SmartCap manages SmartCap Venture Capital and SmartCap Green Fund
Funds under management are closed-ended alternative investment funds and operate as fund-of-funds according to their strategy. The sole unitholder of both funds is the Republic of Estonia. Financial supervision over the funds is carried out by the Estonian Financial Supervision and Resolution Authority.
SmartCap Venture Capital Fund
The primary objective of SmartCap Venture Capital Fund is to grow the value of its assets over time, thereby also contributing substantially to the development of the Estonian capital market.
For that purpose, the Fund does investments mainly into private equity and venture capital funds with Estonian focus that develop innovative Estonian companies with global growth potential and, thereby, support changes that help to modernise Estonian economy.
If necessary, the Fund may also invest into international private equity and venture capital funds whose investment strategy has a substantial value add for the ecosystem of innovative Estonian companies with global growth potential.
Our active calls aimed at venture capital funds can be found here. For investment inquiries, please write a note to .
SmartCap Venture Capital Fund net value is 70 million euros (as of 31.12.2021). In the portfolio, there are three early stage VC funds from Estonia – Tera Ventures I, Superangel One and Superangel Two. The portfolio includes also investments into Startup Wise Guys batches 1-7 and health-tech startup SelfDiagnostics.
SmartCap Green Fund
The primary objective of SmartCap Green Fund is to grow the assets of the Fund by making investments in companies that create technological breakthroughs to solve environmental problems and achieve a climate-neutral circular economy, and thereby also contribute to the development of the local capital market and business environment.
SmartCap Green Fund creates the supply of capital to develop new green technologies in strategic areas (energy, agriculture, food industry, transport and logistics, material and chemical industry, and the environment) and thereby finances innovative and/or research-intensive green technology companies the activities of which contribute to climate-neutral economy, improving resilience to climate change, solving environmental problems or the development and introduction of new products, services or technologies which reduce or sequester greenhouse gas emissions.
SmartCap Green Fund’s assets will be invested primarily through venture capital funds and also directly into companies. Our active calls aimed at venture capital funds can be found here and investment programmes for companies can be found here. For investment inquiries, please write a note to .
Green technology companies eligible for investments from SmartCap Green Fund shall meet both of the following criteria:
- the company develops innovative and/or research-intensive technologies,
- such technology contributes to achieving at least one of the following environmental objectives:
- climate change mitigation,
- climate change adaptation,
- the sustainable use and protection of water and marine resources,
- the transition to a circular economy,
- pollution prevention and control,
- the protection and restoration of biodiversity and ecosystem.
Green Fund’s – a fund with a total size of 100 million euros – equity investments, including investments through dedicated funds as well as direct investments, are scheduled to be undertaken until the end of 2026.
SmartCap Green Fund is financed by the European Union NextGenerationEU Recovery and Resilience Facility funds.