BaltCap Infrastructure Fund (BInF) with the size of €100m provides development capital for transport, energy, energy efficiency and other infrastructure projects in the Baltic region. The fund has a duration of 20 years.
Investors of the BInF include all of the largest pension funds of the Baltic States – SEB, Swedbank, Citadele and LHV, so effectively a large part of the Latvian population is benefiting from the investment in the renewable energy in Latvia. Other investors include the European Bank for Reconstruction and Development, European Investment Bank – This EIB support is guaranteed under the European Fund for Strategic Investments (EFSI), a central element of the Juncker’s Commission Investment Plan for Europe, NEFCO – Nordic Environmental Finance Corporation and Swedbank Life Insurance.
BaltCap follows the most rigorous policies of responsible investment and climate change mitigation criteria and believes that environmental, social and corporate governance (“ESG”) issues play an increasingly important role in today’s business environment. We have incorporated ESG issues into our investment process and our daily operations, and see engagement in ESG issues as not simply a box-ticking exercise, but a prerequisite for delivering sustainable long-term growth within our portfolio.
BaltCap is a signatory of the United Nations Principles for Responsible Investment (UNPRI) since 2008 and a member of the Invest Europe (formely EVCA), abiding by the Invest Europe’s Corporate Governance Guidelines and IPEV Investor Reporting Guidelines. In addition, BaltCap is a founding member of the Estonian, Latvian and Lithuanian Venture Capital Associations.
Recently we also implemented our own Code of Responsible Behaviour. This Code acts as a set of principles for responsible, ethical and sustainable business practice that BaltCap confirms to follow and expects the portfolio companies to follow as well.