# Top 50 Climate Startup Investors in Estonia in October 2023

## Superangel
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 6
- Stages: Seed, Pre-Seed, Series A
- Focus: Artificial Intelligence, Software, FinTech

Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io

## Specialist VC
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 5
- Stages: Seed, Pre-Seed
- Focus: Information Technology, Software, FinTech

United Angels VC is an early stage venture capital fund based in Estonia.

## Thorgate Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 5
- Stages: Seed, Pre-Seed
- Focus: Software, SaaS, Information Technology

We invest both capital and our know-how into startups. Join us and let's change the world

## Lemonade Stand
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 5
- Stages: Seed, Pre-Seed, Angel
- Focus: Software, SaaS, FinTech

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

## Change Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 4
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Apps

We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world.

## Vestman Energia
- Type: VC Fund
- Location: Viljandi, Viljandimaa, Estonia
- Relevant deals: 3
- Stages: Seed, Pre-Seed
- Focus: Water, Software, Logistics

Our focus changes in the same pace with the surrounding world. If the main concern of the mankind is the food and energy supplies and polluted living environment, the current activities of the companies of Vestman Group thus also focus on these topics. Our vision is to be a sustainable forest manager on one of the Estonian largest private forestpossession. We lease out arable lands, give advice and help to find the best solution based on the partner’s needs. We are starting our journey in Eco-friendly Technology to strengthen our Circular economy way of doing things even further. We value the world we live in and the resources we use in our business.

## Spring Capital
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, E-Commerce, SaaS

Investments in exceptional teams in the Baltics & Nordics.Our two main focuses include: 1. Startups with a technological edge. Seed stage. Our check size is from €50K up to €200K. With a vast experience in startup building, we typically get hands-on with our advice and help the founders achieve operational excellence. 2. Innovators oftraditional sectors. SMEs with a proven track and strong market position. Clear plans to accelerate the growth. Our investment ticket can be from €300K to €700K to support these aspirations. If you think we have a match, reach out through invest@springcapital.ee.

## Kristjan Raude
- Type: Angel
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Equity Crowdfunding
- Focus: Consumer Electronics, Internet of Things, Software

I am a serial entrepreneur and angel investor with 15+ years of international experience in sales & marketing, leading teams of 300+ with annual revenue of 10M+. Founder of 3 international companies and investor to 10+ startups. Member of the board at Estonian Business Angels Network.

## Icebreaker.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 2
- 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.

## Martin Henk
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Pre-Seed, Seed, Angel
- Focus: Software, SaaS, Information Technology

Martin Henk is the Co-founder of Pipedrive.

## 42CAP
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, SaaS, Artificial Intelligence

42CAP is a seed stage investment firm based in Munich, Germany.
They initially invest € 0.5 to 1.5m in seed-stage tech- and data-driven companies across Europe with global ambition.With eCircle they previously built one of Europe’s largest SaaS companies and sold the profitable business to Teradata (NYSE:TDC) in 2012.

## Sten Tamkivi
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 2
- 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.

## Ragnar Sass
- Type: Angel
- Relevant deals: 2
- Stages: Pre-Seed, Seed
- Focus: Software, Information Technology, SaaS

Ragnar Sass has strongest skill is to find the best people and keep them rocking in speed of 200 km/h. He has organized 20+ Hack-a-thons Garage48 in Eastern Europe + West & East-Africa. He advise other founders and share experience where it could help.

## Norrsken VC
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Food and Beverage, Health Care

We are a venture capital fund investigating in Start-Ups solving the worlds biggest problems while building massive businesses.

## Ambient Sound Investments
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Internet, Software, E-Commerce

Ambient Sound Investments (ASI) was established in 2003 as an equal partnership by four founding engineers at Skype to hold a minority stake in Skype. At the end of 2005 ASI sold its Skype shares to eBay and now operates as a private investment vehicle.

## Martin Tajur
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Pre-Seed, Seed, Angel
- Focus: Software, SaaS, Recruiting

Martin Tajur is the co-founder of Pipedrive.

## Madis Müür
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Equity Crowdfunding, Pre-Seed
- Focus: Apps, Smart Building, Marketing Automation

Madis Müür

## Expansion Capital
- Type: VC Fund
- Location: Riga, Riga, Latvia
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Drones, Big Data, Software

Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies.

