SEB Group launches ven­ture cap­i­tal in­vest­ment pro­gramme for Baltic fin-tech busi­nesses

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SEB Group has cre­ated new ven­ture cap­i­tal pro­gramme with an ob­jec­tive to in­vest in Latvia’s, Lithua­nia’s and Es­to­nia’s fi­nan­cial start-up com­pa­nies. «Its goal is find­ing promis­ing start-ups that could ben­e­fit the bank’s clients, as well as to sup­port re­al­iza­tion of their ideas fi­nan­cially. In the next five years, it is planned to in­vest in 10 to 20 Baltic start-up com­pa­nies,» SEB rep­re­sen­ta­tives say.

A typ­i­cal in­vest­ment amount for a sin­gle com­pany is planned from EUR 50,000 to EUR 200,000. This in­vest­ment will al­low the bank to be­come a mi­nor­ity share­holder and have an ac­tive role in the com­pany’s growth.

SEB Bank man­ager Ieva Tetere: «We would like to com­bine forces with fin-tech com­pa­nies with a clear plan for im­prov­ing fi­nan­cial ser­vices to re­al­ize plans to­gether».

Egita Polan­ska, head of Lat­vian Start-up As­so­ci­a­tion, says: «The new risk ven­ture cap­i­tal fund pro­gramme will def­i­nitely con­trib­ute a lot to Lat­vian and Baltic start-up ecosys­tem, es­pe­cially in the field of fi­nan­cial tech­nolo­gies».

To­gether with fi­nan­cial in­vest­ments, SEB Bank will of­fer com­pa­nies tech­ni­cal as­sis­tance, pro­vide men­tors and con­sul­ta­tions to help busi­nesses de­velop and re­al­ize their am­bi­tions more quickly, the bank adds.

Edijs Pālens/LETA

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