12 Best Active Seed Investors in Estonia in 2025
Seed-stage investing is about recognizing and fueling potential. Startups at this phase need to refine their offerings, expand their teams, and go from founder-led sales to building a real go-to-market engine. After tracking investment activity for 2,500+ funds, our 2025 list spotlights top seed investors who have actively participated in at least 5 seed funding rounds.
Last update to the database: May 6, 2025. See changelog.
Investor Rankings are calculated using our Seedtable Score – a 1 to 100 score that uses quantitative and qualitative data points (like the size of their fund or the quality of the companies they invested in) to signal the strength behind an investor. A score closer to 100 indicates an investor is worth watching closely.
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List of 12 top Estonia VCs
NordicNinja VC, based in Helsinki, invests in tech startups from seed to series D stages, with investments ranging from $1M to $6M. Their focus includes AI, data analytics, mobility, gaming, health tech, and more. Notable investments include Onego Bio and Einride. The fund supports Nordic and Baltic companies that are shaping the future.
Offices:
Helsinki (HQ)
Stockholm
Tallinn
Investment Stage:
Seed, Series A, Series B, Series C, Series D, Unknown
Check Size:
$100k - $250M
Industries:
Climate Tech & Green Tech, Health Tech, FinTech
Top investments in Estonia:
A venture capital firm investing in pre-seed and seed technology startup companies operating in the Baltic States.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Unknown
Check Size:
$500k - $40M
Industries:
Climate Tech & Green Tech, Edtech, FinTech
Top investments in Estonia:
Metaplanet Holdings is a venture capital fund based in Tallinn. It invests in companies from seed stage to series B, focusing on sectors such as AI, biotech, and fintech. Notable investments include Vortexa, Lightyear, and Element. The fund aims to support early-stage ventures across various industries.
Offices:
Tallinn (HQ)
Investment Stage:
Seed, Series A, Series B, Unknown
Check Size:
$100k - $250M
Industries:
Climate Tech & Green Tech, Health Tech, Edtech
Top investments in Estonia:
Karma Venture, based in Tallinn, is a venture capital fund investing in early-stage tech startups from seed to series B, with check sizes from $0 to $5 million. They focus on companies with unique ideas and strong growth potential in sectors like AI, cybersecurity, and health tech. Supporting firms commercially, strategically, and technically, their portfolio includes Tuum, Realeyes, and Hydrogrid.
Offices:
Tallinn (HQ)
Investment Stage:
Seed, Series A, Series B, Unknown
Check Size:
$2.5M - $30M
Industries:
Health Tech, Edtech, FinTech
Top investments in Estonia:
Superangel, a venture capital fund based in Tallinn, focuses on early-stage technology and healthcare companies across the Baltics and Nordics. They typically invest between $100,000 and $500,000 in startups within areas like developer tools, cloud services, fintech, and mobility solutions. Notable portfolio companies include Nanordica Medical, Vok Bikes, Fyma, Grünfin, and Salv. Superangel aims to support the growth of startups with strong potential in diverse tech and industrial sectors.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Series C, Unknown
Check Size:
$100k - $250M
Industries:
Climate Tech & Green Tech, Health Tech, Edtech
Top investments in Estonia:
Icebreaker is a venture capital fund based in Helsinki. They invest in early-stage tech companies, ranging from idea-stage to Series B, with check sizes between €150,000 and €800,000. Their focus includes sectors like AI, health tech, and cybersecurity. Icebreaker has backed companies such as Fixably, Alvin, eBrands, Accurator, and Klaus, seeking teams with deep domain expertise and ambitions to build globally competitive tech firms.
Offices:
Helsinki (HQ)
Stockholm
Tallinn
Investment Stage:
Angel, Pre Seed, Seed, Series A, Series B, Unknown
Check Size:
$100k - $40M
Industries:
Climate Tech & Green Tech, Health Tech, Edtech
Top investments in Estonia:
Lemonade Stand is a venture capital fund based in Tallinn, specializing in early-stage investments. They support Baltic and East European founders with check sizes from $25,000 to $300,000. The fund backs startups in sectors such as real estate, biotech, AI, and fintech. Portfolio companies include Woola, Fyma, and Grünfin. Whether providing seed or pre-seed funding, Lemonade Stand aims to help founders bring their ideas to life.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Unknown
Check Size:
$100k - $5M
Industries:
Climate Tech & Green Tech, Health Tech, FinTech
Top investments in Estonia:
A mentor-driven startup accelerator offering a three month accelerator program.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Series C, Unknown
Check Size:
$100k - $250M
Industries:
Climate Tech & Green Tech, Edtech, FinTech
Top investments in Estonia:
SmartCap is a venture capital fund based in Tallinn, focused on early-stage companies in sectors such as energy, climate tech, manufacturing, agritech, and real estate technology. They provide essential seed financing to help Estonian companies expand globally. As a subsidiary of the Estonian Business and Innovation Agency, SmartCap operates under the Estonian Financial Supervisory Authority. Their portfolio includes UP Catalyst, Bisly, CupLoop, and Paul-Tech. For more information, visit www.smartcap.ee.
Offices:
Tallinn
Investment Stage:
Seed, Series A
Check Size:
$2.5M - $10M
Industries:
Climate Tech & Green Tech, Agritech, Proptech & Real Estate
Top investments in Estonia:
Spring Capital is a venture capital fund based in Tallinn. They invest in early-stage companies across the Baltics and Scandinavia, with investments ranging from $250k to $5M. Focus sectors include tech, security, mobility, and entertainment. Notable portfolio companies are Salesforge, Teamscope, Ready Player Me, FoodDocs, and Vembla. Spring Capital aims to support startups with strong growth potential in diverse business areas.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Unknown
Check Size:
$100k - $5M
Industries:
Edtech, FinTech, Foodtech
Top investments in Estonia:
We are a venture capital fund supporting forward-thinking founders from Estonia, Latvia, Lithuania, Finland and Ukraine.
Offices:
Tallinn (HQ)
Investment Stage:
Pre Seed, Seed, Series A, Unknown
Check Size:
$100k - $10M
Industries:
Climate Tech & Green Tech, Health Tech, Edtech
Top investments in Estonia:
Breakaway Partners OÜ is a venture capital fund based in Tallinn, focusing on funding and mentoring early-stage companies working with cutting-edge technology and digital content. Notable investments include Dinlebi. They support founders driving industry change.
Offices:
San Diego
Amsterdam
Tallinn (HQ)
Investment Stage:
Seed
Check Size:
$1M - $2.5M
Industries:
AI, Music and Audio, Media and Entertainement
Top investments in Estonia: