising FoxBaltCap
Private equityTallinn · Growth · 23 people tracked
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Investment thesis
BaltCap invests in the Baltic states and Poland across several strategies. Its buyout fund backs local market leaders with a buy-and-build objective aimed at creating internationally recognised business champions. Its growth fund targets fast-growing companies with proven, profitable business models. The firm also runs an infrastructure/climate strategy that provides development capital for transport, energy and education infrastructure projects in the Baltics and Poland, targeting investments that help mitigate climate risks. BaltCap positions itself as a practical, ethical partner with deep local market knowledge.
Source: firm website, verified Aug 3, 2026.
Team · 23 people
from the firm's website & curated
What they invest in
from 14 of 115 portfolio companiesAdvanced Manufacturing ×3Consumer ×3Hardware ×3Logistics & Supply Chain ×3Mobility & Transportation ×3SaaS ×3Climate Tech ×2Cybersecurity ×2
HQs:Estonia×8Latvia×2Belgium×1Lithuania×1Sweden×1
Investments · 115 tracked
founders shown can be your intro path
Hansab is a provider of automation and digital infrastructure solutions serving businesses and public institutions across the Baltics and Finland.
Cloud ComputingCybersecurityEnterprise SoftwareIoTRetail TechTallinn, EE
Co-investorsMidinvest Management Oy
Coffee Address is a coffee company participating in a sustainability data management pilot program to develop reporting capabilities for environmental impact disclosure.
Climate TechConsumerFoodTech
AS Ecometal is a circular-economy company that recycles used lead-acid batteries end-to-end, recovering secondary raw material for new production.
Circular EconomyCleantechNew Materials
HansaMatrix provides electronics manufacturing services (EMS) for companies in transportation, telecommunications, energy management, IoT, medical, and defence sectors across Northern Europe.
Advanced ManufacturingDefense TechHardwareIoTMarupe, LV
Co-investorsZGI-4
INTRAC Group provides products and services, with a stated focus on meeting agreed terms and customer needs.
Advanced ManufacturingAgTechConstruction TechHardwareLogistics & Supply ChainSector AgnosticTallinn, EE
Magnetic MRO provides aircraft maintenance, repair, and overhaul services including heavy maintenance, painting, engine repair, and component services for airlines and asset owners.
Advanced ManufacturingLogistics & Supply ChainMobility & TransportationTallinn, EE
Marko Männiste(Managing Director of Magnetic MRO)in
NeoQi manufactures spa and wellness equipment including saunas, hydrotherapy systems, and massage devices for use in spas, hotels, medical institutions, and homes.
HardwareHealthtechWellness & FitnessSaku, EE
Nord Security provides online privacy and security solutions on a global scale, helping to address cybercrime and data protection issues for people worldwide.
ConsumerCybersecurity
Eimantas Sabaliauskas(Founder)Tom Okman(Founder)Tomas Okmanas(Founder)
Co-investorsBurda Principal InvestmentsZinal Growth PartnersGeneral CatalystNovatorWarburg Pincus
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Ridango develops an account-based ticketing and fare management platform for public transport authorities and operators, enabling centralized customer management, fare configuration, and multi-channel sales.
FintechGovTechLogistics & Supply ChainMobility & TransportationSaaSStockholm, SE
Co-investorsBregal Milestone
A commercial laundry service that washes, irons, and delivers linens door-to-door for hotels, apartments, restaurants, cafés, salons, and spas, as well as private clients.
ConsumerTallinn, EE
Trafi develops a Mobility-as-a-Service (MaaS) platform that provides multi-modal journey planning and ticketing for cities across Europe.
Climate TechGovTechMobility & TransportationSaaS
AlgimantasJurgisMantasMartynas
Co-investorsEBRD Venture Capital Investment ProgrammeOctopus VenturesPresidio Venturesoctopus investmentsPractica Capital
Viru Elektrivõrgud is an electricity distribution utility operating grid services in northeastern Estonia (Narva, Narva-Jõesuu, and Sillamäe) and selling electricity to residential and business customers regardless of region.
EnergyNarva, EE
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
A Le Coq As BreweryAdam Auto SIAAdoroAGroupAlma LitteraAlma Littera GroupAMATEKSAnaerobic HoldingAS Vipexauto24Blue Bridge Technologies SIABPT Real EstateClusterpointCoffee InnDaily Service (OfficeDay)Daily Service UabDelamodeDelamode GroupDepo DIYDepo Diy SiaDr VetDt Mobile SiaEcoserviceEGeenEgeen International CorpEKJU Ltd.EKTEnergateEnergate OuEnergia VerdeEurakrasEUROLCDSFitekForest InvestmentGemmaHanzas Electronika SiaIGLU HoldingsImpulsImpuls LtuInMedicaIt Koolituskeskuse OuIT Protraining GroupIZIMJlm Group SiaKaunas District Schools PppKelprojektasKoolKoolitööde ASKoolitoode As E SchoolKrajamaKrekenavos AgrofirmaLabochemaLightSpace TechnologiesLightspace Technologies SiaLithuania National StadiumLIVINMedicap Holding / QuattromedMicrolink AsNational Stadium Of LithuaniaNutritech Baltics OuOobeliskPaper mill LigatnePapirfabrika Ligatne SiaPiletilevi GroupPostService GroupPrimekssPure ChocolatePv PowerQuattromed Hti LaboridQueen MortaQvalitasRahva RaamatRunwayRunway GroupSIA PV PowerStandardSTENDERSTeede REV-2The British School of VilniusTradehouseTREV-2 Grupp PlcTuuleenergiaUnimedUnimed GruppUprentVendonVerkterVerkter GroupVet VenturesVipex AsViru ElektrivorgudViru HaiglaVLTVlt SiaVoira UabWeekendYgleYPlanYPVZetcom SiaZvirgzdaiciu Energija
Exits · 1
1 acquisitionsTrafiacq. by Enghouse Systems
Frequently asked questions
- How many investments has BaltCap made?
- BaltCap has 115 tracked investments, 1 of which have exited.
- What stage does BaltCap invest at?
- BaltCap invests at the Growth stage.
- What is BaltCap's typical check size?
- BaltCap typically writes checks of $5.4M – $21.6M.
- What sectors does BaltCap focus on?
- BaltCap focuses on Advanced Manufacturing, Cleantech, Climate Tech, Construction Tech, Consumer, Data & Infrastructure, EdTech, Energy, Fintech, Healthtech, Logistics & Supply Chain, Mobility & Transportation, PropTech, Retail Tech, Sector Agnostic.
- Where is BaltCap located?
- BaltCap is headquartered in Tallinn, EE.
- Who does BaltCap co-invest with?
- BaltCap most often shares deals with Burda Principal Investments, EBRD Venture Capital Investment Programme, Midinvest Management Oy, among 8 tracked co-investors.
Media · Podcasts & interviews
featuring the teamVastutustundliku ettevõtluse põhimõtted strateegias - BaltCap (Martin Kõdar)
Vastutustundliku Ettevõtluse Foorum · Martin Kõdar
Images
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