Baltic Startup Funding Report 2025 (Practica Capital)
Summary
- Total capital deployed in the Baltic startup ecosystem reached €1606 million in 2025, up from €546 million in 2024.p.5
- Pre-seed and seed funding in Lithuania reached a record aggregate of €77m, contributing to €238m raised by Lithuanian startups in total.p.8
- Latvian startups raised €76m in total funding, supported by 3 new early-stage funds and over €60m+ in new dry powder.p.10
- Estonia captured 73% of all Baltic Series A rounds and raised €293m in total startup funding.p.12
- Foreign investors participated in 43% of all Baltic startup deals in 2025, up from 20% in 2020.p.32
- Venture capital managers focused on the Baltics raised 9 funds in 2025, securing €300m of fresh capital.p.33
Key insights
- Lithuanian startups set an annual record with 11 exits in 2025.p.8
- Estonian pre-seed investments experienced +2x YoY growth while account for 73% of all Baltic Series A rounds.p.12
- 78% of funded Baltic founders build startups within their prior domains.p.5
- 50% of funded Baltic founders have previously founded a startup.p.26
- Foreign investor participation in Baltic startup rounds reached 43% in 2025 compared to 20% in 2020.p.32
- Venture capital managers with a Baltic focus raised €300m across 9 new funds in 2025.p.33
- The report dataset analyzed detailed transaction-level data for 109 deals out of 175 Baltic funding rounds in 2025.p.39
Topics and entities
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