VC Firms in Estonia

Butterfly Ventures is a leading seed-stage venture capital firm focused on deep tech startups in the Nordics and Baltics. They prioritize companies with social or environmental impact and have a reputation for their collaborative approach with founders. They are known for being the first carbon-neutral VC fund in Europe.

Change Ventures is a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world. They provide pre-seed and seed investments, hands-on support, and a network of later-stage investors.

Icebreaker.vc supports teams from the idea stage and beyond, investing up to 1.5M€ in first tickets in Estonia, Finland, and Sweden. They have a portfolio of over 100 companies.

Superhero Capital is an early-stage venture capital firm focused on software-driven startups in the Nordic region (Finland and the Baltics). They primarily invest up to €1 million in seed funding, supporting founders with building their businesses.

Tera Ventures is an Estonian venture capital firm investing in early-stage born-global digital startups. They focus on supporting ambitious founders tackling big problems and aim to help them become industry leaders. They are hands-on and founder-friendly, providing follow-on investments and a global advisory network.

Thorgate Ventures is the seed stage venture capital arm of Thorgate. They make up to four hands-on investments per year, primarily in scalable B2B solutions. Their focus is on providing capital and know-how, mentorship, and access to their network.