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SmartCap’s mission is to develop Estonia’s venture capital market, invest through economic cycles, and address identified market gaps. SmartCap manages three funds – the Green Fund, the Venture Capital Fund and the Defence Fund – with approximately €455 million in assets under management.

SmartCap Green Fund improves capital availability for tech companies that develop green technologies and contribute to the green transition. The Venture Capital Fund invests in funds with an Estonian focus or those that add significant value to the local venture capital ecosystem. The Defence Fund strengthens Estonia’s defence industry, and drives economic growth by increasing capital availability for companies developing military or dual-use products and technologies.

“The CEO of SmartCap takes on a rare, high-impact role at the intersection of national economic strategy and private capital markets. This is a market-shaping position that will directly influence the maturity of Estonia’s investment ecosystem and influence Estonia’s economy for years and decades to come. We are looking for someone who can bridge the worlds of public policy and private capital, and scale the portfolio that is soon growing to over 500 million euros,” said Kärt Siilats, Chair of SmartCap’s Supervisory Board.

What are we looking for?

• Track record of leading organizations or significant business units through growth and transformation.
• Expert understanding of private capital markets, capital allocation, and portfolio-level risk. Investment track record involving Limited Partnerships and end-to-end deal sourcing/exits.
• Ability to define, track, and transparently report investment performance metrics while evaluating and managing illiquid investments, including but not limited to, investments with social or strategic impact elements.
• Deep familiarity with operating in environments involving public ownership, complex regulatory frameworks, and political sensitivity.
• Ability to build investment cases, justify capital allocation to government stakeholders, and shape public-sector decision-making.
• Exposure to international investment environments and EU-level funding frameworks is highly advantageous.

Key Focus Areas

• Lead the execution of SmartCap’s investment strategy investing into venture capital and private equity funds and fund of funds like Baltic Innovation Fund as a Limited Partner and invest directly into companies, balancing alignment with national priorities with strict return expectations.
• Oversee end-to-end investment activities, maintaining robust governance, risk management, and value creation post-investment.
• Navigate a highly complex stakeholder landscape, bridging the gap between public sector owners (Ministry of Economic Affairs and Communications, Enterprise Estonia) and private sector actors (GPs, institutional investors).
• Lead a high-performing, agile team. Build the operational and compliance capabilities required to scale the investment platform within a Financial Supervision Authority (FSA) regulated environment.

If you are interested in the role of CEO at SmartCap, let us know here! The application period is open until we find the right candidate.