Top VC Firms in Estonia

Invests primarily in early-stage healthtech and deeptech startups with breakthrough innovations, aiming to improve quality of life through transformative technologies.

Karma Ventures is a seed and early-stage venture capital firm backing European deep tech startups, typically investing in companies with unique intellectual property or technological advantages.

Scalewolf invests in dual-use technologies that strengthen national and allied resilience, focusing on energy, defense, and data sectors. It targets technologies with commercial and government demand across NATO and Europe, deploying capital to scale innovations with contract-backed demand.

We invest primarily in pre-seed and seed startups who transform Enterprise with AI and data, and make select Early Stage investments as followers.

Plural invests in companies aiming to have GDP-level impact on Europe, addressing systemic risks and reducing the opportunity gap worldwide. The firm backs serious founders willing to take big risks. Specific stages and sectors are not stated.

Change Ventures is a seed stage venture capital firm investing in Baltic founders building companies with global ambitions. They focus on B2B software, SaaS, fintech, and digital health.

We invest in early-stage consumer and community-driven startups across Europe and provide multi-round support to help founders build lasting growth.

Pinorena Capital invests primarily in early-stage fintech ventures across the European Union, Europe, the Middle East, and Africa.

Metaplanet is an early-stage investor with a focus on the Industry & Hardware sector. They primarily invest in companies based in Germany and Europe.

Specialist VC invests from Pre-seed to Series A and also does Secondaries in A+ stage. They mainly invest in B2B, SaaS, fintech, platforms, software enabled hardware and deep tech. They support founders from Estonia, Latvia, Lithuania, Finland and Ukraine.

Tera Ventures is an early-stage venture capital firm focusing on digital startups originating from Estonia, Scandinavia, and Eastern Europe. They target companies with the potential to scale globally, often investing in deep tech, B2B software, and digital services.

Ambient Sound Investments operates as a private asset management firm managing over 100 million euros of assets in around 40 companies located in Europe, US and Asia. The investments include venture capital, private equity, listed equity and real assets.

Barn Invest focuses on early to growth stage investments primarily in fintech and SaaS startups that leverage AI to transform business processes, aiming to accelerate innovation in European markets.

Thorgate Ventures is the seed stage venture capital arm of Thorgate, doing up to four hands-on investments per year, mostly into scalable B2B solutions.

EstBAN is a group of angel investors, entrepreneurs, and business leaders supporting early-stage startup investing in Estonia by providing financing, knowledge, and network.

Gentian Investments backs early-stage fintech and SaaS startups focused on innovative AI-powered solutions to disrupt traditional markets. They primarily invest in seed and Series A rounds across Estonia and the Baltics.

GameFounders invests in early-stage game studios primarily through accelerator and incubator programs. It focuses on developing game industry ecosystems in regions including Europe, Southeast Asia, and the Middle East.

2C Ventures invests in early-stage (pre-seed to Series A) clean technology startups focused on sectors including energy transition, circular economy, sustainable food and agriculture, climate and carbon, sustainable transportation, and resource efficiency. Their primary geographic focus is Northern Europe, with typical ticket sizes ranging from €250K to €1M.

Kaamos Group invests fixed profit shares in startups. The principle is to invest in early-stage companies whose innovative ideas could add future value to Kaamos's core businesses.

Green Flag Ventures is a venture capital fund investing in defense and dual-use technology from Ukraine and NATO’s eastern flank. They target early-stage companies at Technical Readiness Level (TRL) 5+ whose products are proven or being proven in Ukraine.

Cross Ocean Ventures invests globally with a strong focus on the United States and Europe. They invest in pre-seed, seed and Series A stages with selective participation in later-stage rounds, backing motivated founders solving hard, overlooked problems with category-defining solutions.