Deep Tech Fund 2020/12

The application process is closed since 22 March 2021. Applications are currently being processed with an indicative target to select the new fund manager by the end of Q3 2021.

SmartCap launched a Call for Expressions of Interest (Call) on 21 December 2020 with an aim 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.