Companies in the Baltic States issued an all-time record of EUR 6.68bn in bonds in 2025, which was an increase of more than double from 2024, The Baltic Times reported. The volume of local bonds issued totalled EUR 1.37bn, which was up 42% over a year. The number of Baltic companies issuing bonds reached a record 121 (up 16%), including 64 in Lithuania, 32 in Latvia, and 25 in Estonia. Banks accounted for 55%, non-bank lenders for 14%, and real estate developers for 10% of the total volume of bonds issued on the Baltic market in 2025. At the same time, the Baltic IPO market remained dormant.
Baltic startup companies raised a total of EUR 607mn of new funding in 2025, which was up from EUR 505mn in 2024, according to venture capital funds Firstpick and Practica Capital’s Baltic Startup Funding Report, BNS reported. AI developers accounted for 46% of all capital raised. Meanwhile, the European Investment Fund and the national development finance institutions of Estonia, Latvia, and Lithuania have set up a new EUR 225mn fund, Baltic Innovation Fund, to help growth-stage companies in the Baltic States raise up to EUR 700mn of new funding over a period of five years, LSM reports.