The company's representatives indicated that the new fund will continue to follow the acquisition and development strategy of its predecessors - BaltCap Private Equity Fund I and BaltCap Private Equity Fund II - by investing in stable, innovative businesses to make them market leaders.
The new fund aims to set up eight to ten investment platforms in the Baltic and Nordic regions for enterprises worth between EUR 10 mln and EUR 50 mln, with the fund's capital investments planned in the range from EUR 10 mln to EUR 20 mln.
BaltCap senior partner Martin Kodar said that the fund will expand BaltCap's target market.
In addition to the Baltic states, the region on which BaltCap has been focusing so far, the fund will now also turn to Finnish and Swedish companies linked to the Baltics, as the New Nordics (Nordic and Baltic region) are making an increasingly close and integrated market, offering more extensive business opportunities, Kodar said, adding that BaltCap Private Equity Fund III intends to promote business activity in New Nordic countries.
The investors pledging financing to the new fund include the European Investment Fund (EIF), the European Bank of Reconstruction and Development (EBRD), the Nordic Environment Finance Corporation (NEFCO), LHV pension funds, SEB pension funds in Estonia, Latvia and Lithuania, eQ Asset Management and private equity funds.
