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Technology sector investment opportunities in the Baltics

Technology sector investment opportunities in the Baltics. Private equity investor’s view. Vygandas Juras Partner BaltCap Management. Profile of BaltCap Management. Largest private equity fund management company in the Baltics Four funds of 90 mEUR under management in the Baltics

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Technology sector investment opportunities in the Baltics

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  1. Technology sector investment opportunities in the Baltics Private equity investor’s view Vygandas Juras Partner BaltCap Management

  2. Profile of BaltCap Management • Largest private equity fund management company in the Baltics • Four funds of 90 mEUR under management in the Baltics • Offices in Helsinki, Riga, Tallinn & Vilnius (10 professionals) • Investment criteria: • Investment size from1 to 5 mln EUR (SME less than 1) • Preference for growth capital financing • Both minority(min 15%) and majority positions • All basic industries • 3-5 year investment horison • Exit through sale to a strategic investor • Technology exposure: Microlink, Informacines Technologijos, Ashburn International, Hansa Electronics

  3. Outline • Introduction to our firm • How venture capital/private equity works • What does it take to have a star in the Baltic technology sector? • Sector challenges and opportunities • Investment trends

  4. Levels of private equity investment Money Financing available in the Baltics VBRKV Established Balaef BaltCap Mezzanine ŠBIV BSEF Expansion LHV BaltCap Startup Startup ESTAG Seed Time

  5. Investment, EUR Performance Distributed, EUR 1 Superstar 10.0 1 Star 5.0 1 4.0 1 Average performer 3.0 1 Average performer 2.0 1 Living dead 1.0 1 Living dead 0.5 1 Dying dead 0.5 1 Total loss 0.0 1 Total loss 0.0 EUR 10 EUR 26 Economics of venture capital/private equity fund Star

  6. A leading local/regional company A local company-specialist with an innovative, globally competitive product Laser technology Medical devices GSM-related services …..? Investor targets FASTER, BETTER, CHEAPER THE BRAVE NEW WORLD

  7. Global competitiveness defined Global competitiveness is an ability of Baltic companies to offer unique goods and services marketable in international markets: • Products/services that have current utility in foreign markets; • Capability to commercialise, market and sell.

  8. Major challenges in gaining competitive advantage • Gaining international managerial expertise • Developing a global perspective • Adjusting current valuation expectations • Overcoming control or “my baby” syndrome

  9. Future Baltic technology investment trends • More private equity, less venture capital • M&A, consolidation financing • Systems integrators • Automation consultants • Network infrastructure companies • Telecom services providers • Buyouts • Family businesses • Fund exits

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