FIRSTPICK is a Vilnius-based first-check venture capital firm founded in 2022 by Dmitrij Sosunov and Andra Bagdonaitė, focused exclusively on backing Baltic founders at the earliest possible stage: inception and pre-seed. The firm operates on the conviction that the strongest founders in Estonia, Latvia, and Lithuania are consistently underpriced by investors who rely on conventional signals like FAANG employment history, Ivy League credentials, or previous exits, and that identifying them early, before external validation exists, is both a defensible strategy and a genuine service to the regional ecosystem.
FIRSTPICK focuses on AI-first software companies building for venture scale, with a generalist approach across the Baltic startup landscape. The firm is not sector-constrained, but Fund II sharpens its thematic focus on AI-enabled products and the very earliest stages of company formation. It backs founders across Estonia, Latvia, and Lithuania, including Baltic founders who have relocated and headquartered outside the region.
Fund II closed at €25M in March 2026. The fund is anchored by the Lithuanian state-financed ILTE fund, which committed €9M, alongside Lithuania's Ministry of Economy and Innovation.
The remaining capital comes from local entrepreneurs, angels, and founders of companies including Tesonet (the accelerator behind Nord Security and Surfshark), Oberlo (acquired by Shopify in 2017), and Kilo Health. The structure mirrors the approach used to back FIRSTPICK's first fund, pairing a public anchor with private co-investors to build a consistent early-stage funding pipeline for Baltic startups.
Fund II has a sharper thematic focus than Fund I, concentrating on AI-first software and the conception-to-pre-seed window. Fund I was a €20M vehicle launched in 2022, with investments in approximately 43 companies.
Leadership
Dmitrij Sosunov is Managing Partner, bringing seven years of experience investing in Baltic startups and deep roots in the regional founder community. Andra Bagdonaitė is General Partner and co-founder of FIRSTPICK, known for her approach of identifying founders before market consensus forms. Jonė Vaitulevičiūtė and Marijus Andrijauskas are also General Partners at the firm.
Investment Strategy
FIRSTPICK writes initial checks of €100K to €500K, with follow-on capacity up to €1M per company. The firm can lead rounds or co-invest, and moves quickly given the stage and check size. Beyond capital, portfolio companies gain lifetime access to a platform that includes a 250+ founder community, 100+ experienced operators who have built and scaled companies before, and hands-on early-stage support. The firm does not require a proven track record or recognizable CV from founders, and actively looks for talent that larger and more distant investors are likely to overlook due to geography or non-conventional backgrounds.
Notable Investments
FIRSTPICK's portfolio of 43 companies from Fund I spans AI software, healthtech, cybersecurity, and consumer products:
Other
FIRSTPICK is one of the few dedicated first-check funds in the Baltic region with a formal LP structure backed by both government and private capital, which gives it stability and the ability to deploy consistently across market cycles. For Baltic founders at the idea or very early stage, this is the most relevant institutional option in the region that does not require traction, pedigree, or an existing investor network to get a first meeting.
Dmitrij Sosunov — Managing Partner
Andra Bagdonaitė — Partner
Jonė Vaitulevičiūtė — Managing Partner
Lithuania
