# Top 50 Energy VC (Venture Capital) Funds in Estonia in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Specialist VC | 7 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Superangel | 5 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Lemonade Stand | 4 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Contrarian Ventures | 4 | Lithuania, United Kingdom, Estonia | Seed, Series A, Pre-Seed | Software, Information Technology, Energy |
| Sunly | 3 | Estonia, France | Pre-Seed, Seed | Solar, CleanTech, Hardware |
| Spring Capital | 3 | Estonia, Finland, United Kingdom | Seed, Pre-Seed, Series A | Software, E-Commerce, SaaS |
| Vestman Energia | 3 | Estonia | Seed, Pre-Seed | Water, Software, Logistics |
| Change Ventures | 3 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Funderbeam | 2 | Estonia, United Kingdom | Seed, Pre-Seed, Equity Crowdfunding | Apps, FinTech, Software |
| Trind Ventures | 2 | Estonia, Finland, Latvia | Seed, Series A | Software, Information Technology, Analytics |
| Thorgate Ventures | 2 | Estonia, United Kingdom, Norway | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Norrsken VC | 2 | Sweden, United Kingdom, Germany | Seed, Series A | Software, Food and Beverage, Health Care |
| Icebreaker.vc | 2 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Iron Wolf Capital | 2 | Lithuania, Estonia, United Kingdom | Seed, Pre-Seed, Series A | Software, Infrastructure, Manufacturing |
| Expansion Capital | 2 | Latvia, Estonia | Seed, Series A | Drones, Big Data, Software |
| EstBAN | 1 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Angel | Software, Information Technology, EdTech |
| Future Ventures | 1 | United States, China, Canada | Series A, Series B, Seed | Software, Biotechnology, Health Care |
| BayWa r.e. Energy Ventures | 1 | Israel, Sweden, Estonia | Series B, Seed, Series A | Energy, SaaS, Renewable Energy |
| Yolo Investments | 1 | Estonia, United States, Canada | Seed, Series A | Information Technology, Cryptocurrency, Internet |
| Opus11 VC | 1 | Estonia | Seed, Pre-Seed | Battery, Electronics, Manufacturing |
| SpeedUp Venture Capital Group | 1 | Poland, United States, Estonia | Seed, Pre-Seed, Series A | Software, SaaS, Mobile |
| Crosslight Partners | 1 | Sweden, Estonia | Seed | Biotechnology, B2B, Medical |
| Decacorn Capital | 1 | United States, Israel, Singapore | Seed, Series B | Information Technology, Software, Artificial Intelligence |
| Black Pearls VC | 1 | Poland, United States, United Kingdom | Seed, Pre-Seed | Software, Artificial Intelligence, FinTech |
| Grid.vc | 1 | Finland, Estonia | Seed, Pre-Seed | SaaS, Energy, Battery |
| Bangladesh Angels | 1 | Bangladesh, India, Estonia | Seed, Pre-Seed, Angel | Supply Chain Management, Fashion, SaaS |
| Commerce Ventures | 1 | United States, India, Israel | Series A, Seed, Series B | FinTech, Software, Financial Services |
| European regional development fund (ERDF) | 1 | United Kingdom, Germany, France | Grant, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| F+ Ventures | 1 | Turkey, Estonia, United States | Seed, Series A, Pre-Seed | Software, Transportation, Automotive |
| The Sharing Group | 1 | The Netherlands, Austria, Estonia | Seed | Environmental Consulting, SaaS, Big Data |
| EQT Ventures | 1 | Sweden, Germany, United States | Series A, Series B, Seed | Software, Information Technology, SaaS |
| Little Green Fund | 1 | Estonia | Pre-Seed | Nanotechnology |
| Superhero Capital | 1 | Finland, Estonia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Internet |
| Tallinn University of Technology | 1 |  |  |  |
| ZGI Capital | 1 | Latvia, Estonia | Seed, Debt Financing | Manufacturing, Machinery Manufacturing, Consulting |
| Helmes | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| TMT Investments | 1 | United States, United Kingdom, Estonia | Seed, Series A | Software, SaaS, Social Media |
| Warmeston | 1 | Estonia | Seed | Natural Resources, Environmental Consulting |
| Eigenkapital | 1 | Estonia |  | Sustainability, Natural Resources |
| Atomico's Angel Programme | 1 | Estonia, Germany, United States | Pre-Seed, Angel | Software, B2B, SaaS |
| Link Capital | 1 | Norway, Denmark, Estonia | Seed | Energy, Automotive, Electronics |
| Honey Badger Capital OÜ | 1 | Estonia | Seed | FinTech, GreenTech, Health Care |
| LIFT99 | 1 | Estonia, United Kingdom, El Salvador | Pre-Seed, Seed, Series A | Software, Information Technology, Legal |
| Cats.vc | 1 | Lithuania, Italy, Spain | Seed, Pre-Seed, Series A | Financial Services, Software, SaaS |
| Ministry of Economic Affairs and Communications for Estonia | 1 | Estonia | Pre-Seed | CleanTech, GreenTech, Manufacturing |
| Prototron | 1 | Estonia | Grant | Art, Mobile, Printing |
| Greenco Ventures | 1 | Estonia | Pre-Seed | Renewable Energy, Environmental Engineering |
| EdgeCap Partners | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| Kaamos | 1 | Estonia | Pre-Seed | CleanTech, GreenTech, Manufacturing |
| Sie Ventures | 1 | Spain, Estonia, United Kingdom | Seed, Series B | CRM, SaaS, Mobile |

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