Baltcap Private Equity Fund II

Location:

Regional

Project number:

44847

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

26 Nov 2013

Status:

Signed

PSD disclosed:

14 Jun 2013

Project Description

The EBRD is considering an investment of up to EUR 20 million to BaltCap Private Equity Fund II (the “Fund”). The Fund will invest in equity and equity-related securities of small or medium sized enterprises (“SMEs”) and Small Mid-Cap enterprises (“SMCs”) in Estonia, Latvia and Lithuania (the “Baltics” or “Baltic States”).

Transition Impact

The transition impact of the proposed project would come from the following areas:

(i) the Fund will facilitate improved access of SMEs and SMCs in the Baltics to equity capital and provide wider demonstration of the attractiveness of private equity financing;

(ii) the regional buy-and-build strategy of the Fund will facilitate much needed consolidation of SMEs and SMCs in the Baltics and promote their 'regionalisation'’; this will also demonstrate to other private equity funds and companies the viability of a cross-border consolidation strategy in the Baltics;

(iii) the Fund will promote high standards of corporate governance and integrity at the level of the Fund and the investee companies.

The Client

BaltCap is a leading private equity and venture capital fund manager in the Baltics, investing in the region since 1996.

EBRD Finance

The Bank will invest up to EUR 20 million.

Project Cost

The target size of the Fund is EUR 100 million.

Environmental Impact

Categorised FI.

The Fund will be required to comply with EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries) and implement the EBRD's Environmental and Social Procedures for Active Equity Investments.

The Fund will be required to submit an annual environmental and social report to the Bank.

Technical Cooperation

None.

Company Contact

Martin Kõdar
Managing Partner
martin.kodar@baltcap.com
Tartu mnt. 2,
10145 Tallinn, Estonia

Tel: +372-6650-280
Fax: +372-6650-281

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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