# Top 20 B2B Startup Investors in Estonia in May 2026 ## Zenith Family Office - Type: VC Fund - Relevant deals: 2 - Stages: Pre-Seed - Focus: Commercial Real Estate, SaaS, B2B Independent wealth management company devoted to handling the investments and personal needs of wealthy individuals ## hi VC - Type: Angel - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, Information Technology hi VC ## Boğaziçi Ventures - Type: VC Fund - Location: Istanbul, Istanbul, Turkey - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, Video Games Boğaziçi Ventures has been established in 2015 with the purpose of supporting entrepreneurship to take their global success to a next level. We aim to invest in technology start-ups which have talented teams by providing business models and looking for funds and mentoring support for future exponential growth.BV Growth fund will only focus on thetechnology startups established in Turkey at the growth stage while having the ambition to get into the global market.BV Crypto fund will be closed with a minimum fund size of $50M to invest in cryptocurrency and blockchain projects. People are interested in investing in cryptocurrency, especially new initial coin offerings (ICO), but they don’t know which one is reliable. We have an extremely capable team dedicated to cryptocurrency. Our analysts search hundreds of ICO projects, follow their communication, investigate the commitment of their teams, make interviews and if they have a chance, even visit them at their locations to give a much better decision. ## Marek Kiisa - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Information Technology, Artificial Intelligence Marek Kiisa is the co-founder and Managing Partner at NordicNinja VC, and the co-founder and partner at Superangel.io. He has made 15 private angel investments and created several companies, like Astrec Baltic, Pilvio.io and Kood/Johvi coding school. He has his Master Degree on Machine Design from KTH Stockholm and he is a Kauffman FellowClass 19. ## Correlation Ventures - Type: VC Fund - Location: San Diego, California, United States - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Software, Health Care, Information Technology Reimagining our industry. So our clients can disrupt theirs. ## Maria Sundlof - Type: Angel - Relevant deals: 1 - Stages: Angel, Pre-Seed - Focus: Software, B2B, SaaS Maria Sundlof is a Program Director at NKT and CEO & Owner of Procevia. ## Sten Tamkivi - Type: Angel - Location: San Francisco, California, United States - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Financial Services, Artificial Intelligence 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. ## Initialized Capital - Type: VC Fund - Location: San Francisco, California, United States - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Software, SaaS, Health Care Initialized Capital is an early-stage venture capital firm focused on the seed. Initialized has 6 investing partners and over $3.2B under management over five core funds since its founding in 2012. The firm's startups have created in aggregate over $200B in market value so far. ## Mobi - Type: VC Fund - Location: Tartu, Tartumaa, Estonia - Relevant deals: 1 - Stages: Seed - Focus: B2B, Software, Information Technology Mobi is a holding and investment company of Mobi Solutions group ## Bain Capital - Type: VC Fund - Location: Boston, Massachusetts, United States - Relevant deals: 1 - Stages: Private Equity, Series B - Focus: Software, Financial Services, Health Care Bain Capital is a multi-asset alternative investment firm with assets under management and operates business units that create value through private equity, public equity, credit, and venture capital across multiple sectors and industries. ## Sberbank - Type: VC Fund - Location: Moscow, Moscow City, Russian Federation - Relevant deals: 1 - Stages: Seed, Corporate Round - Focus: Internet, Information Technology, E-Commerce Sberbank today is the largest credit institution in Russia and CIS, accounting for 26% of the aggregate Russian banking assets and 30% of banking capital. According to The Banker magazine, as of July 01, 2010, Sberbank was ranked 43th in the world in terms of Tier 1 capital.Established in 1841, Sberbank has grown into a universal commercialbank with diversified businesses. Sberbank is the biggest taker of deposits in the country and the key lender to the national economy. As of January 01, 2011, Sberbank accounted for 47,9% of retail deposits, 31% of consumer loans and 31% of corporate loans in Russia. ## Gorilla Capital - Type: VC Fund - Relevant deals: 1 - Stages: Pre-Seed, Seed, Series A - Focus: Software, Information Technology, SaaS Gorilla Capital is a Finnish venture capital fund investing in early stage companies that apply technology to solve real business problems of today. ## Practica Capital - Type: VC Fund - Location: Vilnius, Vilniaus Apskritis, Lithuania - Relevant deals: 1 - Stages: Seed, Series A - Focus: Information Technology, Software, B2B Practica Capital ## Pulsar Venture Capital - Type: VC Fund - Location: Kazan, Tatarstan, Russian Federation - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Software, Internet, Information Technology Pulsar Venture Capital, a business acceleration program, offers financing and mentorship to clean tech, robotics, and electronics startups. ## Jaan Tallinn - Type: Angel - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 1 - Stages: Seed, Series A - Focus: Software, Artificial Intelligence, Internet Jaan Tallinn is the Co-founder of Future of Life Institute. ## European regional development fund (ERDF) - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 1 - Stages: Grant, Pre-Seed - Focus: Software, Information Technology, Artificial Intelligence The European Regional Development Fund (ERDF) aims to improve the European Union's economic, social, and territorial cohesion by resolving imbalances across its various regions. ERDF funds initiatives for which the European Commission and national and regional governments in member countries share responsibility. Each member state'sgovernment decides which initiatives to support and is responsible for their continued supervision. ## Lux Capital - Type: VC Fund - Location: New York, New York, United States - Relevant deals: 1 - Stages: Series A, Seed, Series B - Focus: Software, Health Care, Biotechnology Lux Capital manages over $5 billion in assets focused on founding, seed, early-stage, and growth investments at the intersection of technology and the sciences. Lux takes an active role in helping entrepreneurs build successful businesses in high-growth sectors. Its investment team has built over 20 companies from scratch. Lux's investmentstrategy ensures portfolio companies are better connected, have a deeper insight, and command industry leadership faster than their competitors. ## Icebreaker.vc - Type: VC Fund - Location: Helsinki, Southern Finland, Finland - Relevant deals: 1 - 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. ## Yolo Investments - Type: VC Fund - Relevant deals: 1 - Stages: Seed, Series A - Focus: Information Technology, Cryptocurrency, Internet Yolo Investments is a venture capital, focused on seed- and A-stage investment opportunities across gaming and fintech. Based in Estonia, Yolo’s mission is to invest in outstanding people with bright ideas, who are focused on innovating and disrupting the norm in all manner of tech startups. Founded in 2017 by Tim Heath as Vereeni Investments,Yolo has created a thriving ecosystem with ventures across a variety of industries, including fintech, gambling, media, software development, crypto and blockchain-related companies. ## Matt Arnold - Type: Angel - Location: Houston, Texas, United States - Relevant deals: 1 - Stages: Seed - Focus: B2B, Software, Information Technology Matt Arnold is a Co-Founder and member of the Board of Directors for Solid BiosciencesMatt Arnold's background is in energy commodities. He was Managing Director of Constellation Energy Global Commodities in London from 2005 – 2009 when it was sold to Goldman Sachs.Prior to joining Constellation in 2002, Matt Arnold worked in energytrading and finance at Enron. Since 2009, Matt Arnold has been actively working with startup businesses in the UK and Europe, primarily in the technology and clean tech sectors. He holds an MS in Environmental Engineering from the University of Virginia and an undergraduate degree from Duke University. # About Shizune Shizune.co is an investor database. Core features: - 48,091 startup investors (angels, VCs, accelerators, and others) - Email, phone, LinkedIn (for intros), socials, and other contact data - Updated daily from public funding news - CSV and Excel export The User can access the full database FOR FREE after signing up: shizune.co