Defence Fund

Defence Fund

The objective of the SmartCap Defence Fund is to strengthen Estonia’s capital market by increasing access to investment opportunities for defence companies and attracting new private funds focused on defence and dual-use technologies.

Market Consultation

The market consultation phase for the investment programme for selecting defence investment funds will run from the 22nd of October to the 8th of November. The market consultation document is provided below. Please note that the final version of the main terms, published for the investment programme, may differ in whole or in part from this draft version shared for market consultation.

SmartCap will hold a market consultation presentation on 31 October 2024 for interested parties of the investment programme. To register for the event, please send your contact information to SmartCap at with the subject line “Investment programme for selecting defence investment funds – Market Consultation.” Registered participants relevant to the programme will receive event details by email.

If you have any questions or feedback regarding the Market Consultation document, please submit them in English to by the 8th of November, with the subject line “Investment programme for selecting defence investment funds – Market Consultation.” All questions and answers will be published on our website afterward.