FIRSTPICK Launches €25 Million Fund to Support Baltic Startups

Team S · 2026-03-09T14:08:50.000Z

Baltic venture capital firm FIRSTPICK has launched a €25 million early-stage fund aimed at supporting startup founders across the Baltic region, particularly those who may be overlooked by traditional venture capital criteria. The new fund will focus on inception and pre-seed stage startups, with a strong emphasis on AI-first software companies. FIRSTPICK typically invests €100,000 to €500,000 initially, with the ability to provide follow-on investments of up to €1 million as startups grow. The fund is backed by a mix of local entrepreneurs, angel investors, and institutional partners, including founders from companies such as Tesonet, Oberlo, and Kilo Health. Additionally, Lithuania’s Ministry of Economy and Innovation and the state-financed ILTE fund are supporting the initiative, with ILTE committing €9 million as a strategic investor. FIRSTPICK positions itself as a “first-check” investor, supporting founders from the earliest stages of company formation. Over the past seven years, the firm has invested in nearly 100 Baltic startups, helping early-stage founders validate ideas and scale their businesses globally. The new vehicle represents FIRSTPICK’s second fund, following its €20 million fund launched in 2022. With the new capital, the firm plans to strengthen the Baltic startup ecosystem across Lithuania, Latvia, and Estonia by providing early capital, operational support, and access to a founder network. FIRSTPICK’s strategy focuses on identifying promising founders early, often before larger investors recognize their potential, helping build the next generation of technology companies in the region.

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FIRSTPICK Launches €25 Million Fund to Support Baltic Startups | Newnex