News

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.

SmartCap appoints Riin Savi Chief People, Communication, and Sustainability Officer to back the organisational growth of the fund manager.

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.

Maido Lillemets, a legal professional with valuable experience in the financial and investment sectors, has joined SmartCap, Estonia’s national fund manager, as its new Head of Legal.

Matias Kaila, an experienced investment professional with over 20 years of expertise in leading venture capital and private equity investments in the Nordics, has joined the Supervisory Board of SmartCap, Estonia’s national fund manager.

SmartCap Defence Fund aims to increase and diversify capital supply to defence sector by investing in venture capital and private equity funds focused on military and dual-use technologies. With this goal in mind, we’re now looking for fund managers with already existing or soon to be established venture capital and private equity funds dedicated to defence industry.

SmartCap is extending the investment period of the Investment Programme for Green Technology Companies to support the continuing demand for capital among green technology start-ups. Investments will now continue until 30 June 2026.

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.

SmartCap held a market consultation presentation with a Q&A session for its upcoming fund investment programme from the SmartCap Defence Fund, offering an overview of key terms and criteria to prospective fund managers.

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).