
Skeleton Technologies receives the Baltic Private Equity/Venture Capital Deal of the Year award

Last week, the Baltic M&A and Private Equity Awards 2021 were presented for the most significant deals closed in Lithuania, Latvia, and Estonia last year.
The virtual awards ceremony closed the eleventh Baltic M&A and Private Equity Forum, an event was organised by Sorainen, an international business law firm, in cooperation with the leading business publications from Baltic countries – Verslo žinios (Lithuania), Dienas Bizness (Latvia) and Äripäev (Estonia) – and Lithuanian, Latvian and Estonian venture capital associations.
Skeleton Technologies received the Baltic Private Equity/Venture Capital Deal of the Year award for having raised EUR 41.3 million in equity in November 2020, which “was possibly the most important investment round in the clean technology market in Europe last year”, according to Sorainen. When receiving the award on Skeleton's behalf, our Investment Director Jaak Ennuste commented:
“At Skeleton, we think of capital raising as a tool for building the business and not a goal in itself. The goal is to build a business which enables decarbonisation and helps fight climate change.”
Skeleton was selected by an independent pan-Baltic committee composed by Jūratė Majauskienė, Association of Financial Analysts (Lithuania), Jūratė Aželionytė, European Investment Fund, Kadri Lindpere, Managing Director at the Estonian Private Equity & Venture Capital Association, Prof. Enn Listra, TalTech School of Business and Governance, Mārtiņš Bičevskis, Board Member at the Latvian Private Equity & Venture Capital Association, and Lauris Balga, from Superia Corporate Finance.
Winners of other awards include Estonia-based Nortal for its acquisition of Schütze, a Germany-based company providing strategic consulting and software development solutions, Lithuanian energy company Ignitis Group, which was listed on the Nasdaq Vilnius and London Stock Exchange, after implementing the largest ever IPO in the Baltic States, and Boku, for its acquisition of Estonian fintech Fortumo.