# Top 25 Construction Startup Investors in Estonia in June 2026

## Thorgate Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, SaaS, FinTech

We invest both capital and our know-how into startups. Join us and let's change the world

## Sunly
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Solar, CleanTech, Rental

Sunly, a renewable energy company, is active in the Baltics and surrounding markets. Sunly is developing renewable energy projects through Sunly Infra and manages a renewable energy and electrification portfolio of start-ups through Sunly Startup.

## Superangel
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Artificial Intelligence, Software, Information Technology

Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io

## Markus Villig
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Angel
- Focus: Software, Information Technology, FinTech

Markus Villig is founder and CEO of Taxify. He attended University of Tartu.

## Lemonade Stand
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Software, Artificial Intelligence, FinTech

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

## Martin Tajur
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Pre-Seed, Seed, Angel
- Focus: Software, SaaS, Recruiting

Martin Tajur is the co-founder of Pipedrive.

## Carmen Alfonso Rico
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Pre-Seed, Seed
- Focus: Software, Information Technology, Gaming

Lucky friend, family girl. Always chasing the “why” and “so what” of everything. Food explorer. Book lover. My Spotify running playlist is embarrassing. Obsessed with the power of communities and looking for #customerlove in the weirdest places. Lawyer and economist, previously @MorganStanley, @FelixCapital. Launched a D2C brand from my living room(RIP). From Spain but call London home. I collect exotic stamps on my passport.

## Zenith Family Office
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: SaaS, Commercial Real Estate, B2B

Independent wealth management company devoted to handling the investments and personal needs of wealthy individuals

## Toomas Bergmann
- Type: Angel
- Relevant deals: 1
- Stages: Seed, Angel
- Focus: Hardware, Mobile Apps, Construction

Toomas Bergmann

## Anthony Danon
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: FinTech, Financial Services, Apps

Anthony Danon is based out of London, England, and is the Founder of Rerail. Anthony previously worked at Hedosophia as a Venture Partner. Anthony Danon attended the University of Cambridge.

## Hansa Group
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed
- Focus: Hardware, Construction, Machine Learning

Maailm liigub - The world is moving

## Amalfi Capital
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Beauty, Battery, Medical

International Technology Investment Fund

## Magnus Hiie
- Type: Angel
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: SaaS, Software, Construction

Magnus Hiie - Member @ Founders Pledge

## Martin Villing
- Type: Angel
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: SaaS, Software, Construction

Martin Villing is the co-founder of Bolt.

## Spring Capital
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, SaaS, E-Commerce

Investments in exceptional teams in the Baltics & Nordics.Our two main focuses include: 1. Startups with a technological edge. Seed stage. Our check size is from €50K up to €200K. With a vast experience in startup building, we typically get hands-on with our advice and help the founders achieve operational excellence. 2. Innovators oftraditional sectors. SMEs with a proven track and strong market position. Clear plans to accelerate the growth. Our investment ticket can be from €300K to €700K to support these aspirations. If you think we have a match, reach out through invest@springcapital.ee.

## Gonzalo Manrique
- Type: Angel
- Location: Madrid, Madrid, Spain
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, Recruiting, Information Technology

Gonzalo Manrique is Co-Founder and Co-CEO at IronHack.

## Triin Hertmann
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: FinTech, Software, E-Commerce

Triin Hertmann is founder of Grünfin, a sustainable investment platform, angel investor (mostly in Estonia and Nordics region). She is a former COO at TransferWise and early employee of Skype.

## Declan Kelly
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, FinTech

Founder of Foreword.vc, an early-stage micro fund backing startups throughout their initial chapters. Also advisor at Web Summit and EiR at Seedcamp. 
Previously covering Europe for Techstars Ventures and founding member of Web Summits venture fund, Amaranthine.

## Foreword Fund
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, FinTech, Information Technology

Foreword Ventures is an early-stage micro fund backing startups throughout their initial chapters. Foreword commits to adding value far beyond the small checks they write by devoting time, reputation, and capital to clients' success. Foreword typically invests in the pre-seed and seed stages, but can also invest in Series A and beyond whenthere is an existing relationship with the founder or co-investor.

## Sillever OÜ
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Hardware, Construction, Machine Learning

Sillever OÜ operates as an investment firm.

## Foundamental
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Construction, Software, Real Estate

Foundamental is the first partner to exceptional founders re-creating the real world globally

## Indrek Kasela
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Angel
- Focus: Software, Information Technology, B2B

Indrek Kasela - investor @ Luup Culture

## Passion Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, FinTech, Financial Services

Passion Capital is a partnership of entrepreneurs and operators who are applying our experiences to helping founders and early-stage teams build great digital media/technology companies. We are committed to fostering an ecosystem of technology, collaboration and executional excellence in Europe, and we believe that the criticaldifferentiator and key asset of a successful business is the passion and ability of its founders. We take pride in the calibre and success of all of our founders and teams including but nowhere near limited to GoCardless, Tray.io, Mendeley, Digital Shadows, Adzuna, Smarkets, Ravelin, Tide, Marshmallow, Butternut Box, PolyAI, Lendable and Monzo Bank

## Change Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Apps

We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world.

## Andreas Klinger
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, SaaS

Hello, my name is Andreas Klinger.I am leading the eng team @ On Deck (beondeck.com). Previously I led things related to eng, product & remote @ producthunt.com, angel.co and coinlist.co. If you want to reach me please use twitter @andreasklinger

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