Financials
SmartCap investment activities are self-sustainable and we manage one venture capital fund-of-funds Early Fund II
At 31 December 2019, the Early Fund II assets stood at 84 million euros and our investment portfolio included two early-stage venture capital funds operating in Estonia.
In 2019, the government invested 10 million euros into Early Fund II to improve research and technology-intensive SME-s access to capital. In partnership with the Estonian startup community, research institutions and venture capital investors, SmartCap began to prepare for a new investment into deep tech fund, please read more here.
We channel the returns from our investments back into new investments. In 2019 we made no new investments.