# Top 15 B2B VC (Venture Capital) Funds in Estonia in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Boğaziçi Ventures | 2 | Turkey, United Arab Emirates, Sweden | Seed, Pre-Seed | Software, Artificial Intelligence, Video Games |
| Zenith Family Office | 2 | Estonia, United States | Pre-Seed | Commercial Real Estate, SaaS, B2B |
| Practica Capital | 1 | Lithuania, United Kingdom, United States | Seed, Series A | Information Technology, Software, B2B |
| Correlation Ventures | 1 | United States, Canada, Estonia | Seed, Series A, Series B | Software, Health Care, Information Technology |
| Gorilla Capital | 1 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, SaaS |
| Initialized Capital | 1 | United States, Canada, United Kingdom | Seed, Series A, Series B | Software, SaaS, Health Care |
| Change Ventures | 1 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| European regional development fund (ERDF) | 1 | United Kingdom, Germany, France | Grant, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| Specialist VC | 1 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Mobi | 1 | Estonia | Seed | B2B, Software, Information Technology |
| Pulsar Venture Capital | 1 | Russian Federation, United States, Ireland | Seed, Pre-Seed | Software, Internet, Information Technology |
| Lux Capital | 1 | United States, Canada, United Kingdom | Series A, Seed, Series B | Software, Health Care, Biotechnology |
| Yolo Investments | 1 | Estonia, United States, Canada | Seed, Series A | Information Technology, Cryptocurrency, Internet |
| Sberbank | 1 | Russian Federation, United States, The Netherlands | Seed, Corporate Round | Internet, Information Technology, E-Commerce |
| Icebreaker.vc | 1 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |

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