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