Key Takeaways
- • Baltic private equity and venture capital funds hold €1.4 billion in dry powder as of end-2025, positioned for deployment across regional and international opportunities.
- • €671 million of the available capital is earmarked for investments within the Baltic states, while over €600 million is reserved for outbound opportunities, reflecting managers' expanding global reach.
- • Baltic fund managers raised €749 million in 2025, more than double the 2024 total, signaling strong fundraising momentum and investor confidence in the region's PE/VC ecosystem.
- • Outbound investment reached a record €336 million in 2025, representing 70% of total capital deployed and demonstrating Baltic managers' increasing ability to execute cross-border transactions.
- • Exit activity rebounded sharply with divestments at cost rising 175% to €66 million across 53 transactions, driven primarily by private equity activity and signaling improved liquidity conditions.
Summary
Baltic private equity and venture capital funds are positioned for significant capital deployment, with €1.4 billion in dry powder accumulated by end-2025, according to the Baltic Private Equity and Venture Capital Market Overview 2025. Of this available capital, €671 million is designated for investments within the Baltic region, while over €600 million is earmarked for international opportunities, reflecting the maturation of Baltic fund managers and their capacity to pursue cross-border deals.
The 2025 fundraising environment demonstrated robust recovery and growth. Baltic fund managers raised €749 million during the year—more than double the €362 million raised in 2024—indicating renewed investor appetite for regional PE/VC opportunities. This rebound reflects strengthening confidence in Baltic market fundamentals and the track record of local fund managers. The active fund count reached a new high of 116 funds, while cumulative capital raised since 2010 has surpassed €4.6 billion, underscoring the deepening maturity of the ecosystem.
Capital deployment activity accelerated significantly in 2025, with outbound investment reaching a record €336 million, representing 70% of total capital deployed by Baltic managers. This outbound focus demonstrates the region's funds' increasing sophistication and ability to identify and execute international opportunities, moving beyond regional concentration. Concurrently, exit activity rebounded meaningfully, with divestments at cost rising 175% year-over-year to €66 million across 53 transactions, predominantly driven by private equity activity. This improvement in exit velocity signals improving liquidity conditions and the successful maturation of prior investments.
Since 2010, over five PE fund managers have established track records of making outbound investments, establishing the region as a source of capital rather than solely a destination for it. The combination of strong fundraising, elevated dry powder levels, and record outbound investment activity positions Baltic PE/VC funds to capitalize on emerging opportunities both regionally and globally in 2026 and beyond.
The 2025 fundraising environment demonstrated robust recovery and growth. Baltic fund managers raised €749 million during the year—more than double the €362 million raised in 2024—indicating renewed investor appetite for regional PE/VC opportunities. This rebound reflects strengthening confidence in Baltic market fundamentals and the track record of local fund managers. The active fund count reached a new high of 116 funds, while cumulative capital raised since 2010 has surpassed €4.6 billion, underscoring the deepening maturity of the ecosystem.
Capital deployment activity accelerated significantly in 2025, with outbound investment reaching a record €336 million, representing 70% of total capital deployed by Baltic managers. This outbound focus demonstrates the region's funds' increasing sophistication and ability to identify and execute international opportunities, moving beyond regional concentration. Concurrently, exit activity rebounded meaningfully, with divestments at cost rising 175% year-over-year to €66 million across 53 transactions, predominantly driven by private equity activity. This improvement in exit velocity signals improving liquidity conditions and the successful maturation of prior investments.
Since 2010, over five PE fund managers have established track records of making outbound investments, establishing the region as a source of capital rather than solely a destination for it. The combination of strong fundraising, elevated dry powder levels, and record outbound investment activity positions Baltic PE/VC funds to capitalize on emerging opportunities both regionally and globally in 2026 and beyond.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.