SmartCap provides cornerstone investments for private fund managers to create a vital venture capital market in Estonia and enable ambitious and innovative Estonian companies to emerge and grow globally.

SmartCap is a small fund manager established in 2011 operating under an activity licence issued by the Estonian Financial Supervision Authority. SmartCap is a subsidiary of Estonian Business and Innovation Agency (after the merger of Foundation KredEx and Enterprise Estonia from January 2022).

SmartCap manages a common closed-end alternative investment fund SmartCap Venture Capital Fund (VC) that operates as a venture capital fund-of-funds according to its strategy. The sole unitholder of VC is the Republic of Estonia.

SmartCap has began preparations for the establishment of a new public investment fund, the GreenFund, which aims to invest in businesses that create green technologies in order to solve environmental issues and achieve a climate-neutral and circular economy.

The new investment fund, which also contributes to the development of the Estonian capital market and thus more broadly the local business environment, is a part of the European recovery plan. In 2022-2026, it is planned to provide equity investments in the amount of 100 million euros through the SmartCap GreenFund within the framework of the recovery and resilience plan, to which the contribution of private funds is to be added.

SmartCap’s mission is to drive the development and growth of Estonian venture capital market by being a committed cornerstone investor in venture capital funds, addressing identified market gaps and investing through different economic cycles. VCF assets are invested in Estonian venture capital funds that invest together with other private investors in early-stage research and technology-intensive micro, small and medium-sized enterprises with strong international growth potential.

 

The Management Board of SmartCap has two members: Sille Pettai and Mari Vavulski.

The Supervisory Board has four members: Priit Põldoja (Chairman), Ivo Kuldmäe, Viljar Lubi and Mikko-Jussi Suonenlahti.