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

Estonia  
Rank: 44 · Score: 62.6  

Basic facts, 2015        
Population (millions) 1.3   IPOs and pulic issues (quartile) 2nd
GDP (US$ billions) 22.6   M&A volume (quartile) 2nd
GDP per capita (US$) 17,749.1   Venture capital investments (quartile) Bottom
GDP growth (per cent) 0.7   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VCPE Country Attractiveness Index 44 74, 74, 75, 79, 81 62.6
1 Economic Activity 91 59, 48, 37, 44, 34 78.6
2 Depth of Capital Market 62 56, 55, 59, 62, 63 44.0
3 Taxation 42 89, 90, 88, 85, 83 102.9
4 Investor Protection and Corporate Governance 21 102, 101, 101, 104, 104 85.9
5 Human and Social Environment 27 92, 89, 90, 97, 98 65.6
6 Entrepreneurial Opportunities 36 85, 81, 85, 89, 89 65.3


 
Historic performance, 2012-2016   Key driver performance, 2016

   

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 90.4 74.4 108.1 68.6 64.8 67.3
Turkey 89.5 75.0 107.5 64.1 46.4 56.9
Lithuania 79.0 50.0 100.1 74.7 68.2 63.9
Estonia 78.6 44.0 102.9 85.9 65.6 65.3
Romania 88.9 53.4 98.5 67.0 44.3 60.9
Hungary 85.7 49.3 96.8 60.9 56.0 60.4
Slovenia 80.9 36.5 116.3 68.1 64.4 73.4
Last updated: 8 August 2016