Kristjan-Mart Piirsalu joins SmartCap
Kristjan-Mart Piirsalu, an experienced investment manager formerly with BaltCap, has joined SmartCap, Estonia’s national fund manager, to oversee investments for the newly established Defence Fund.
“As SmartCap Defence Fund is going to be stage agnostic, we are strenghtening our team and bringing Kristjan-Mart Piirsalu on board with his private equity deal structuring and strategic value creation experience as key capabilities for SmartCap. Kristjan-Mart brings also valuable expertise in corporate finance, M&A and transaction advisory to SmartCap, which will have an important role in expanding SmartCap’s existing investment mandate for SmartCap Defence Fund. He is a highly valued investment manager in the field who is going to lead SmartCap Defence Fund investments in more established companies with strong international growth and export potential, but also greenfield projects,” said Sille Pettai, CEO of SmartCap.
According to Kristjan-Mart Piirsalu, the role offers a unique opportunity to contribute to strengthening the security of Estonia and NATO allies, as well as to the development of Estonian defence industry. “SmartCap’s Defence Fund stands out with a clear and ambitious goal — to support Estonia’s security, promote the development of the defence industry, and contribute to innovation and economic growth. Beyond its strategic purpose, the fund offers a unique professional challenge, being the first in Estonia and the largest in our region to focus on military and dual-use technologies,” he said.
Prior to joining SmartCap, Piirsalu served as an investment manager at BaltCap, where he was instrumental in acquisitions such as Rahva Raamat, Hansab, and Fitek. He also serves on the advisory board of Viru Elektrivõrgud and has held financial advisory roles at KPMG and LHV Asset Management.
SmartCap is a subsidiary of the Entrepreneurship and Innovation Foundation and a small fund manager registered with the Financial Supervisory Authority, managing the SmartCap Venture Capital Fund, the SmartCap Rough Fund and the soon-to-be-launched Protection Fund. The SmartCap Rough Fund is funded by the European Union through the NextGenerationEU (RRF) Restructuring Fund.