Lead investors make the biggest contributions to the winning teams and guide the whole process of syndicate investment. As this year LatBAN and LitBAN have also jumped on board, the amount of investment and quality of the process is expected to be high. From the Latvian business angel network side the lead investors are Ansis Spridzans and Girts Licis, Lithuanian lead investor is to be announced any day soon.
Latitude59 startup pitch competition has for a long time been a kickstarter for startups to continue their marathon of building brands and innovative businesses. This is the 7th time for the EstBAN network to make a syndicate investment into the winning team(s) of the flagship startup event in Estonia. Formerly Fractory, Atom Mobility, Ender Turing, Adact, Vocal Image, Cino and Flowstep have received angel investments from the Latitude59 teams. Adact has already announced a successful exit this spring.
Lead investor Jana Budkovskaja, CEO of Beamline Accelerator, has 10 years experience in innovation and entrepreneurship, having supported and fostered investments in more than 100 teams with €1M. Beamline Accelerator manages a portfolio of 42 startups with a total investment of €2.6 million. Budkovskaja is also a member of the management board of EstBAN.
“As a passionate advocate for cleantech and deeptech, I believe the most groundbreaking innovations emerge at the intersection of sectors – especially when there’s a validated product-market fit. Syndicate investing is not just about capital; it’s a fine-tuned balance of a startup team’s readiness and maturity to truly leverage business angel support,” Budkovskaja says.
David Clark, a fund member of EstBAN with Tera Ventures, supports their portfolio as Platform Partner. David has been part of the Estonian startup ecosystem since 2012 and made some 20 angel investments. An early backer of YC S22 startup Devyce and recently exited UK fintech Freetrade, he is back again working with the Latitude 59 syndication process having been part of the 2023 competition.
“I’m excited to co-lead this year’s investment with EstBAN with Jana. We already see another strong competition among all the startups who’ve applied and made it to the Top 30. After the incredible success of the competition 2 years ago, I’m looking forward to finding the next breakout founder and team alongside the wider Baltic Angel Investment community” David Clark adds.
A total of 391 startups from 47 countries around the world applied to participate in the Latitude59 Pitch Competition 2025. A jury made of investors and the Latitude59 team selected first the top 30 that were invited to pitch in the pre-finals. Out of these, five best teams will get an opportunity to pitch at the main event on May 23.
Latitude59 2025 takes place in Tallinn’s Kultuurikatel from May 21–23. It is the most international and influential startup and tech conference in the Baltics and New Nordics, bringing together startups, investors, and ecosystem builders from around the globe.
