# Top 20 Health Care VC (Venture Capital) Funds in Estonia in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Verge HealthTech Fund | 4 | Singapore, Estonia, Taiwan | Seed, Pre-Seed | Health Care, Medical Device, Medical |
| Excellent Business Solutions | 2 | Estonia | Angel | Apps, Fitness, Software |
| Lemonade Stand | 2 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Silberauto | 2 | Estonia | Angel | Apps, Fitness, Software |
| SMOK Ventures | 2 | Poland, United States, Ukraine | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Norrsken VC | 2 | Sweden, United Kingdom, Germany | Seed, Series A | Software, Food and Beverage, Health Care |
| Specialist VC | 2 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Atlantic Labs | 1 | Germany, Switzerland, United States | Seed, Series A, Pre-Seed | Health Care, Software, Information Technology |
| Farmak | 1 | Ukraine, Estonia, United States | Seed, Pre-Seed | Health Care, Medical, Mobile |
| Superhero Capital | 1 | Finland, Estonia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Internet |
| Veedoo | 1 | Estonia | Seed | Events, Sports, Fitness |
| Tera Ventures | 1 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, E-Commerce |
| Superangel | 1 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Krokodilli Kapital | 1 | Estonia | Pre-Seed | Medical, Hospital, Health Care |
| Change Ventures | 1 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| European Investment Bank | 1 | France, Germany, Ireland | Debt Financing, Post-IPO Debt | Biotechnology, Health Care, Software |
| Crosslight Partners | 1 | Sweden, Estonia | Seed | Biotechnology, B2B, Medical |
| Honey Badger Capital OÜ | 1 | Estonia | Seed | FinTech, GreenTech, Health Care |
| Think Bigger Capital | 1 | Estonia | Pre-Seed | Pharmaceutical |
| Sie Ventures | 1 | Spain, Estonia, United Kingdom | Seed, Series B | CRM, SaaS, Mobile |

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