News

SmartCap Defence Fund invests in the Estonian-Ukrainian defence technology company Farsight Vision to enable the developent its product in Estonia and expansion into international markets.

The European Investment Fund (EIF) and the national fund managers of Estonia, Latvia and Lithuania signed an agreement to establish a new €225 million Baltic Innovation Fund 3 (BIF 3) to strengthen the private equity and venture capital market in the Baltic region. EIF will commit €75 million to the fund, and each Baltic state will contribute €50 million. 

SmartCap has committed €25 million from the SmartCap Green Fund* to Taaleri SolarWind III Fund, a large-scale renewable energy infrastructure fund managed by Taaleri Energia. The fund focuses on the development, construction, and operation of onshore wind farms, solar parks, and battery energy storage assets across the Baltics, Nordics, Poland and select markets in broader Europe and the U.S. 

SmartCap Venture Capital Fund has invested €3 million in Nordic Science Investments I (NSI) – an early-stage VC fund bridging the gap between academia and business by investing in science-based startups that tackle global challenges. The fund is also backed by Finland’s state-owned investment company Tesi.

Sifted, the Financial Times’ portal covering European start-ups and venture capital markets, selected six Estonian investors and entrepreneurs among the 100 most influential women in the technology sector in Europe. 

SmartCap Venture Capital Fund has joined the closing of Siena Secondary Fund II as an anchor investor alongside the European Bank for Reconstruction and Development (EBRD), committing €10 million.

SmartCap Green Fund has invested in Norrsken Evolve Fund II – a newly launched €57 million pre-seed fund based in Stockholm that supports early-stage, impact-driven startups building Europe’s sustainable and resilient future.

SmartCap Defence Fund invests €10 million in Darkstar Ventures Fund I, the first dedicated pan-European venture capital fund focused on military and dual-use technologies tested on the battlefield in Ukraine. This represents an anchor investment for Darkstar and the first investment for SmartCap Defence Fund.   

SmartCap is stepping up its investments for greentech sector in Estonia by inviting venture capital and private equity fund managers with infrastructure strategy to fundraise from SmartCap Green Fund. The aim is to increase capital availability for companies developing and deploying breakthrough green technologies that contribute to the green transition and resilience.

Erik Punger has joined the team of Estonia’s state-owned fund manager SmartCap as Head of Compliance and Risk.

During the previous 12 months, SmartCap Green Fund invested in eight Estonian greentech companies: Stargate Hydrogen, Fractory, ÄIO, Gridio, Fusebox, Elcogen, UP Catalyst, and eAgronom, which address critical environmental challenges. Each of these companies exemplifies the fund’s focus on transformative environmental solutions with real-world impact, whether in biotechnology, critical materials, sustainable agriculture, or energy.

Marili Merendi, a Venture Capitalist turned Limited Partner, has joined SmartCap, Estonia’s national fund manager, as Investment Advisor for its fund-of-funds mandate.