BaltCap
Private equityTallinn · Series B–Growth · 20 people tracked
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 · 20 people
from the firm's website
What they invest in
from 4 of 116 portfolio companiesCybersecurity ×2Mobility & Transportation ×2SaaS ×2Climate Tech ×1Consumer ×1Enterprise Software ×1Fintech ×1GovTech ×1
HQs:Estonia×1Lithuania×1
Investments · 116 tracked
founders shown can be your intro pathLeading car dealer in Latvia operating three Opel dealerships, founded 1997.
Will operate a social care chain in Latvia.
Formed in 2008 as a spin-off from the Latvian office of Robertson & Blums Corporation.
Largest integrated general book publisher and retailer in Lithuania.
Subcontracting company manufacturing metal accessories, established 2002.
Owns a portfolio of biogas plants in Latvia with 4.9MW combined capacity.
Estonian company established in 1992.
Classified portal in Estonia for cars, motorbikes, boats and heavy equipment.
Provides data interchange solutions for insurance and healthcare companies.
Leading commercial property management company in the Baltic States and Poland.
Enterprise document database unifying structured and unstructured data management.
Leading coffee company specializing in office and on-the-go coffee in the Baltics.
Largest chain of branded coffee shops in the Baltics.
Leading Baltic office supplies logistics company, founded 1999.
Logistics and freight forwarding solutions provider delivering customer-centric services globally.
Largest DIY retailer in Latvia.
Leading waste management company in Lithuania.
Transatlantic CRO focused on advancing biotech drug development.
One of the largest garden furniture producers in Latvia, founded 1992.
Leading provider of waste management and municipal services in Estonia.
Owns and operates over 120km of gas pipelines around Tallinn and other Estonian cities.
Operates a biomass-fired combined heat and power plant in Riga region.
Pan-European company established by strategic founders including LC-TEC Display.
Local search and advertising company active across several European countries.
Provides Fitekin and ONEA software platforms for invoice management automation and digitisation.
Developed a 48MW heat-only boiler for the Vilnius district heating system.
Modern private nursery hospital and rehabilitation service provider.
Leading manufacturer of electronic systems and components in Northern Europe.
Latvia-based manufacturer and exporter of IGLU-branded kids' soft play blocks.
Largest fitness club chain operator in the Baltics with 28 clubs.
Operator of primary care and specialised clinics in Lithuania.
Offers professional users in Estonia, Latvia, Lithuania, Poland and Belarus.
Largest and fastest growing ICT training group.
Portfolio company aimed at upgrading public infrastructure in Polish cities.
Largest transport infrastructure engineering company in Lithuania.
Network of convenience stores and fuel stations in Latvia.
Company managing the eKool education platform, established 2002.
One of the largest food sector companies in Lithuania.
Leading provider of laboratory supplies in the Baltics.
Volumetric 3D monitor developer and supplier for medical, security and other industries.
Exits · 1
IPOs and acquisitions across the tracked portfolioTrafiacq. by Enghouse Systems
Frequently asked questions
- What stage does BaltCap invest at?
- BaltCap invests at the Series B, Series C, Growth stages.
- 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.
Media · Podcasts & interviews
featuring the teamVastutustundliku ettevõtluse põhimõtted strateegias - BaltCap (Martin Kõdar)
Vastutustundliku Ettevõtluse Foorum · Martin Kõdar
Images
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