The Latvian Business Angels Network (LatBAN) and the Latvian Private Equity and Venture Capital Association (LVCA) have announced nominees for the Gada Investors 2021 (Investor of the Year 2021) awards for Latvia's most significant investments in the industry last year. Private investors (commercial angels), legal and institutional investors, and private and venture capital advisors are all eligible for the award.
The time of the "Investor of the Year 2021" conference and award ceremony has been postponed to Thursday, March 31st, from 16:00 - 19:30. In the light of events in Ukraine, the program of the event has been changed to include two expert panel discussions. The first discussion will inform about economic trends and development scenarios in Latvia. In the second discussion, business and investment environment experts from Georgia and Israel will talk about the experiences of their countries - what changes are taking place and how the country's economy can be supported during the war and in the post-war period. In turn, the representative from Ukraine will share his experience mainly on the business situation before the war. "Investor of the Year 2021" will be available online, LatBAN and LVCA Facebook pages, and LatBAN YouTube channel.
Last year, private investors have helped Latvian start-ups attract the largest funding of the last decade - a total of 247 million euros*.
Kristīne Tarvida, LatBAN Executive Director: “Progress and results in both business and investment environment are gradual, so it is gratifying to see that despite various challenges in the economic pandemic, new and capable companies are still actively emerging in Latvia, while long-term companies are attracting new ones. investment records. It is especially proud that the Investor of the Year 2021 nominees include investors who have managed to achieve a tenfold return on investment last year. At present, when every Latvian and European citizen and entrepreneur is affected by what is happening in Ukraine, we are looking for solutions to maintain the positive growth trend and ensure investments in export-capable start-ups. Therefore, during the forthcoming conference, the main goal will be to find out what changed in the macroeconomic level Latvia will have to reckon with in the coming months and how the experience of Georgia and Israel could help Ukraine's economy and society to recover."
"INVESTOR OF THE YEAR 2021" NOMINEES IN THE BUSINESS ANGEL CATEGORIES
" Annual investment " on the amount of investment and the most promising future forecast:
- Ģirts Līcis, Kārlis Cerbulis and Uldis Cērps for a joint investment of EUR 150 000 euros in the startup WeedBot - high precision laser weeding technology;
- Capitalia Co-Investment Fund and its CEO Juris Grišins for an investment of EUR 250 000 in Industry-specialized 3D electromagnetic simulation software for induction heating and antenna design SaaS made by CENOS startup;
- Artūrs Bernovskis for investing in the startup Istapoll which makes interactive and contactless feedback software for gaining and enhancing customer relationship management.
"Most profitable investment of the year " for the most profitable investment in terms of return on investment and in absolute terms from the amount earned by the project:
Voldemārs Brēdiķis and Uldis Dzērve on investment in the live and remotely simultaneous interpretation platform Interactio, which supports face-to-face and Online events and can be integrated with third-party platforms. Interactio already operates in 111 countries. The investment achieved a 10x return 1,5 years time frame.
"The most environmentally friendly investment of the year" for the largest investment with the most positive impact on the environment:
Capitalia Co-Investment Fund and its CEO Juris Grišins for their investment in the wind turbine inspection, maintenance, and service company Aerones, which uses robotic solutions to save resources, reduce repair time and help increase energy production.
Kristīne Bērziņa, Chairman of the Board of LVCA: “Among the most significant investments and transactions nominated by LVCA members, we see the success stories of Latvian and Baltic investors last year, including investments in the first Latvian unicorn Printful. We are glad that the number of nominees and the importance of transactions is growing every year. This shows that the private capital sector in Latvia is getting stronger year by year.”
