The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Estonia  
Rank: 44 · Score: 60.2  

Basic facts, 2017        
Population (millions) 1.3   IPOs and pulic issues (quartile) 3rd
GDP (US$ billions) 23.3   M&A volume (quartile) 2nd
GDP per capita (US$) 17,952.2   Venture capital investments (quartile) 3rd
GDP growth (per cent) 4.1   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VCPE Country Attractiveness Index 44 71, 80, 80, 83, 81 60.2
1 Economic Activity 82 40, 42, 38, 39, 43 68.2
2 Depth of Capital Market 66 52, 58, 62, 65, 59 45.0
3 Taxation 40 88, 85, 83, 86, 85 104.0
4 Investor Protection and Corporate Governance 21 102, 104, 104, 105, 104 83.5
5 Human and Social Environment 33 87, 89, 88, 94, 92 61.1
6 Entrepreneurial Opportunities 41 86, 87, 88, 83, 84 61.2


 
Historic performance, 2014-2018   Key driver performance, 2018

   

VCPE Rank  
VC Rank  
PE Rank
Estonia  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Envorinment
Entrepreneurial Culture
and Deal Opportunites
Poland 89.0 75.8 107.8 63.0 60.8 66.8
Czech Republic 85.4 47.7 102.0 70.5 72.5 72.9
Turkey 94.3 72.2 107.4 59.1 43.3 55.6
Estonia 68.2 45.0 104.0 83.5 61.1 61.2
Lithuania 71.1 44.7 101.2 71.7 62.8 61.9
Romania 86.1 53.6 98.5 64.2 42.1 56.2
Latvia 67.2 48.8 107.0 69.2 53.0 57.7
Last updated: 4 Feb 2018