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Buildit VC is a venture capital fund established in 2013 in Estonia, currently based in Riga, Latvia. Originally founded as an accelerator, it has evolved into a full-fledged venture capital firm capable of investing up to €1.5 million in early-stage companies. The fund has a strong commitment to fostering innovation in the hardware and IoT sectors, contributing significantly to the growth of the Baltic tech ecosystem.
As of now, Buildit VC has supported over 80 startups through 18 accelerator batches, focusing on helping them scale and develop their products. The firm primarily targets startups incorporated or predominantly operating in Latvia, with a growing interest in the broader Baltics and Nordics. Buildit VC's total assets under management (AUM) are estimated at €2 million, reflecting its active role in the regional startup scene.
Buildit VC primarily invests in early-stage startups within the Industry 4.0 space, which encompasses sectors such as robotics, automation, AI, and software solutions. The fund provides pre-seed investments of up to €250,000 and seed stage investments of up to €1.5 million. This financial support is aimed at startups that demonstrate early traction and a clear growth strategy.
The geographical focus is on startups incorporated or predominantly operating in Latvia, with additional interest in the Baltics and Nordics. Buildit VC seeks to support companies in scaling from early development stages toward market leadership, emphasizing the importance of innovation in hardware and IoT. The firm looks for founders who are passionate about their projects and possess a strong vision for their companies.
Buildit VC has an extensive portfolio of over 80 companies, showcasing its commitment to supporting innovative startups. Notable portfolio companies include:
This diverse portfolio reflects Buildit VC's focus on hardware and IoT startups, particularly those that align with the Industry 4.0 theme.
Matīss Neimanis: Partner at Buildit VC, Matīss has a background in venture capital and startup development, focusing on early-stage investments.
Zigmārs Reklaitis: Partner, Zigmārs brings extensive experience in technology and business development, having worked with various startups in the region.
Rene Tõnnisson: Partner & Investor, Rene has a strong track record in investment management and has led several successful funding rounds.
Rūdolfs Neimanis: Partner & Finance Manager, Rūdolfs oversees financial operations and ensures effective fund management.
Elīna Avotiņa: Compliance and Risk Management, Elīna is responsible for ensuring that the firm adheres to regulatory standards and manages risk effectively.
Aleksander Tõnnisson: Partner, Aleksander focuses on strategic investments and has a keen interest in technology startups.
Kaspars Kalnišs: Lead Tech Mentor, Kaspars provides technical guidance and mentorship to portfolio companies.
Merey Beisembayev: Marketing & Communications, Merey handles the firm's marketing strategies and communications.
Jānis Zēgners: Lead Financial Mentor, Jānis offers financial advice and support to startups in the portfolio.
To pitch Buildit VC, founders should submit their applications through the F6S platform at this link. The pitch deck should include a clear overview of the business model, market opportunity, and growth strategy. Buildit VC prefers warm introductions but also accepts direct applications.
Response times can vary, but founders can generally expect feedback within a few weeks of submission. It is advisable to ensure that the pitch clearly outlines the startup's unique selling points and potential for scalability.
Buildit VC operates a full-stack accelerator program designed to support early-stage startups. The program includes a Pre-Seed Fund, which offers investments of up to €250,000 for startups with a minimum viable product (MVP). Additionally, the Seed Fund provides investments of up to €1.5 million for startups that demonstrate early traction and a clear growth strategy.
The accelerator program lasts for four months, during which startups receive mentorship and resources to refine their business models. Follow-on support extends for over two years, ensuring that companies have the guidance needed to scale effectively.
As of March 2023, Buildit VC has actively supported over 80 startups through its accelerator program, which has completed 18 batches. The firm continues to focus on early-stage investments in hardware and IoT sectors, contributing to the growth of the Baltic tech ecosystem.
Recent activities include ongoing mentorship and support for portfolio companies, helping them navigate their growth journeys. Buildit VC remains a key player in the Baltic startup scene, with a commitment to fostering innovation and supporting emerging technologies.
What are Buildit VC's investment criteria?
Buildit VC invests in early-stage startups primarily within the Industry 4.0 space, including robotics, automation, AI, and software solutions. They focus on companies incorporated or predominantly operating in Latvia, with interest in the Baltics and Nordics.
How can I apply or pitch to Buildit VC?
Founders can apply for funding through the Buildit VC accelerator program by submitting their applications via the F6S platform at this link. The application process is straightforward and allows startups to present their business ideas effectively.
What makes Buildit VC different from other investors?
Buildit VC combines venture capital investment with a comprehensive accelerator program that includes mentorship and follow-on support for over two years. This dual approach helps startups navigate their growth journey more effectively.
What is the typical check size for investments?
Buildit VC provides pre-seed investments of up to €250,000 and seed stage investments of up to €1.5 million, depending on the startup's stage and needs.
What kind of post-investment involvement does Buildit VC have?
Buildit VC offers extensive mentorship and operational support to its portfolio companies, helping them scale their operations and refine their business strategies over a period of two years.
What is the geographical scope of Buildit VC's investments?
The firm primarily focuses on startups in Latvia, with additional interest in the broader Baltic and Nordic regions, aiming to support the growth of the local tech ecosystem.
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