# Top 50 Impact VC (Venture Capital) Funds in Estonia in June 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Lemonade Stand | 8 | Estonia, Lithuania, India | Seed, Pre-Seed | Software, Artificial Intelligence, FinTech |
| Superangel | 6 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, Information Technology |
| Specialist VC | 4 | Estonia, United Kingdom, Finland | Seed, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| Vestman Energia | 4 | Estonia | Pre-Seed, Seed | Water, Software, CleanTech |
| Thorgate Ventures | 3 | Estonia, United Kingdom, Norway | Seed, Pre-Seed, Series A | Software, SaaS, FinTech |
| Prototron | 3 | Estonia, Finland, Germany | Pre-Seed, Grant, Seed | Software, Manufacturing, Internet of Things |
| Contrarian Ventures | 3 | Lithuania, United Kingdom, France | Seed, Series A, Pre-Seed | Software, Renewable Energy, Energy |
| Spring Capital | 3 | Estonia, Finland, United States | Seed, Pre-Seed, Series A | Software, SaaS, E-Commerce |
| Expansion Capital | 3 | Latvia, United States, Norway | Seed, Debt Financing | Manufacturing, Logistics, Transportation |
| Eigenkapital | 2 | Estonia |  | Water, Recycling, Water Purification |
| Norrsken VC | 2 | Sweden, Germany, United Kingdom | Seed, Series A | Software, Health Care, Food and Beverage |
| Greenco Ventures | 2 | Estonia | Pre-Seed | Software, Sustainability, Renewable Energy |
| Little Green Fund | 2 | Estonia | Pre-Seed | CleanTech, GreenTech, Manufacturing |
| Sunly | 2 | Estonia, France, Finland | Seed, Pre-Seed | Solar, CleanTech, Rental |
| Funderbeam | 2 | Estonia, United Kingdom | Seed, Pre-Seed, Equity Crowdfunding | Apps, FinTech, Software |
| Change Ventures | 2 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Trind Ventures | 2 | Finland, Estonia, Spain | Seed, Series A | Software, Information Technology, SaaS |
| Estonian venture capital | 2 | Estonia | Pre-Seed, Series A | Energy, Software, CleanTech |
| 2C Ventures | 2 | Estonia, Finland, Italy | Pre-Seed, Seed | Software, Renewable Energy, SaaS |
| Icebreaker.vc | 2 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Angel Effect | 2 | Turkey, United States, United Kingdom | Seed, Pre-Seed | Software, E-Commerce, Mobile |
| EstBAN | 2 | Estonia, Lithuania, Latvia | Seed, Pre-Seed, Angel | Software, Information Technology, Manufacturing |
| SpeedUp Venture Capital Group | 2 | Poland, United States, Czech Republic | Seed, Pre-Seed, Series A | Software, SaaS, Artificial Intelligence |
| Iron Wolf Capital | 2 | Lithuania, Estonia, United Kingdom | Seed, Series A, Pre-Seed | Software, Information Technology, SaaS |
| Future Ventures | 2 | United States, China, Canada | Series A, Seed, Series B | Biotechnology, Software, Medical |
| Tallinn University of Technology (TalTech) | 1 | Estonia | Pre-Seed | CleanTech, GreenTech, Manufacturing |
| Honey Badger Capital OÜ | 1 | Estonia | Seed | FinTech, GreenTech, Health Care |
| Sie Ventures | 1 | United Kingdom, Spain, Estonia | Seed, Pre-Seed, Series B | CRM, SaaS, Mobile |
| BayWa r.e. Energy Ventures | 1 | Germany, Israel, Sweden | Series B, Seed, Series A | SaaS, Energy, Solar |
| UP Invest | 1 | Estonia | Series A | Energy, CleanTech, Automotive |
| Grid.vc | 1 | Finland, Estonia | Seed, Pre-Seed | Energy, Renewable Energy, SaaS |
| Polkastarter | 1 | India, Vietnam, United States | Seed, Pre-Seed | Gaming, Blockchain, Video Games |
| Kaamos | 1 | Estonia | Pre-Seed | Manufacturing, Battery, CleanTech |
| Big Brain Holdings | 1 | United States, Singapore, United Kingdom | Seed, Pre-Seed, Series A | Blockchain, Cryptocurrency, Gaming |
| Combiwood Grupp | 1 | Estonia | Seed | Forestry, GreenTech, Environmental Consulting |
| Oddiyana Ventures | 1 | United States, Estonia, Spain | Seed | Gaming, Blockchain, Bitcoin |
| Swedbank | 1 | Sweden, Latvia, Finland | Post-IPO Debt, Debt Financing | Banking, Real Estate, FinTech |
| Pontos Group | 1 | Finland |  | Genetics, Hospital, Automotive |
| Enterprise Estonia | 1 | Estonia | Grant, Seed, Pre-Seed | Biotechnology, Software, Mobile Apps |
| Orange DAO | 1 | United States, Singapore, Spain | Pre-Seed, Seed, Private Equity | Cryptocurrency, Blockchain, Software |
| European regional development fund (ERDF) | 1 | United Kingdom, Germany, France | Grant, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| EdgeCap Partners | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| Commerce Ventures | 1 | United States, India, United Kingdom | Series A, Seed, Series B | FinTech, Software, Financial Services |
| BSV Ventures | 1 | Lithuania, Estonia, Luxembourg | Pre-Seed, Convertible Note | Software, Drones, Infrastructure |
| Mapleblock Capital | 1 | United States, Singapore, Estonia | Seed, Series A | Blockchain, Gaming, Cryptocurrency |
| LIFT99 | 1 | Estonia, United Kingdom, El Salvador | Pre-Seed, Seed, Series A | Software, Information Technology, Legal |
| ZGI Capital | 1 | Latvia, Estonia | Seed, Debt Financing | Manufacturing, Machinery Manufacturing, Retail |
| Helmes | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| Superhero Capital | 1 | Finland, Lithuania, Estonia | Seed, Pre-Seed | Software, Information Technology, Internet |
| MV Global | 1 | United States, Hong Kong, Singapore | Seed, Initial Coin Offering | Blockchain, Gaming, Cryptocurrency |

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