BaltCap promotes four to partners

According to a statement, the promotions are part of the GP's expansion strategy designed to increase its focus on the Baltic region. Kalda and Kullman are based in the Tallinn office and are both part of the private equity team. During his career at BaltCap, Kalda oversaw several investments including gas distribution and trading company Energate, wind farm developer Tuuleenergia, aircraft maintenance provider Magnetic MRO and financial process automation company Fitek.

Kullman worked on deals across the healthcare sector, including clinical laboratory Quattromed, dental care chain Unimed and occupational healthcare provider Qvalitas.

Jaunarajs is based in the firm's office in Riga and leads the investment teams for the BaltCap Latvia Venture Capital Fund and BaltCap Growth Fund vehicles.

Celutka is based in Vilnius and leads the Lithuania SME Fund team and BaltCap Growth Fund team in Lithuania. He has worked on deals including gym chain Impuls, private healthcare service provider InMedica and coffee shop chain Coffee Inn.

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