Mari Kuhi, a former board member at Tuleva with extensive experience in the financial sector, has joined the executive board of Estonia’s state-owned fund manager, SmartCap, as its new Chief Operating Officer (COO).
“Ambitious goals require a strong team. I’m delighted to welcome Mari Kuhi to our board. With her experience in building and leading operations in asset management, Mari brings invaluable expertise to SmartCap. We’re reaching a stage in our growth where SmartCap is preparing to manage three actively investing funds: the SmartCap Venture Capital Fund, the Green Fund, and the soon-to-be-launched Defense Fund. Our aim is to further develop Estonia’s capital markets and improve access to equity investments, so that innovative Estonian companies can grow internationally, speed up the green transition, and strengthen the local defense industry. Mari’s key responsibilities will include building a high-performing team, optimizing processes, and aligning our strategy to meet the evolving demands of our existing and new investment funds,” said SmartCap CEO Sille Pettai.
According to Mari Kuhi, SmartCap’s role in the financial sector is unique due to its broader mission. “SmartCap’s mission extends beyond generating returns for investors. As a state-owned fund management company, it plays a key role in developing Estonia’s capital market and ensuring that start-ups receive financing, even in challenging economic conditions. It is an important time to join the team, as SmartCap is also beginning to contribute to Estonia’s national security efforts,” Kuhi said.
Before joining SmartCap, Mari worked as the CFO of Hepsor AS and was the head of operations at Tuleva, a pension fund management company. She also has significant experience in financial auditing at PricewaterhouseCoopers. Mari holds a bachelor’s degree in electronics from TalTech and a master’s degree in business administration from TalTech.
SmartCap is a small fund management company, a subsidiary of Estonian Business and Innovation Agency, registered with the Estonian Financial Supervision Authority and managing the SmartCap Venture Capital Fund and SmartCap Green Fund. The SmartCap Green Fund is financed by the European Union NextGenerationEU Recovery and Resilience Facility funds.