# Top 5 Hospitality Startup Investors in Estonia in May 2026

## Specialist VC
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 3
- Stages: Seed, Pre-Seed
- Focus: Information Technology, Software, FinTech

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

## Martin Rand
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed
- Focus: Software, CAD, Hospitality

Martin Rand is the CEO and Co-Founder of Pactum.com. Contributor to Forbes.com.

## Timo Rein
- Type: Angel
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Angel, Convertible Note
- Focus: Software, Artificial Intelligence, Human Resources

Timo Rein - Co-Founder @ Pipedrive

## Forward Venture Capital
- Type: VC Fund
- Location: Den Haag, Zuid-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Financial Services, E-Commerce

Forward Venture Capital is a Venture Capital fund that invests in early-stage companies in the US and Europe. We support early stage entrepreneurs and help them accelerate their growth.

## Märt Kelder
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Angel, Pre-Seed
- Focus: Public Transportation, Software, Apps

founder at Voog.

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