SmartCap is one of the investors in the Superangel accelerator fund
SmartCap selected the winner in the accelerator procurement: it is the joint tender submitted by Mobi Solutions OÜ and Astrec Baltic OÜ. As a result, the Superangel investment fund has been established. The fund managed by entrepreneurs Veljo Otsason, Rain Rannu and Marek Kiisa is commencing operations with 12 million euros, aiming to achieve its final capacity of 20 million within the first year. SmartCap is to invest 4.2 million euros in this fund.
Superangel is an early-stage investment fund, with its team investing both capital and time to help with the creation and development of new startups in the field of technology. The average general investment duration of this fund is 7 years. Each investment is initiated at an early stage but there are also follow-up investments planned so the total investment in one company is between 50,000 and 1.5 million euros, whereas the fund’s first investment is between 50,000 and 200,000 euros.
The fund has offices both in Estonia and in the heart of Silicon Valley, in Palo Alto. Investments will be made in enterprises at early stages of development across the globe, with preference given to companies with Estonian connections and with founders who are keen on achieving global success.
The Superangel fund team has an impressive array of specific experience and an excellent international cooperation network. Veljo Otsason, Rain Rannu and Marek Kiisa have already proved their ability to involve international investor capital and invest in enterprises with international expansion potential.
Veljo Otsason and Rain Rannu are the co-founders of the international company Fortumo, which offers mobile payment solutions. They both have experience with venture capital investment involvement and global market entry. Furthermore, they are both accomplished business angels, having participated in about 15 startups that include Pipedrive and Taxify. Marek Kiisa is a remarkable business angel who won the Estonian Business Angels Network’s title of Business Angel of the Year in 2014. He was one of the first investors in GrabCAD: in 2014 that company was sold to Stratasys, a major manufacturer of 3D printers. It was one of the largest venture capital transactions in Estonia.
SmartCap has invested in to the Superangel fund as a result of the accelerator procurement. The aim of the procurement was to invest money from the government venture capital fund managed by SmartCap in no more than two venture capital funds providing acceleration services (accelerator funds), up to 4.2 million euros per fund. That is supplemented with the accelerator services fee of up to 1.4 million euros per fund, which is drawn from the structural funds of the European Union.
For over a year SmartCap has been rearranging its investment activities, in the course of which its managed venture capital fund called Early Fund II switched over to the fund of funds model, i.e. it now invests in other investment funds along with private investors. The investment in the Superangel fund is part of SmartCap’s new strategy that focuses on venture capital investments in startups via privately managed funds established by entrepreneurs with extensive international experience.
For further information please contact:
SmartCap, Management Board member
+372 523 1675