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Government
Estonia

SmartCap

Investment focus

Sectors

Deeptech
Cleantech
Defence

Investment stages

Pre-seed
Seed
Series A

Geographic focus

Estonia
Baltics
Europe

Investment thesis

Estonia's state-owned fund manager operating as fund-of-funds and direct investor to develop the Estonian venture ecosystem, with dedicated Green (€100M) and Defence (€100M) funds for direct investments.

Typical check size

€2M – €20M

Fund size: €375M AUM across VC, Green, and Defence funds

Browse similar check sizes →

Portfolio highlights

Elcogen - solid oxide fuel cell and electrolyser technology
Vok Bikes - electric cargo bikes for sustainable last-mile delivery
eAgronom - carbon farming and crop management software

Contact

smartcap.ee
Estonia

Research with AI

Learn more about SmartCap using AI:

Ask ChatGPTAsk Perplexity

Pitch guides

Learn what SmartCap and similar investors look for:

Cleantech pitch guide

More investors in Estonia

Change VenturesHoney Badger CapitalKarma VenturesMetaplanetView all in Estonia

Related resources

Pre-seed fundraising guidePre-seed pitch deck guideSeed fundraising guideSeed pitch deck guideSeries A fundraising guideSeries A pitch deck guide
Fundraising in Estonia

Tips, programs, and cultural notes

More Deeptech investors

360 Capital55 North8VCACT Venture CapitalView all Deeptech investors