BaltCap Management has reached the €100 million hard cap for BaltCap Infrastructure Fund I after a year of fundraising. The firm’s debut infrastructure fund will target the lack of infrastructure equity funding in the Baltic States and will also have a strong commitment to climate change. BInF will primarily address the region’s transport, energy efficiency and renewable energy needs.
The European Investment Bank and the European Bank for Reconstruction & Development are both anchor investors in the vehicle, having committed €20 million each. Capital was also raised from existing investors and Citadele pension funds.