## Funderbeam
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Equity Crowdfunding
- Focus: Apps, FinTech, Software

Funderbeam is a funding and trading platform that connects companies and investors to buy and sell equity stakes. The platform allows the founders to gain exposure, legal support, a funding manager, or an investor network. It also allows the investors to take control of their investments and trade anytime they want.The company was founded in 2013as a global data platform for startup companies.

## Taavi Tamkivi
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Angel, Pre-Seed
- Focus: Financial Services, Software, AgTech

Taavi Tamkivi was Helping in Banks & FinTechs fight FinCrime. also a Founder & CEO at Salv .

## Sunly
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Pre-Seed, Seed
- Focus: Solar, CleanTech, Hardware

Sunly creates wind & solar parks by engaging local communities. Also, Sunly boosts cleantech startups via capital, know-how and networks.

## Martin Villig
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Angel, Pre-Seed
- Focus: Software, Information Technology, Education

Martin is co-founder of Bolt.eu, Estonian Founders Society, Garage48.org, Good Deed Education Foundation and kood/Jõhvi coding school.
Read more from http://martinvillig.com

## Contrarian Ventures
- Type: VC Fund
- Location: Vilnius, Vilniaus Apskritis, Lithuania
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Information Technology, Energy

We are a hands-on, community-focused and founders vetted early-stage sustainable energy transition focused VC in Europe & Israel

## Trind Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Information Technology, Analytics

Trind Ventures is an early stage VC fund based in Tallinn, Estonia. Investing in start-ups across Europe, from seed rounds all the way to sustainability, with a focus on ICT. Trind Ventures partners are Joel Aasmäe, Ivar Siimar, Kimmo Irpola and Taavi Lepmets.

## Iron Wolf Capital
- Type: VC Fund
- Location: Vilnius, Vilniaus Apskritis, Lithuania
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Infrastructure, Manufacturing

We are here to make you succeed! Iron Wolf Capital is an international venture capital firm with an experienced team of professionals with global outlook and strong roots in the Baltics. and a mandate for helping entrepreneurs realise their ideas into successful businesses. 

## Ott Kaukver
- Type: Angel
- Location: Menlo Park, California, United States
- Relevant deals: 1
- Stages: Series A, Seed, Pre-Seed
- Focus: Software, Financial Services, SaaS

Ott Kaukver is Chief Technology Officer at Checkout.com. Attended Estonian Business School.

## Karin Nemec
- Type: Angel
- Location: Frankfurt, Hessen, Germany
- Relevant deals: 1
- Stages: Seed
- Focus: FinTech, GreenTech, Health Care

Karin Nemec is the Founder and CEO.Karin Nemec attended IESE Business School.

## Bangladesh Angels
- Type: VC Fund
- Location: Dhaka, Dhaka, Bangladesh
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Angel
- Focus: Supply Chain Management, Fashion, SaaS

Bangladesh Angels operates as an angel investing platform. Its mission to nurture innovation and entrepreneurship in Bangladesh, connecting them to both local and global investors.
Bangladesh Angels was founded in 2018 and is headquartered in Dhaka, Bangladesh.

## 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.

## Sie Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: CRM, SaaS, Mobile

SIE

## Kuldar Väärsi
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Focus: Water, Recycling, Water Purification

Kuldar Väärsi is the Founder and CEO at Milrem Robotics.

## Taavi Veskimägi
- Type: Angel
- Relevant deals: 1
- Focus: Sustainability, Natural Resources

Taavi Veskimägi is a former member of the Estonian Parliament(2003-2009) and Minister of Finance from 2003 to 2005.

## Justin Jenk
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed
- Focus: Battery, Electronics, Manufacturing

Justin Jenk is the Senior Managing Partner of Raktas OU.

## Prototron
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Grant
- Focus: Art, Mobile, Printing

Prototron is a start-up fund that gives money to teams for turning their great ideas into the first working prototype. Founded in 2012 by Swedbank, Tallinn Technical University and Tallinn Science Park Tehnopol. We finance teams with high growth potential in areas of Greentech, Electronics, Mechatronics and ICT. We run 3-4 rounds of financingevery year. During last 5 years we've funded 58 startups with over 470'000€ in cash + coaching/incubation services. Our protfolio has generated >4,5 M€ revenue and raised >17'000'000€ capital. These results make Prototron the most productive pre-seed fund in Estonia. Do you want to be part of the success? We seek for:
*) New start-up teams who need money for building a prototype. Apply for funding: www.prototron.ee
*) Additional partners who want to be part of Estonia's next success stories.

