News

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).

For the first time in its history, SmartCap is opening its doors to an ambitious intern who wants to learn more about the Estonian venture capital market.

We are looking for a Legal Counsel to join our rapidly growing team and help us take the Estonian VC market to new heights.

SmartCap Venture Capital Fund invests €5 million in Antler Nordic Fund II, further strengthening its commitment to early-stage startups and innovative tech investment strategies.

SmartCap Venture Capital Fund has made its first investment since updating its strategy at the end of last year, committing €10 million to Plural Fund II. The fund, led by seasoned operators including the co-founder of Wise, closed at €500 million.

SmartCap updated the terms of the Green Fund Direct Investment Programme, which focuses on green technology start-ups. The changes increase the maximum amount of investment in a single company and shift the focus to start-ups that have reached maturity to invest in their growth and international expansion.

Commissioned by SmartCap, at the end of 2023 EY conducted a study to identify internationally recognized deep-tech business accelerators, compare them, as well as analyse critical elements of their success and activities offered to startups after completing the acceleration program. The results of the study contribute to the development of the Estonian ecosystem.

Through its “Greentech Fund 2022/09” as an anchor investor SmartCap Green Fund is investing 20 million euros in 2C Ventures, Estonia’s first investment fund focusing on clean technologies. The 2C Ventures fund with a total size of 50 million euros, aims to improve capital accessibility for startups developing clean economy technologies of the future.

Kaari Kink, the Head of Investments at the venture capital fund Superangel, has been elected as the new Chairman of the board of the Estonian Private Equity and Venture Capital Association (EstVCA). The new board will continue to develop the organisation and PE/VC market for the period of 2023-2025. Among others, SmartCap’s board member, Sille Pettai, is part of the new board.

In late November, Minister of Defense Hanno Pevkur awarded the Ministry of Defense’s Badge of Merit to SmartCap’s board member and fund manager, Sille Pettai, for her significant contribution to the establishment of the NATO Innovation Fund (NIF).