With a local focus and a global vision, SmartCap cultivates a venture capital market that nurtures innovation in Estonia.
117
portfolio companies
€1.32B
revenue created
3200
jobs created
€70M
of tax income
Through our Venture Capital Fund, we strengthen the local capital market and grow innovative Estonian companies.
SmartCap Venture Capital Fund invests in VC funds that focus on Estonia, or have a meaningful value-add to the Estonian venture capital ecosystem. In either case, it’s important to us that they contribute to local capital market development.
Net value ~€176 million Invested primarily through private venture capital funds
VC funds investing in startups from pre-seed to scale-up stage
Evergreen
This fund operates both as a fund-of-funds and as a direct investor in innovative — and often research-intensive — green technology companies.
The fund’s primary objective? Backing early-stage Estonian Greentech innovators with high growth potential. Think of companies in energy, agriculture, food, transport, logistics, materials, chemicals, and the environment.
Increase the amount of financial capital available to Greentech companies
Fund size is €100M, invested through private venture capital funds and by direct investments into green technology companies
Seed stage • Early stage • Growth stage
2022 - 2026
Better access to equity funding for Estonian Greentech companies
SmartCap Green Fund aligns with “Estonia 2035” goals and supports the environmental objectives in Article 9 of the Taxonomy Regulation.
Our Defence Fund is dedicated to strengthening Estonia’s defence industry by supporting the development of innovative technologies and backing high-potential defence producers that contribute to national security.
The primary goal of the fund is to support innovation and growth in Estonia’s defence sector while generating significant economic impact. We achieve this by investing in companies that develop or produce military and dual-use products and technologies, as well as private funds focused on respective defence companies within Estonia or NATO member states, provided they add meaningful value to Estonia’s defence ecosystem.
Fund size €100M, invested through private funds and direct investments into defence companies.
Seed and early stage to traditional growth companies • Private funds investing in defence and dual-use technologies
Evergreen