## Greenco Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Renewable Energy, Environmental Engineering

Greenco Ventures is an investment firm.

## Raivo Kütt
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Angel
- Focus: Apps, Gaming, Mobile

Raivo Kütt

## Aare Järvan
- Type: Angel
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Angel
- Focus: Apps, Gaming, Mobile

Aare Järvan

## Warmeston
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed
- Focus: Natural Resources, Environmental Consulting

We value process in our work. Details and experience combined with innovative technology and effectiveness make us your long term partner.

## Eigenkapital
- Type: VC Fund
- Location: Curitiba, Parana, Brazil
- Relevant deals: 1
- Focus: Sustainability, Natural Resources

Eigenkapital is an investment firm.

## Toomas Kõuhkna
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Battery, Electronics, Manufacturing

Toomas Kõuhkna

## Kaamos
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: CleanTech, GreenTech, Manufacturing

Kaamos is an investment management firm that invests in the construction, real estate, energy sector, and wood industry.

## Margus Kohava
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Natural Resources, Environmental Consulting

Margus Kohava is the head of the Estonian Forest and Wood Industries Association.

## Grid.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: SaaS, Energy, Battery

Grid.vc is the first investor in superb teams disrupting the energy business.

## Kersti Kaljulaid
- Type: Angel
- Location: Tallin, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed
- Focus: Battery, Electronics, Manufacturing

In 2016, Kersti Kaljulaid was elected President of the Republic of Estonia. Previously she served from 2004 to 2016 as a Member of the European Court of Auditors. Kersti Kaljulaid was the CFO and CEO of the Iru Power Plant of state-owned energy company Eesti Energia from 2002 to 2004. From 1999 to 2002, Kersti Kaljulaid was Prime Minister MartLaar's Economic Advisor.Kersti Kaljulaid was a member of the Supervisory Board of the Estonian Genome Center from 2001 to 2004. She was also a member of the Advisory Board of the University of Tartu from 2009 to 2011 and the Council Chair of the University from 2012 to 2016. Kersti Kaljulaid graduated from the University of Tartu in 1992 in the field of genetics in the Faculty of Natural Sciences and completed her master's studies in the Faculty of Economics and Business Administration in 2001.

## Pascal Christian Weinberger
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series A, Seed, Angel
- Focus: EdTech, Software, Communities

Pascal Christian Weinberger - CEO & Co-Founder @ Bardeen

## Andrius Slimas
- Type: Angel
- Location: Vilnius, Vilniaus Apskritis, Lithuania
- Relevant deals: 1
- Stages: Seed
- Focus: Information Technology, Cooking, Jewelry

Andrius Slimas - CEO and co-founder @ Oberlo, formerly head of web agency Studio4, over ten years experience in ecommerce, dropshipping and software development.Oberlo is a dropshipping solution for ecommerce store-owners. It provides a number of dropshipping automation tools and instant access to millions of products available fordropshipping.

## Janis Krums
- Type: Angel
- Location: Riga, Riga, Latvia
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Angel
- Focus: Big Data, Financial Services, SaaS

Janis Krums is a Venture Partner at change ventures.

## Taavi Kotka
- Type: Angel
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Angel
- Focus: Electronics, Battery, FinTech

Taavi Kotka, currently the Estonian Government CIO, has a strong background working in private sector. He started his career as a programmer, rapidly rising to be a Managing Director of the most successful software development company in the region – Nortal, former Webmedia. He is a founder of many innovative start-up companies likezeroturnaround.com, plumbr.eu etc. He has a Master of Science in Engineering from Tallinn University of Technology. Also, Taavi Kotka has many honors: he is the European CIO of the Year 2014 (by ICT Spring), he was the president of the Estonian Association of Information Technology and Telecommunications (ITL) and he was elected as an Entrepreneur of the year in 2011 (by Ernst&Young). Taavi is a board member in many ICT initiatives in Estonia and has been the brainpower behind many Estonian e-government innovative initiatives like e-residency, data embassy, no-legacy policy etc.

## Superhero Capital
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Internet

Early-stage VC searching for the next Superheroes.

## Ministry of Economic Affairs and Communications for Estonia
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: CleanTech, GreenTech, Manufacturing

The Ministry of Economic Affairs and Communications intends to promote Estonian enterprises' efficiency and people's prosperity.It also encourages entrepreneurship to have a justifiable price for the efficient transport system, a developing information society, and environmentally friendly energy supply.It was headquartered inTallinn, Harjumaa.

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