Baltic Unicorns: Estonia’s Ascendance and Lithuania’s Capital Growth

The Baltic Startup Funding Report by Change Ventures and FIRSTPICK has highlighted Estonia’s success as a startup hub, with a close proximity to Israel in terms of funded startups per capita. The report also shows growth rounds have surged in the Baltic states, particularly in Lithuania, but pre-seed and seed capital deployment has slowed. The report also reveals a shift in investor behavior, with a decline in equity investment and a rise in convertible notes in funding rounds. It shows a concentration of funding in mature and less risky startups. Estonia and Lithuania have equalized in terms of the total amount of funding raised, indicating a more competitive landscape between the two nations.