At the heart of Europe's growing deeptech movement lies a remarkable story worth sharing. Being a female founder who’s bootstrapping, I often look at funding moves with both amazement and critical thought. Aneli Capital, with its €35M fund aimed at the Baltic region, caught my interest not just for its numbers but for its approach. This fund has the potential to unlock opportunities for entrepreneurs struggling to scale innovation in robotics, smart manufacturing, and energy sectors. Let me break it down for you.
The Baltic Deeptech Landscape
The Baltics aren’t a typical hotspot for venture capital, especially in deeptech. Traditionally, markets like Germany or France attract tech-focused funds, leaving smaller countries like Lithuania, Latvia, and Estonia reliant on minimal funding pools. Aneli Capital, headquartered in Vilnius, is flipping this assumption. By setting up a €35M fund, they aim to cover critical gaps for early-stage startups in the region.
Instead of focusing primarily on AI, which attracts significant investment globally, Aneli has placed its bets wider: on ICT, robotics, photonics, and sustainable energy. These focus areas align tightly with the practical needs of today’s world. Entrepreneurs in these domains have long complained about mismatched funding priorities, and this fund seeks to change the narrative.
How Aneli Capital Operates
Their approach is hands-on, with 20 expected investments over five years. From what I’ve observed around Europe, the mistake founders make most often is accepting money while failing to recognize who their investors are as people. Aneli describes their model as a genuine partnership, pushing both capital and mentorship into the equation. The backing by Lithuania’s INVEGA and Poland’s Magna Polonia further strengthens their confidence in staying for the full journey.
Another standout detail? More than half of the fund will be directed towards Lithuanian startups, confirming their intent to nurture local growth before looking abroad. Contrast this with many funds that dump money in trending sectors without solid regional accountability.
Lessons Female Founders Like You and Me Can Learn
Female founders in Europe face layered challenges. Resources are limited for many, making facts such as “more than half of the €35M fund being placed in Lithuania” seem distant unless localized to other smaller hubs. Here is the first lesson: start locally, bloom regionally. Aneli’s regional focus echoes that sentiment, reinforcing the idea that scaling doesn’t start with global ambition; it starts with solid local partnerships.
Second, watch for the kind of investor mix. Diversity in funding goals matters as much as fixing diversity issues in teams. Investors who look beyond trends leave room for innovation backed by measurable value, a key mentality any founder should embrace early. Avoid overly enjoying the hype if you want to prove economic validity.
Top Mistakes Startups Make When Approaching Funds
- Sacrificing long-term vision for quick funding: This never ends well.
- Focusing only on pitch decks: Practical growth metrics matter above shiny presentations.
- Ignoring the practicalities of soft skills: Investors partner with people, not just ideas.
- Failing to track unused funding regions like the Baltics: You might be skipping viable investor spaces simply because they don’t pop up in global rankings.
- Allowing ego to wing the negotiating process: You won’t win if your startup sounds less coachable.
How to Prepare for Similar Opportunities from Funds Like Aneli Capital
- Develop Regional Focus: Demonstrate your commitment to scaling in specific markets before pitching global changes.
- Show Early Proof of Paying Customers: This fund distinctly favors practical traction over futuristic trials.
- Understand What Mentorship Means: It’s not an extra, it’s part of why venture capital should matter to founders beyond financial backing.
For instance, a smart manufacturing startup in Latvia might focus first on dominating local market segments while preparing the base for automation. That step-by-step method signals maturity to investors like Aneli Capital.
Is This a Model to Expand to Other European Markets?
Absolutely. While Lithuania gets immediate benefits, scaling such funds across underserved EU regions means more founders can rise in spaces otherwise lost to hype games. Creating 20 practical partnerships with Baltic founders will serve as proof that structured guidance works better than one-shot funding frenzies. If it succeeds, ambition for deeptech funding might finally grow where it belongs, all around Europe.
A Personal Thought on Women's Role in Deeptech
Seeing regional funds like Aneli emerge reminds me why balance matters: both in who gets money and how it’s distributed. Women founders represent a significant contribution to tech. Still, even with record funding in Western Europe, 2023 statistics from Atomico’s tech report showed uneven shares for diverse entrepreneurial groups. Efforts like Aneli’s offer an indirect message: to think globally, we first need equal support locally.
Wrapping It Up
Here’s my takeaway. Any fund aiming to balance local investment priorities with a broader deeptech focus aligns perfectly with what Europe needs today. If you’re an entrepreneur or startup founder eyeing Baltic markets, funds like Aneli represent hope for paths you might not have considered before.
I will certainly be following their progress. For ideas expanding within ICT or robotics, you should look deeper into partnerships that value measurable steps. Check out Aneli Capital’s story via Tech Funding News and see for yourself if their model speaks to your vision. Startup journeys rarely move in predictable lines, but with regional support like this on the rise, I see the startup ecosystem tilting, finally, toward fairness and innovation.
Now the question remains: will you grab onto funding models like Aneli’s and scale smartly, or stay in traditional circles? Europe is yours to build.
FAQ
1. What is Aneli Capital's €35M fund designed for?
Aneli Capital's €35M fund is established to invest specifically in deeptech startups across the Baltics and Central Eastern Europe (CEE), with a focus on ICT, robotics, photonics, smart manufacturing, and energy innovation sectors. Read more about Aneli Capital's investment focus
2. How does Aneli Capital plan to allocate the funding geographically?
Over 50% of the fund is set to be invested in startups within Lithuania, while the rest will focus on Latvia, Estonia, Poland, and other CEE countries. Learn about Aneli Capital's geographic strategy
3. What is unique about Aneli Capital's approach to venture funding?
Aneli Capital emphasizes a hands-on, partnership-driven model that includes mentorship and strategic guidance, focusing on startups with measurable growth and proven business traction. Discover Aneli Capital’s partnership model
4. Who are the key backers of the fund?
The fund is backed by Lithuania’s National Development Bank (INVEGA) and Poland’s Magna Polonia, securing strong regional support for their venture. Read about Aneli Capital's backers
5. What is the fund's investment expectation over its timeframe?
Aneli Capital plans to invest in 20 startups over a period of five years, with each investment averaging around €1.5 million distributed across multiple tranches. Explore Aneli Capital’s investment plan
6. What lessons can female founders learn from this fund model?
The fund highlights two key lessons for female founders: starting locally and scaling regionally, and working with investors who prioritize practical innovation over hype.
7. How does Aneli Capital address diversity in their investment choices?
Aneli Capital emphasizes the quality and values of founding teams while tracking diversity across their portfolio to ensure inclusivity in their investments. Read about Aneli Capital’s diversity approach
8. Which mistakes do startups often make when approaching similar funds?
Key mistakes include sacrificing long-term vision for quick funding, focusing only on presentations instead of metrics, ignoring soft skills, and sidelining underutilized regions like the Baltics.
9. What defines a suitable candidate for funding under the Aneli model?
Startups targeting Aneli Capital need to show measurable market traction, early-stage revenue, and evidence of local/regional scaling potential to qualify for funding.
10. Is there potential to replicate this funding model in other underserved European regions?
Yes, the Aneli Capital model can easily be expanded to other markets in Europe, addressing gaps in deeptech funding while promoting local ecosystems. Examine the scalability of Aneli Capital's fund model
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
