According to a recent article in Bloomberg, there’s a new investor in town in the Baltics. Newly announced Livonia Partners is still being registered (they still don’t seem to have a website), but says it already has significant commitments for its €85 million fund. The firm plans to invest in eight to 12 companies in the next five years, starting as soon as the first half of 2014.
The investment company partly owned by LHV Bank, and much of the team is coming from LHV Capital. Looking at their past investments, which include event ticket distribution, physical and digital records storage, and medical services, this won’t transfer its full €85 million directly into the types of sexy digital companies we like to cover. Despite that, more funds and competition over companies is a development the region could use.
To put this fund size in perspective, BaltCap is currently fundraising for a new €100 million fund, which it may see competition for private investors now. Currently Livonia Partners will see contributions up to €20 million from the EIF, and some contribution from the Baltic Innovation Fund. The majority of the remainder will likely come from pension funds across the Nordics and Baltics.
As we wrote in our past article, the Complete Baltic Investment & VC Market Overview, the Baltic region is developing. From my gut feeling assessment, once more money starts pouring into the region, we’re going to see more winners.
Latvian coins image by shutterstock.