Comments on: Full Picture of the Estonian VC’s – who are these guys?

By: Kristjan

Kristjan — Wed, 01 Sep 2010 20:16:27 +0000

Naiste osas on nüüd olukord parem: Heidi Kakko AFst oli asutajate hulgas ja temale lisandus sel suvel Kadri Vunder LSVentures’ist.

Usutavasti on riskikapitalitööstuses naiselik mõõde tõusev trend.

BaltCapi ajalugu ulatub tõepoolest 1995. aastasse, mil alustati investeerimist Baltimaades. Juhtimisfirmal oli tol ajal küll teine nimi.

Kogusime just EstVCAs statistika liikmete portfellide kohta, kokkuvõte peaks varsti meie veebilehele ilmuma.

Tore, et huvi tunned.

By: Andrus

Andrus — Tue, 02 Feb 2010 10:54:54 +0000

@Toivo

it would be interesting to read an interview with these “VC’s” to hear their thoughts on the Estonian startup scene, where are they looking to invest, how much… etc.

By: Toivo Tänavsuu

Toivo Tänavsuu — Sun, 31 Jan 2010 05:32:29 +0000

From the main page of BaltCap.com:

“BaltCap is the leading dedicated private equity and venture capital investor in the Baltic States (Estonia, Latvia and Lithuania). We have worked in the Region since 1995.”

By: Baltcap

Baltcap — Sat, 30 Jan 2010 15:41:33 +0000

“BaltCap, which has been operating since 1995, is one of the oldest venture capital and private equity investors in the Baltic countries. It provides private equity funding for growth companies.”

I find this highly highly unlikely given that Baltcap was registered only 2001 (and its daughter company 2007):

http://firmaparing.krediidiinfo.ee/index.php?f_otsil=baltcap&x=0&y=0#

So please Toivo check your facts more carefully otherwise your entire article can be considered dubious at best

By: Andrus

Andrus — Sat, 30 Jan 2010 14:27:45 +0000

Jüri what do you mean by few? In Estonia’s case if a person does 2-3 investments into startups I would consider him an angel investor.

Regarding so called “VC’s” would you consider MTVP one or an active one? Not sure, but did they do any investments at all last year?

Here’s a nice post TechCrunch put together on most active dealmakers last year:
http://trends.techcrunch.com/2010/01/29/vc-leaderboard-top-25-most-active-dealmakers-of-2009/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

By: Leo Siemann

Leo Siemann — Fri, 29 Jan 2010 21:31:09 +0000

Good start anyway ! It would be interesting to see top 10 companies who got the most VC in Estonia 2009. As you said Toivo, money is not the problem ,but luck of ideas. I heard that last year only has produced some 4000 various ideas for our country ! But VC goes to startups usually , so there is something missing in between. I suggest we need more than “Ajujaht” to reach out to those independent inventors and people with groovy ideas. US had “American Inventor” and UK got “Dragons Den” , which is even better. How about making our own version , where people really get some investments and advise from Private Equity guys. In return there will be obviously the stake of their business or IP.

By: Toivo Tänavsuu

Toivo Tänavsuu — Fri, 29 Jan 2010 17:37:21 +0000

I wouldn’t want to argue with you here, Jüri. But I would consider some factors here. For example I would bear in mind that VC culture here is not comparable with VC culture in California, US.
It’s probably only a start here. And one is right to say that there are only few real VCs in Estonia, one is Ambient Sound Investments. They have make several investments every year, recently mostly outside Estonia.

By: Jüri Kaljundi

Jüri Kaljundi — Fri, 29 Jan 2010 17:30:17 +0000

The key is to stop bullshitting. A company who does less than a few investments in a year is no VC. A person who does less than a few investments in a year is not an angel. Not every company who does equity investments is a VC. PE does not equal VC. All this miscommunication is wrong on so many levels for startups, larger audience, growth companies. Let’s get the facts straight.

By: Andrus

Andrus — Fri, 29 Jan 2010 15:09:08 +0000

Agree with Jüri. I think some of these “VC’s” did not make any investments in 2009 and will they do any in 2010 is not sure either.

By: Toivo Tänavsuu

Toivo Tänavsuu — Fri, 29 Jan 2010 11:41:13 +0000

Good idea, but needs some research. People from EstVCA told me they might be able to help me with the overall picture of 2009. Lets see..