“INVESTOR OF THE YEAR 2021” NOMINEES - LEGAL & INSTITUTIONAL INVESTORS, CONSULTANTS
" Annual investment " on the amount of investment and future forecast:
- ZGI Capital for investment in the Estonian company eAgronom, which offers solutions for the implementation and management of sustainable agricultural practices by reducing carbon emissions in the sector ;
- "Balt Cap" as the leading ticket sales company in the Baltics Acquisition of Baltic Ticket Holding;
- Buildit for investment in the Estonian technology start-up Bercman technologies, which develops road safety and mobility products;
- Bergal Sagemount for the Printful investment, which enabled the company to achieve billions of dollars in value and so-called unicorn status;
- Livonia Partners for its investment in the Norwegian company CSUB, expanding the fund beyond the borders of the Baltic States;
- “FlyCap” for the investment in the transaction of SIA “Amata” and “EKJU” for the development of the wooden furniture for the gardening business.
"The Sale of the Year" on the scope, results, and impact of the transaction on the development of the growth capital sector:
- ZGI Capital and Balt Cap for investment in a network of service stations a Kool Latvija for sale _ Olerex Group holding company Aqua Marine in Estonia;
- BaltCap for the sale of SIA EKJU;
- Fortum for the sale of the Baltic heat supply business to Partners Group;
- Livonia Partners for the sale of shares in its portfolio company Santa Monica Networks to Latvijas Mobilais Telefons;
- Wermuth Asset Management manager Green Gateway Fund for the sale of 48% of the shares of the concrete technology company Primekss;
- FlyCap for the sale of RCG Lighthouse to Orion.
The nomination “Financial Advisor of the Year” on the scope of results and significance of the advice provided to investors includes:
- Porta Finance for advising:
- Fortum on the sale of its heating business in the Baltics;
- Baltic Ticket Holding owners on its sale to BaltCap;
- Oaklins for advising Kirkenes Fondsforvaltning on the sale of a stake in Baltic Pork, advising BaltCap on the sale of Labochema, and advising Deeper on investment;
- AUCTUS CAPITAL for consultations:
- in the sales process of the Latakko Group to Superia;
- advising Livonia Partners on the sale of Santa Monica Networks to LMT;
- to EKJU management on the acquisition of BaltCap and its founders;
- to Utilitas about advice needed of acquisition of the Tārgale wind farm project;
- on purchase of Primekss from the Green Gateway Fund;
- KPMG Baltics for supporting the sale of OSS Networks;
- PricewaterhouseCoopers for:
- consulting Duke I S.a.r.l. in the acquisition of JSC Valmieras stikla šķiedra;
- consulting LMT about Santa Monica Network deal;
- financial consulting for AE Industrial Partners LP in the acquisition of UAVFactory.
" Legal Advisor of the Year 2021":
- Walless for representing Kool's investors in the sale with Olerex;
- Sorainen for:
- representing Bregal Sagemount in the Printful investment deal;
- advising Fortum on the sale of its district heating business in the Baltics;
- representing Primekss Group in the Green Gateway Fund transaction;
- TGS Baltic for advising ALTUM Capital Fund on its investment in iCotton;
- “Ellex Kļaviņš” for:
- “Printful” consulting, attracting investments from “Bregal Sagemount”;
- “Livonia Partners” consulting for “Santa Monica Networks” deal;
- assistance to “SG Capital Partners Fund I” in connection with the acquisition of the logistics complex in Riga;
- KPMG Law for a full range of legal support in the sale of OSS Network;
- Trinity for legal advice on Amata and RCG Lighthouse transactions.
Voting for the nominees will take place in accordance with the rules announced by LatBAN and LVCA. Within the framework of the Investor of the Year 2021, the “Supporters of the Industry of the Year” will also be awarded for their sustainable contribution to the development of the industry. The winners will be determined by the LVCA and LatBAN boards, evaluating the support received last year and the amount of cooperation.
The "Investor of the Year 2021" award is organized in cooperation with the Ministry of Economics and the Development Finance Institution ALTUM and co-financed from the resources of the European Regional Development Fund.
About "Investor of the Year"
LatBAN and LVCA initiative “Investor of the Year” was established in 2015 to promote the development of the Latvian investment industry, gather the achievements of investors, honor investors, and highlight the supporters of the industry who have made a significant contribution to the development of Latvia's investment environment and business. More information and the competition regulations are available on the award website.
*Source: Labs of Latvia.
