SmartCap Green Fund Direct Investment Programme

SmartCap Green Fund’s mission is to supercharge the supply of venture capital to Estonian Greentech 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.

A Greentech company is a fit for Green Fund if it meets two criteria.

1. The company develops innovative and/or research-intensive technology.
2. The developed technology contributes to one or more of the following objectives:

• climate change mitigation
• climate change adaptation
• the sustainable use and protection of water and marine resources
• the transition to a circular economy
• pollution prevention and control
• the protection and restoration of biodiversity and ecosystems

From the Green Fund, we invest under the following factors:

• SmartCap Green Fund participates in an investment round on equal terms with other independent private investors, where the participation of private capital investors is at least 50% of the round
• Investments will be made as equity or convertible instruments in green technology companies established and operating in Estonia

• SmartCap may initially participate in investment rounds from seed up to expansion stage funding

• SmartCap’s commitment size of one investment ranges from €500,000 to €5,000,000. The investment period for Green Fund Direct Investments closes at the end of 2024

Investment proposals

Ready to submit an investment proposal for SmartCap’s Green Fund?

Submitted the form set out in GTIP with the appropriate appendices and other required documents. You can find the requirements for submitting an investment proposal above.

Need clarifications?

If you’re a startup with questions about SmartCap’s Green Fund direct investments, check out the clarification documents below. If that doesn’t cover it, please let us know!

Send an email to   in English. To make sure we get you to the right SmartCap team member use the following subject line: Clarifications – Green Tech Investment Programme 2022/10.

SmartCap Green Fund is financed by the European Union NextGenerationEU Recovery and Resilience Facility funds.