Investors in Latvia

AS BaltCap is a private equity and venture capital firm specializing in investments in early venture, startups, mid venture, late venture, later stage expansion, lower-mid market, expansion capital, development stages, add-on investments, pre- IPO stages, buyouts and buy-ins, growth capital, industry consolidations, and restructurings. It does not participate in hostile takeovers nor provide debt financing and loans. The firm does not invest in gambling, manufacture of tobacco, arms manufacturing, hard liquor manufacturing (breweries acceptable), financial services, real estate, insurance, human cloning and genetically modified organisms, or any environmentally hazardous business. It has a generalist sector approach and focuses its investments in business-to-business services, manufacturing, healthcare, information and communication technology, energy and specialty retail, transportation infrastructure, distribution and logistics sectors. It seeks to invest in small and medium sized enterprises (SMEs) and businesses that want to launch new products and services. It prefers to invest in Baltic States with a focus on Estonia, Latvia, and Lithuania. The firm typically invests between EUR0.5 million ($0.57 million) and €3 million ($3.95 million) for buy-outs investments. The private equity strategy funds invest in transactions with enterprise value typically between €5 million ($5.65 million) and €40 million ($45.16 million) and maximum assets of €27 million ($23.92 million). The Jeremie funds focus on providing financing between €0.3 million ($0.42 million) and €3 million ($4.22 million). The firm invests between €0.3 million ($0.26 million) and €10 million ($13.45 million) in companies with maximum revenue of €40 million ($35.44 million). It primarily invests in equity or equity related instruments like convertibles, preferred shares, bonds with warrants and becomes a shareholder in its portfolio companies. The firm prefers to hold a seat in a council or a supervisory board of the portfolio company, shareholders’ agreement, and acquires majority or blocking significant minority positions with controlling rights. It also seeks to co-invest. It exits its investments between three years and five years through strategic trade sale, sale to a strategic buyer, financial investor, sale to other co-owners, or IPO. AS BaltCap was founded in 1995 and is based in Tallinn, Estonia with additional offices at Rigas, Latvia and Vilnius, Lithuania.

Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies.

European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union. The company offers project loans for the public and private sectors; loans to banks and other intermediaries; structured finance products; guarantees and securitization instruments for senior and subordinated debts; project bonds; equity and fund investment products such as infrastructure equity and debt funds, and environmental funds; and venture capital funds and security packages for funds. The company also offers microfinance; risk sharing finance for research, development, and innovation projects; finance and technical expertise for sustainable energy projects; infrastructure project advisory services; support for urban development projects; guarantees for transport infrastructure; and funding for public-private partnerships and small- and medium-sized enterprises. EIB serves the transportation, global loans, energy, industry, health, education, water, sewerage, infrastructure, services, telecommunications, agriculture, and fisheries sectors. European Investment Bank was founded in 1958 and is based in Luxembourg.

As a venture capital company, HBM BioVentures is invested globally in some 40 mature emerging companies in the biotechnology/human medicine, diagnostics and medical technology sectors. The primary products of HBM BioVentures' portfolio companies are either at an advanced stage of development or already available on the market. The company focuses on unquoted emerging companies, with two-thirds are invested in private companies that offer high value creation potential. This has enabled HBM BioVentures to carve out a unique and distinctive market position. HBM BioVentures has a broad shareholder base and is listed on the SIX Swiss Exchange (ticker: HBMN).

ZGI Capital is the fund management company that manages "ZGI fund”, that was founded to support entrepreneurs lacking start-up capital for their business. The total amount of assets available for venture capital investments is of EUR 7.4M. Combined with bank financing, this will allow to finance investment projects with total assets of up to EUR 30M. The fund acts on behalf of various investors including the State.

FlyCap is a venture capital firm specializing in seed/ startup, early venture, mid venture, middle market, PIPEs, bridge financing, growth capital, and mezzanine investments. It prefers to invest in manufacturing which includes food, electronics, metallurgy, construction materials, chemicals, pharmacy, processing of agricultural products, timber, engineering and other products; Information Technology, healthcare, and B2B services. It does not invest in immoral industries which includes alcohol, tobacco, wagers, and weapons; insurance and financial intermediation; fisheries and aquaculture including primary production and not further processing; agricultural products and livestock farming including core product extraction; cogeneration; and companies in financial distress. It prefers to invest a maximum of €1.5 million ($1.64 million) in a single entity. In case of a start-up company the first investment can amount between €50,000 ($54,933) and €200,000 ($219,734) with the rights to invest more and acquire additional equity in the future. For sums up to €200,000 ($219,734) the firm finances 100% of the necessary funds and for sums above €200,000 ($219,734) the firm finances up to 55% of the necessary funds. For mezzanine, it prefers positive cash flow, that covers mezzanine interest payments. For startups, it prefers to have existence of first clients and financial participation of the entrepreneur in the project. The investment can be used to finance both fixed assets and working capital and cannot be used to finance buyout. It prefers to take a seat on the advisory or management board. The firm seeks to exit its investments in four to six years and plans to sell the shares it owns via company management, other shareholders, strategic investor, financial investor, IPO or other options. It invests both in capital/equity of the company. FlyCap was founded in 2013 and is based in Riga, Latvia.

Mid Europa is a buyout investor, focused on the growth markets of Central and South Eastern Europe with approximately €4.6 billion of funds raised and managed since inception.

Credit Suisse Private Equity is the private equity arm of global private bank and wealth manager, Credit Suisse. The division invests in mezzanine, buyouts, secondaries, primarily in Europe and North America. The firm is based in London, United Kingdom.

The International Fund Distribution team at Citi screens the market for attractive investment opportunities through specialised asset managers, who give access to a specific asset know-how while demonstrating track-record and expertise. In parallel, the team keeps abreast of investment and portfolio allocation trends amongst Citi’s institutional clients with the aim to match their needs with those select managers.

UBS Asset Management delivers to the UK market the extensive capabilities of a truly global organisation. They offer a powerful partnership of independent global research, state-of-the-art risk management and cost-effective dealing. This all adds up to one clear aim to deliver superior investment performance and client servicing.