# Top 50 Enterprise Startup Investors in Estonia in June 2026 ## Icebreaker.vc - Type: VC Fund - Location: Helsinki, Southern Finland, Finland - Relevant deals: 17 - Stages: Pre-Seed, Seed, Series A - Focus: Software, Information Technology, Artificial Intelligence Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms. ## Specialist VC - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 17 - Stages: Seed, Pre-Seed - Focus: Software, Information Technology, Artificial Intelligence United Angels VC is an early stage venture capital fund based in Estonia. ## Tera Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 14 - Stages: Seed, Series A, Pre-Seed - Focus: Software, E-Commerce, Artificial Intelligence Tera Ventures is an international investment firm based in Estonia. ## Change Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 13 - 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. ## Kristjan Vilosius - Type: Angel - Relevant deals: 9 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Information Technology, E-Commerce Kristjan Vilosius - Co-Founder and CEO @ Katana ## Lemonade Stand - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 9 - 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. ## Markus Villig - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 8 - Stages: Seed, Pre-Seed, Angel - Focus: Software, Information Technology, FinTech Markus Villig is founder and CEO of Taxify. He attended University of Tartu. ## Prototron - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 8 - Stages: Pre-Seed, Grant, Seed - Focus: Software, Manufacturing, Internet of Things Prototron is a start-up fund that gives money to teams for turning their great ideas into the first working prototype. Founded in 2012 by Swedbank, Tallinn Technical University and Tallinn Science Park Tehnopol. We finance teams with high growth potential in areas of Greentech, Electronics, Mechatronics and ICT. We run 3-4 rounds of financingevery year. During last 5 years we've funded 58 startups with over 470'000€ in cash + coaching/incubation services. Our protfolio has generated >4,5 M€ revenue and raised >17'000'000€ capital. These results make Prototron the most productive pre-seed fund in Estonia. Do you want to be part of the success? We seek for: *) New start-up teams who need money for building a prototype. Apply for funding: www.prototron.ee *) Additional partners who want to be part of Estonia's next success stories. ## Jaan Tallinn - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 8 - Stages: Seed, Series A - Focus: Software, Artificial Intelligence, Internet Jaan Tallinn is the Co-Founder of the Centre for Study of Existential Risk and Future of Life Institute. ## Ragnar Sass - Type: Angel - Relevant deals: 7 - Stages: Seed, Pre-Seed - Focus: Information Technology, Software, SaaS Ragnar Sass is the Co-Founder of Darkstar Camp. He previously worked at LIFT99 as a Founder and CEO. Ragnar Sass attended Estonian Business School. ## Thorgate Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 7 - 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 ## Sten Tamkivi - Type: Angel - Location: San Francisco, California, United States - Relevant deals: 6 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Artificial Intelligence, Manufacturing Sten Tamkivi is the Chief Product Officer at Topia (formerly MOVE Guides). He was previously co-founder and CEO of Teleport (acquired by Topia), the place to scout for startup people. He co-founded the company as an EIR at Andreessen Horowitz.Sten has been a tech entrepreneur since 1996. After founding a few companies in Estonia, he joined Skypeas an early executive, ran the original R&D office, and held several global product leadership roles for 8+ years.He has an MS in Management from Stanford GSB. ## Superangel - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 6 - 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 ## Taavet Hinrikus - Type: Angel - Location: London, England, United Kingdom - Relevant deals: 5 - Stages: Seed, Series A, Series B - Focus: FinTech, Software, Financial Services Taavet Hinrikus is based out of London, England and is the Partner of Plural Platform and Board Member of CoMind. Taavet previously worked at Wise as a Chairman and Co-founder. Taavet Hinrikus attended INSEAD. ## BADideas.fund - Type: VC Fund - Relevant deals: 5 - Stages: Pre-Seed, Seed, Grant - Focus: Software, Information Technology, Artificial Intelligence BADideas.fund backs bold founders from the Baltics and CEE with fast, founder-friendly funding. Led by a community of unicorn builders, we support early-stage B2B and marketplace startups with global ambition. ## Earlybird Venture Capital - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 5 - Stages: Series A, Seed, Series B - Focus: Software, Information Technology, Artificial Intelligence Founded in 1997, Earlybird is a pan-European VC investor backing tech-enabled companies and investing in their growth and development. Funds include Earlybird, Earlybird Health, Growth Opportunities. ## Gorilla Capital - Type: VC Fund - Location: Helsinki, Southern Finland, Finland - Relevant deals: 5 - Stages: Pre-Seed, Seed, Series A - Focus: Software, SaaS, Information Technology Gorilla Capital helps ambitious startups grow with smart funding and support. Discover how our team invests in early-stage companies. ## Karma Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 4 - Stages: Series A, Seed, Series B - Focus: Software, Artificial Intelligence, FinTech karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe. ## Martin Henk - Type: Angel - Location: San Francisco, California, United States - Relevant deals: 4 - Stages: Pre-Seed, Seed, Angel - Focus: Software, SaaS, Information Technology Martin Henk is the Co-founder of Pipedrive. ## Spring Capital - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 4 - 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. ## LIFT99 - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 4 - Stages: Pre-Seed, Seed, Series A - Focus: Software, Information Technology, Legal LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world. ## Ahti Heinla - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 4 - Stages: Seed, Angel, Series A - Focus: Apps, Internet, Software Ahti is the CEO, CTO and co-founder in Starship Technologies, a startup that intends to disrupt last-mile delivery by introducing self-driving local delivery robots. He is also a co-owner in Ambient Sound Investments, a private investment vehicle launched by Estonian Skype co-founders.Ahti conducts technical reviews of all ASI's potentialinvestments. His experience and knowledge as a system architect is invaluable in assessing and managing ASI's portfolio companies.Ahti picked up programming at the early age of ten, his fascination with all things technical resulting in him being the lead technical architect at Skype. Ahti has also worked on artificial intelligence, 3D graphics engines, signal processing, and building mobile phones.Out of the office, Ahti dons his running gear to enjoy orienteering and adventure racing events, where navigation is his strong-point. ## TMT Investments - Type: VC Fund - Location: St. Helier, NA - Jersey, Jersey - Relevant deals: 4 - Stages: Seed, Series A - Focus: Software, SaaS, Social Media TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 65 companies to date. The Company’s objective is to generate an attractive rate of return for shareholders,predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com. ## Kaarel Kotkas - Type: Angel - Relevant deals: 4 - Stages: Seed, Series A, Angel - Focus: Software, Gaming, 3D Technology Kaarel Kotkas is a Co-Founder and CEO at Veriff. ## Martin Tajur - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 3 - Stages: Pre-Seed, Seed, Angel - Focus: Software, SaaS, Recruiting Martin Tajur is the co-founder of Pipedrive. ## The Spartan Group - Type: VC Fund - Location: Singapore, Central Region, Singapore - Relevant deals: 3 - Stages: Seed, Series A - Focus: Blockchain, Cryptocurrency, Software We advise, invest and build with the best entrepreneurs in Web3. ## Expansion Capital - Type: VC Fund - Location: Riga, Riga, Latvia - Relevant deals: 3 - Stages: Seed, Debt Financing - Focus: Manufacturing, Logistics, Transportation Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies. ## hi VC - Type: Angel - Relevant deals: 3 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, Information Technology hi VC ## Contrarian Ventures - Type: VC Fund - Location: Vilnius, Vilniaus Apskritis, Lithuania - Relevant deals: 3 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Renewable Energy, Energy We are a hands-on, community-focused and founders vetted early-stage sustainable energy transition focused VC in Europe & Israel ## Oliver Ahlberg - Type: Angel - Relevant deals: 3 - Stages: Seed, Angel - Focus: Software, Information Technology, Artificial Intelligence Oliver Ahlberg is the Co-Founder and Chief Operating Officer of Skeleton Technologies. He has assured excellent operational capabilities and played a critical role in the development of internal procedures which have kept the company on the forefront of energy storage development. He has had an integral role in securing VC funding and settingup the company's R&D Center in Estonia. Additionally he plays a central role in the company's IT capabilities, production systems and processes and daily administration of the company. Leading the pilot production of the company, he also offers input in product development and has led production optimization efforts. Oliver Ahlberg has previously worked in the IT and law sector in San Fransisco, USA and Tallinn, Estonia. He has co-founded digital media company Vigvam Studio and a daily deals site acquired by the market leader in 2010. Oliver Ahlberg has earned a law degree from University of Tartu. ## Trind Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 3 - Stages: Seed, Series A - Focus: Software, Information Technology, SaaS Trind VC is a founder-first venture capital firm investing in early-stage consumer startups across Europe. We back ambitious teams, help them grow, and stay by their side through every stage of the journey. ## Union Square Ventures - Type: VC Fund - Location: New York, New York, United States - Relevant deals: 3 - Stages: Series A, Series B, Seed - Focus: Software, Financial Services, FinTech Union Square Ventures is a venture capital firm based in New York City. ## LD Capital - Type: VC Fund - Location: Shanghai, Shanghai, China - Relevant deals: 3 - Stages: Seed, Initial Coin Offering - Focus: Blockchain, Cryptocurrency, Gaming LD Capital is one of Asia's earliest organizations focusing on value investing in blockchain field. Owing to industrial resource advantages and professional investment research teams, LD Capital has successively discovered and invested in projects such as Qtum, Vechain and Eos which all achieved over 100 times return.Their teams spread overChina, the United States, Europe, Singapore, Japan, and