This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Baltcap Private Equity Fund II (EBRD-44847)

Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 26, 2013
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Jun 14, 2013

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
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. TECHNICAL COOPERATION None. COMPANY CONTACT Martin KodarManaging Partnermartin.kodar@baltcap.comTartu mnt. 2,10145 Tallinn, EstoniaTel: +372-6650-280Fax: +372-6650-281
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at

How it works

How it works