Venture Capital Fund

SmartCap Venture Capital Fund: modernising Estonia’s economy

SmartCap Venture Capital Fund invests in VC funds that focus on Estonia or have a meaningful value-add to the Estonian venture capital ecosystem. In either case, it’s important to us that they contribute to local capital market development.

Venture Capital Fund VC criteria

Because we’re committed to developing Estonia’s capital market landscape, this fund is for VCs with a strong Estonian presence or a strong Estonian portfolio. Funds can be managed by first-timers, emerging talent, or established leaders.

We may consider international venture capital funds, if there is demonstrated value-add to the Estonian venture capital ecosystem or to local capital market development.

SmartCap Venture Capital Fund’s main investment objectives are to:

  • diversify and increase capital supply to innovative Estonian companies with high international growth potential
  • engage private investors and provide access to the Estonian venture capital market
  • complement the Estonian capital market and meet the specific needs of companies with relevant competence and experience
  • ensure implementation of the best market practices to increase the global competitiveness of Estonian companies
  • boost Estonian capital market development and resilience
  • contribute to strategic goals

SmartCap follows a holistic assessment from sourcing to signing. Throughout the investment process will consider the following:

  • Responsible investment strategy
  • Team profile and track record
  • Team expertise, competencies, and capacity
  • Market fit and competitive advantage
  • Value-add
  • Dealflow and pipeline
  • Fund terms and conditions
  • Fundraising status and outlook

We make our investments together and on equal terms with private investors. Our investment commitment per venture capital fund starts from €2 million.

See our Investment Process and Responsible Investing sections, to learn more about our approach to investing.

Are you a fund manager seeking investment from SmartCap Venture Capital Fund?

Reach out to our investment team at