Posted on
November 6, 2022

Top 10 VC Investors in Estonia

Sina Sadegh
Co-Founder @ BaseTemplates

This article contains the Top 10 Venture capital Investors in Estonia. With its unique business environment, Estonia has become one of the most successful and fastest growing start-up hubs in Central and Eastern Europe. This is witnessed by the number of world leading technologies that have been founded in Estonia.

Top 10 Venture Capital Firms in Estonia

1. Startup Wise Guys

Startup Wise Guys-VC-Estonia

Startup Wise Guys is one of the most active early stage investors in the broader CEE region and Nordics, has been voted Top VC fund in the CEE in year 2019. To help techy startup founders become true entrepreneurs, we are running a world-class startup accelerator since 2012. We have accelerated more than 300 startups, focusing on Sustainability,B2B SaaS, Fintech, Cybersecurity, and XR. The portfolio has already had 11 major exits and the overall startup survival and success rate is above 80%. The intensive up to 5 months-long accelerator program is focused on validating, developing, and selling products to business customers. Over 200 international and local mentors help startups move through those stages much faster than they would on their own. Founders are also prepared to sell their vision to investors, and the program culminates in Demo Days & major tech event visits, where startups get to present to venture capitalists and angel investors. Post-program, startups join the alumni community of 300+ startups in more than 40 countries and become eligible for invite-only alumni events such as SWG Getaway focused on business development, fundraising, and experience sharing.

Website: www.startupwiseguys.com

Founded: 2012

Top Industries active in: Software, Information Technology and SaaS.

Number of Investments: 394

Exits: 7

Startup Wise Guys's most notable exits include CallPage, VOCHI, and VitalFields.

2. Superangel

Superangel-VC- Estonia

Superangel is an early stage fund investing into for the builders of world-changing technology in the Baltics and Nordics.

Based in Tallinn, Superangel is founded, run and backed by tech entrepreneurs who know what it takes to build industry-defining companies. They're early backers of global success stories such as Bolt, Pipedrive, Grabcad, and Veriff – and have the founders they once invested in backing Superangel today.

Website: www.superangel.io

Founded: 2018

Top Industries active in: Software, Artificial Intelligence and Transportation.

Number of Investments: 57

Exits: 1

3. Metaplanet Holdings

Metaplanet Holdings-VC- Estonia

Metaplanet Holdings is an early-stage investment firm that invests in diversified sectors. They support novel and evidence-based innovations that could produce an outsized return for the benefit of humankind. The firm specializes in the fields of business development, venture capital, and financial Services.

Website: www.metaplanet.com

Top Industries active in: Artificial Intelligence, Software and Healthcare.

Number of Investments: 57

Exits: 1

4. Tera Ventures

Tera Ventures-VC- Estonia

Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Baltics, Scandinavia and CEE, disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to - the UK, the US, and Asia. With presence in Estonia, Finland, and California, Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from pre-seed and seed stage to successful exit. While investing we do not take a controlling shareholding as they believe that the management of the company should be adequately motivated by its shareholding in the company.

Website: www.tera.vc

Founded: 2016

Top Industries active in: Software, Artificial Intelligence and Information Technology.

Number of Investments: 45

Exits: 5

Tera Ventures's most notable exits include GrabCAD, VitalFields, and Rakuten Fits Me.

5. Raison Asset Management

Raison Asset Management-VC- Estonia

Raison Asset Management is an international investment company regulated by SEC US. We have been operating since 2014 and currently manage over $50 million of assets. Best Asset Management & Investment Banking Company – Estonia by Wealth & Finance Awards 2022.

You can reach us globally in 4 offices — Tallinn (Estonia), San Francisco (USA), Freiburg (Germany), and Almaty (Kazakhstan).

Website: www.raison.am

Founded: 2015

Top Industries active in: FinTech, Software and E- Commerce.

Number of Investments: 33

Exits: 10

Raison Asset Management's most notable exits include Animoca Brands, Airbnb, and Robinhood.

6. Karma Ventures

Karma Ventures-VC- Estonia

Karma Ventures (karma.vc) is an early-stage venture capital firm, specialised in late seed and A round investments in Europe’s most promising deep tech startups. They back companies with strong ideas delivered with unique technology, customer traction and global ambition. karma.vc accompanies entrepreneurs in figuring out the path to growth in all aspects - commercial, strategic and technical

Website: www.www.karma.vc

Founded: 2016

Top Industries active in: Software, Artificial Intelligence and Information Technology.

Number of Investments: 32

Exits: 4

Karma Ventures's most notable exits include TrademarkNow, Plumbr, and AppGyver.

7. Specialist VC

Specialist VC-VC- Estonia

We are a venture capital fund supporting forward-thinking founders from Estonia, Latvia, Lithuania, Finland and Ukraine. We mainly invest in B2B, SaaS, Fin Tech, platforms, software enabled hardware and deep tech, but we don’t limit ourselves to those areas . We’ve invested in and built long-term relationships with over 45 brilliant teams building tech companies that are really changing the way the world works. Some of them have become superstars already, and others are just preparing to take off. We often support them through several rounds.

Website: www.specialist.vc

Founded: 2017

Top Industries active in: Software, Information Technology and FinTech.

Number of Investments: 32

Exits: 1

8. Lemonade Stand

Lemonade Stand-VC- Estonia

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

Website: www.lemonadestand.ee

Founded: 2019

Top Industries active in: Software, SaaS and Artificial Intelligence.

Number of Investments: 25

9. Spring Capital

Spring Capital-VC- Estonia

We invest in exceptional founders in the Baltics & Nordics.

a) with the Seed Fund we invest in scalable technology-driven startups. We make €75-200K checks in the seed stage, typically as part of a larger round that gives at least 18 months of runway.

b) with the Growth Fund we invest in growth companies (gazelles) that are already EBITDApositive, or close to it. Our strategy is to acquire a minority shareholding in exchange for EUR 300K-700K investment.

Reach out through invest@springcapital.ee.

Website: www.springcapital.ee

Founded: 2008

Top Industries active in: Software, SaaS and E-Commerce.

Number of Investments: 22

10. Thorgate Ventures

Thorgate Ventures-VC- Estonia

Thorgate Ventures is the seed stage venture capital arm of Thorgate, doing up to four hands-on investments per year, mostly into scalable B2B solutions. Their mission is to use technology to make the world a better place. They are looking for teams that have a balance of team culture, passion, and rationality, and execution power. They believe that the right people together can build great businesses.

Website: www.thorgateventures.com

Founded: 2011

Top Industries active in: Software, SaaS and Information Technology.

Number of Investments: 20

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