First Outside Round
Baltics Small Equity Fund LLC (BSEF)Baltics Small Equity Fund LLC (BSEF) Contact: Gary Dodge
The Fund invests in enterprises in Estonia, Lativia, and Lithuania. BSEF can invest in all industry sectors, but will NOT invest in entities whose principal activities involve tobacco or tobacco production, armaments, hard spirits, gambling, financial services, speculative activities such as real estate or commodities trading, or activities harmful to the environment.
BSEF can typically invest up to US $400,000 (in local currency equivalent) in a single business. With the capital it invests, BSEF acquires newly issued shares, giving BSEF 25% to 49% of the total equity of the company. BSEF will not take a majority share, except in unusual circumstances. BSEF seeks to support existing management, not to supplant it.
Candidates have from 5 to 100 employees, annual revenues between US $200,000 and US $2.0 million, and owners’ equity of US $100,000 to US $1,000,000. The Fund has no co-investment preferences.