South Korea, and have accumulated rich experience in areas of traditional internet, Fintech, and advanced blockchain technology. They are committed to the globalization of blockchain and quality investment in the entire industry.LD Capital focuses on blockchain innovation projects within finance, games, content publishing, Internet of Things and other circuits, and we have been propelling broad layout of blockchain technology and infrastructure construction to facilitate the comprehensive development of the global blockchain ecosystem. ## ZAKA VC - Type: VC Fund - Location: Prague, Hlavni mesto Praha, Czech Republic - Relevant deals: 3 - Stages: Seed, Pre-Seed - Focus: Artificial Intelligence, Software, Information Technology ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region. ## Kristjan Raude - Type: Angel - Relevant deals: 3 - Stages: Seed, Pre-Seed, Equity Crowdfunding - Focus: Software, Automotive, Internet of Things I am a serial entrepreneur and angel investor with 15+ years of international experience in sales & marketing, leading teams of 300+ with annual revenue of 10M+. Founder of 3 international companies and investor to 10+ startups. Member of the board at Estonian Business Angels Network. ## Martin Villig - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 3 - Stages: Seed, Angel, Pre-Seed - Focus: Software, FinTech, Education Martin is co-founder of Bolt.eu, Estonian Founders Society, Garage48.org, Good Deed Education Foundation and kood/Jõhvi coding school. Read more from http://martinvillig.com ## OpenOcean - Type: VC Fund - Location: Helsinki, Southern Finland, Finland - Relevant deals: 3 - Stages: Series A, Series B, Seed - Focus: Software, Information Technology, SaaS OpenOcean is an early-stage venture capital firm investing in B2B software across Europe with offices in London & Helsinki. ## Creandum - Type: VC Fund - Location: Stockholm, Stockholms Lan, Sweden - Relevant deals: 3 - Stages: Series A, Seed, Series B - Focus: Software, Information Technology, Artificial Intelligence We support early-stage founders in building global, category-defining companies. From Seed to IPO and beyond. ## Ambient Sound Investments - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 3 - Stages: Seed, Series A - Focus: Internet, Software, E-Commerce Ambient Sound Investments (ASI) was established in 2003 as an equal partnership by four founding engineers at Skype to hold a minority stake in Skype. At the end of 2005 ASI sold its Skype shares to eBay and now operates as a private investment vehicle. ## Enterprise Estonia - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 3 - Stages: Grant, Seed, Pre-Seed - Focus: Biotechnology, Software, Mobile Apps Enterprise Estonia (EAS), established in 2000, promotes business and regional development in Estonia. Enterprise Estonia is one of the largest institutions within the national support system for entrepreneurship, providing financial assistance, advisory, cooperation opportunities and training for entrepreneurs, research establishments, public andthird sector. ## Engin Gürsöz - Type: Angel - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, Crowdsourcing, Computer Vision Engin Gürsöz ## Airtree Ventures - Type: VC Fund - Location: Paddington, Western Australia, Australia - Relevant deals: 2 - Stages: Series A, Seed, Series B - Focus: Software, SaaS, Information Technology AirTree is a venture capital firm investing in Australian and New Zealand technology founders from seed stage or earlier. ## Peter Sandberg - Type: Angel - Location: Copenhagen, Hovedstaden, Denmark - Relevant deals: 2 - Stages: Angel, Pre-Seed, Secondary Market - Focus: Internet, Artificial Intelligence, FinTech Peter Sandberg is a Co-Founder of Nordic Secondary Fund, and a venture partner at Startup Wise Guys. He has extensive experience as a Business Angel, Asset Management and Wealth Management ## Christopher Sier - Type: Angel - Location: London, England, United Kingdom - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Education, Recruiting, Professional Services Christopher Sier - Executive Chairman @ ClearGlass ## InfoCert - Type: VC Fund - Location: Rome, Lazio, Italy - Relevant deals: 2 - Stages: Pre-Seed, Corporate Round - Focus: Cyber Security, SaaS, Software Discover the solutions of InfoCert Digital, the largest Certification Authority leader in digital trust services for businesses, professionals and individuals. ## Joakim Karske - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Education, Recruiting, Professional Services Joakim Karske ## Hummingbird Ventures - Type: VC Fund - Location: Gent, Oost-Vlaanderen, Belgium - Relevant deals: 2 - Stages: Series A, Seed, Series B - Focus: Software, Financial Services, Biotechnology Supporting Exceptional entrepreneurs. We value emotional intelligence as much as data, growing internal culture as much as growing revenue, and forming strong, personal bonds with founders. We recognize patterns where other don't. ## TRANGELS - Type: VC Fund - Location: Istanbul, Istanbul, Turkey - Relevant deals: 2 - Stages: Seed, Pre-Seed, Angel - Focus: Software, Information Technology, Biotechnology Early Stage Investment Fund and Network ## Yiğit Barış Şemin - Type: Angel - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, Crowdsourcing, Computer Vision Yiğit Barış Şemin ## Peep Vain - Type: Angel - Relevant deals: 2 - Stages: Seed, Angel - Focus: Software, Genetics, Recruiting Peep Vain is the Private Investor at Vain and Partners. He attended Bentley University.