FIRSTPICK Launches €25 Million Fund to Back Overlooked Talent at the Heart of Baltic Tech

FIRSTPICK, a first-check VC fund for Baltic founders, led by Partners Jonė Vaitulevičiūtė, Dmitrij Sosunov, Andra Bagdonaitė, Marijus Andrijauskas, and the team, has launched a new €25 million fund to invest in early-stage Baltic startups, focusing on founders who may be overlooked by traditional VC criteria. Some early and successful investments include Samphire Neuroscience by Emile Radyte, Copla by Aurimas Bakas, and Holo.

Backed by local entrepreneurs and private investors, FIRSTPICK supports early-stage teams from inception, helping validate ideas and strengthen the regional tech ecosystem.

Foreign investors accounted for 43% of Baltic startup deals in 2025, contributing to €607M in funding, according to the Baltic Startup Funding Report. Despite strong interest, connecting with top founders remains challenging, creating opportunities for investors with local insight to spot early talent others miss.

FIRSTPICK, a Vilnius-based first-check VC fund, is launching a new €25M early-stage fund to back Baltic founders outside the typical VC mold, focusing on pre-seed and inception-stage startups. The fund targets underpriced talent in AI-first software and is supported by local entrepreneurs from companies like Tesonet, Oberlo, and Kilo Health.

The initiative also receives backing from Lithuania’s Ministry of Economy and Innovation and the state-financed ILTE fund, with strategic support aimed at ensuring a consistent funding pipeline and strengthening the country’s innovation ecosystem.

FIRSTPICK focuses on backing founders, not resumes, recognizing that strong talent often follows unconventional paths. With seven years of experience across nearly 100 Baltic startups, the fund aims to identify founders whose grit and ideas stand out before the market takes notice.

“Everyone wants to back success once it’s visible, but we prefer to meet founders hustling below the radar,” says Andra Bagdonaitė, partner at FIRSTPICK, highlighting the emphasis on character and perseverance over credentials.

FIRSTPICK has built a track record of spotting promising founders early, often before mainstream investors take notice. Early investments include Emile Radyte’s Samphire Neuroscience, now serving thousands of clients in Europe, and the US and recently raising a $5M seed round, and Copla, a cybersecurity compliance firm that grew from a €650K pre-seed to a €6M Series A.

Younger teams like Holo have also benefited, achieving €5M in ARR within nine months thanks to early support. FIRSTPICK’s philosophy prioritizes talent over background, aiming to strengthen the Baltic tech sector and broader economy. “When the Baltic tech sector grows, the entire economy becomes stronger,” says Dmitrij Sosunov, managing partner at FIRSTPICK.