Change Ventures operates the largest seed-stage fund ever raised for the Baltics (€49m Fund II) while deliberately restricting investments to startups from Estonia, Latvia, Lithuania and their diaspora, with partners in all three Baltic states plus diaspora partners including a US-based Latvian founder and Google's Head of Baltics as a Lithuanian venture partner. The firm produces the Baltic Startup Funding Report, a semi-annual dataset covering ~60% of all pre-seed and seed rounds in the region based on confidential terms shared directly by founders, effectively making them the default market data provider for Baltic early-stage venture.