Estonia’s tech sector is one of the most vibrant and innovative in Europe, fueled by a sophisticated digital infrastructure and a culture of entrepreneurship. The role of venture capital in this ecosystem cannot be overstated, as these firms provide not only financial backing but also critical guidance and network access to budding startups. In this post, we’re showcasing the top 5 venture capital firms in Estonia, recognized for their crucial role in fostering innovation and supporting the country’s most promising tech startups.
We took into account the number of deals per year to create this list.
Startup Wise Guys
Startup Wise Guys is a prominent European startup accelerator and venture capital firm, focusing on B2B startups. They offer tailored programs and support for early-stage startups across various verticals like cybersecurity, fintech, and sustainability. The firm provides funding, mentorship, and networking opportunities to help startups scale globally. Since its inception in Estonia in 2012, Startup Wise Guys has supported over 440 startups and achieved multiple successful exits.
Sector focus: Software, IT, SaaS, AI, Financial Service
Round: Early Stage Venture, Seed
Total investments: 582
Founding Year: 2012
Notable Investments: Collabwriting, Monkee, Nymiz, Mistikist, Rendin
Superangel
Superangel is an early-stage VC fund based in the Baltics and Nordics, focusing on tech companies improving the world. They invest in pre-seed to seed rounds, typically between €300k and €1M. Their investment areas include AI, robotics, mobility, logistics, fintech, and SaaS. Superangel’s team, comprised of tech entrepreneurs, supports startups with their extensive experience and network, aiming for global impact and collaboration.
Sector focus: Software, IT, Transportation, AI, Robotics
Round: Early Stage Venture, Seed
Total investments: 64
Founding Year: 2018
Notable Investments: OTee, BeCause, Paul-Tech, Coalescent Mobile Robotics, Doublepoint
Specialist VC
Specialist VC is an early-stage venture capital firm based in Tallinn, focusing on investments across Estonia, Latvia, Lithuania, Finland, and Ukraine. They primarily invest in B2B, SaaS, fintech, and deep tech startups, offering ticket sizes from €250k to €3m. The firm is heavily backed by successful tech founders and experts, emphasizing partnerships and comprehensive support for its portfolio companies.
Sector focus: Software, IT, FinTech, E-commerce, AI, Hospitality, SaaS
Round: Early Stage Venture, Seed
Total investments: 48
Founding Year: 2017
Notable Investments: Supersimple, Kingdom Technologies, SensusQ, Biteful, Gearbox Biosciences
Tera Ventures
Tera Ventures is a venture capital firm based in Estonia, investing in early-stage digital startups across Europe. They focus on supporting companies with potential for global growth, with investments primarily in fintech, automation, and AI/ML sectors. The firm is known for its hands-on, founder-friendly approach, aiding startups through their growth stages and facilitating international expansion and collaborations.
Sector focus: Software, IT, E-commerce, AI, SaaS, FinTech
Round: Early Stage Venture, Seed
Total investments: 54
Founding Year: 2016
Notable Investments: 10Lines, Supersimple, Rendin, BotGuard, Cino
Change Ventures
Change Ventures is a venture capital firm that focuses on backing ambitious Baltic founders. They provide €100k to €750k in pre-seed and seed capital, alongside follow-on capital for later rounds. They prioritize investments in teams capable of building globally scalable businesses, with a deep network of later-stage investors and partners to support their growth. Their portfolio includes a variety of innovative companies across different sectors.
Sector focus: Software, IT, Apps, AI, Mobile, E-commerce
Round: Early Stage Venture, Seed
Total investments: 49
Founding Year: 2016
Notable Investments: Inspectle Food, Drovo, Monetizr, Algori, Formaloo