Change Ventures

www.changeventures.com

VCMatch tracks Change Ventures as an investor focused on AI/ML, Enterprise SaaS, and Vertical SaaS companies, Pre-Seed and Seed rounds, Estonia, Latvia, and Lithuania markets, and $108k to $540k check sizes. Upload your deck to compare your startup against the full private matching profile.

Check Size

$108k to $540k

Stages

Pre-Seed, Seed, Series A, Growth

Focus Areas

AI/ML, Enterprise SaaS, Vertical SaaS

Geography

Estonia, Latvia, and Lithuania

Investment Thesis

Change Ventures is a founder-first, team-driven pre-seed investor that prioritizes backing Baltic founders (or Baltic diaspora) who can build global-scale businesses. They focus on joining early (pre-seed) where “almost everything depends on the founding team’s ability to navigate the circuitous path to achieve product-market fit,” provide hands-on support to reach product-market fit, and use a deep regional and international network to help companies scale.

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Investment Focus

Who should take a closer look

Change Ventures is most relevant for founders raising Pre-Seed, Seed, and Series A rounds in AI/ML, Enterprise SaaS, Vertical SaaS, and Data Infrastructure, especially across Estonia, Latvia, and Lithuania, with public check-size signals around $108k to $540k.

Focus statement

Initial investments are at the pre-seed stage ("€100k-500k in pre-seed capital initial investments") into Baltic founders (Estonia, Latvia, Lithuania or Baltic diaspora) across sectors (software & hardware, e‑commerce, AI, B2B SaaS, consumer, etc.), with about half the fund reserved for follow-ons and a flexible co-investment approach.

Value Add

Pan‑Baltic, region-first approach — they describe themselves as the first truly pan‑Baltic seed/pre‑seed fund and explicitly focus on "local Baltic founders in Estonia, Latvia or Lithuania, or Baltic diaspora globally."
Team-first investment criterion — they state their main criterion is the team and whether founders "have the grit to succeed."
Hands-on, product-market fit support — they commit to "hands-on support to reach product-market fit and a deep network of later stage investors and partners."
Strong founder & operator network — a broad community of founders, angel investors and venture partners (many ex‑founders from Printify, Vinted, Giraffe360, etc.) that they actively leverage after investment.
Public regional intelligence & resources — they publish the Baltic Startup Funding Report and curate resources (legal, option regulation, newsletters) to increase transparency in the ecosystem.
Strategic public/private backing — Fund II deployed capital included the Baltic Innovation Fund (cooperation between the three Baltic republics and the EIF), giving them institutional ties and co‑investment credibility.