Deep Tech Fund 2020/12

SmartCap invites private fund managers to submit an Expression of Interest for establishing and managing a deep tech investment fund.

SmartCap has launched a Call for Expressions of Interest (Call) to select a private fund manager for establishing and managing a new deep tech investment fund, to which Early Fund II, a venture capital fund-of-funds managed by SmartCap will make a cornerstone investment in the amount of 15 million euros.

The principal purpose of the Call is to increase the availability of venture capital for early-stage privately held non-listed SMEs established or operating in Estonia, which meet both of the following criteria (i.e., deep tech companies):

  1. the product or service is based on scientific advancement and development or meaningful engineering innovation; and
  2. the product or service development is based on or results in commercializable intellectual property.

The fund shall be managed with the aim to maximise the return for the investors. In addition, the investments made by the fund should target to support changes in the Estonian economy by helping to modernize the economy, ensure export growth and create new high value-added jobs.

The applicants may submit requests for clarification regarding the Call. Requests for clarification shall not receive individual replies, answers to requests received on deadline 1 February 2021 that are relevant to the Call and to all applicants shall be published in one or several clarification document(s) on this websiteRequests need to be sent in English via email to , the subject field of the email shall indicate the Clarifications – Deep Tech Fund 2020/12”.

1 March 2021 - deadline for Expression of Interest

The applicants interested in participating in the Call shall submit an EoI complying with the requirements set out in the Call via email to .

The subject field of the email shall indicate: Expression of Interest – Deep Tech Fund 2020/12 – [name of the Applicant]. To be read only by duly Authorised Persons representing AS SmartCap”.