# Top 50 Internet Startup Investors in Estonia in May 2026

## Icebreaker.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 11
- 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.

## Jaan Tallinn
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Software, Artificial Intelligence, Internet

Jaan Tallinn is the Co-founder of Future of Life Institute.

## Creandum
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 3
- Stages: Series A, Seed, Series B
- Focus: Software, Information Technology, Mobile

We support early-stage founders in building global, category-defining companies. From Seed to IPO and beyond.

## Lemonade Stand
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 3
- 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.

## Global Founders Capital
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Financial Services, Software, FinTech

Over the past two decades, GFC have backed over five hundred entrepreneurs worldwide, e.g. Facebook, LinkedIn, Slack, and Away Travel.

## 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.

## Parallax Ventures
- Type: VC Fund
- Location: São Paulo, Sao Paulo, Brazil
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: FinTech, Financial Services, Bitcoin

Founded in 2018, Parallax Ventures is a Fintech-focused top quartile Venture Capital firm that focuses on early-stage investments, baking best-in-class entrepreneurs in the Financial Services industry. The firm invests in Fintechs across all subsectors of Financial Industry, including Open Finance, FMI, Exchanges, BaaS, IaaS, B2B SaaS,Blockchain/Web3, Credit, Wealth Management tech, and Productivity, among others. Parallax has invested in Fintechs in Brazil, USA, and Europe.

## Superangel
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- 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

## Tera Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Artificial Intelligence, E-Commerce

Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Baltics, Scandinavia and CEE, disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to - the UK, the US, and Asia. With presence in Estonia, Finland, and California,Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from pre-seed and seed stage to successful exit. While investing we do not take a controlling shareholding as they believe that the management of the company should be adequately motivated by its shareholding in the company.

## Andrus Purde
- Type: Angel
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Software, Public Transportation, Internet

Experienced startup marketer. Co-founder and CEO of Outfunnel. Skype and Pipedrive alumni. Angel investor.

## 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.

## Priit Kasesalu
- Type: Angel
- Relevant deals: 2
- Stages: Seed
- Focus: iOS, Apps, Email

Priit is heavily involved in assessing all of ASI's new technology investments.Before ASI, Priit played an integral role in developing Kazaa and later Skype; indeed, he continues to work at Skype as a core library developer.While cryptography and data communication are his areas of expertise, his other passion is computer gamedevelopment. Together with Ahti and Jaan, he wrote the first Estonian commercial computer game, Kosmonaut.When he isn't using his innate ability to solve complex technical problems, Priit enjoys good company, gourmet restaurants and biking.He holds a degree in automation and system technology from Tallinn University of Technology.

## Kristjan Vilosius
- Type: Angel
- Relevant deals: 2
- Stages: Seed, Angel, Pre-Seed
- Focus: Software, Information Technology, E-Commerce

Kristjan Vilosius - Co-Founder and CEO @ Katana

## TMT Investments
- Type: VC Fund
- Location: St. Helier, NA - Jersey, Jersey
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, SaaS, Social Media

TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 65 companies to date. The Company’s objective is to generate an attractive rate of return for shareholders,predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com.

## John Tsioris
- Type: Angel
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Travel, Internet, Blockchain

John Tsioris is the CEO at InstaShop.

## ZAKA VC
- Type: VC Fund
- Location: Prague, Hlavni mesto Praha, Czech Republic
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, Artificial Intelligence, Machine Learning

ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region.

## Apostolos Apostolakis
- Type: Angel
- Location: Athens, Attiki, Greece
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: E-Commerce, Software, Apps

Apostolos is a serial entrepreneur turned investor. He started his career at Boston Consulting Group where he spent 2 years consulting businesses. On his entrepreneurial path, he has co-founded e-shop.gr, Openfund, e-food, doctoranytime and was a key investor in Taxibeat. Since 2010 he has invested and supported a large number of startups with afocus on e-marketplaces and SaaS. He studied civil engineering at NTUA and holds an MBA from Columbia Business School.

## Nick Handel
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed
- Focus: SaaS, Big Data, Data Integration

Nick Handel is Head of Data Science at Branch International. Past: Product Manager for machine learning at Airbnb.

## SkyVision Capital
- Type: VC Fund
- Location: Hong Kong, Hong Kong Island, Hong Kong
- Relevant deals: 1
- Stages: Seed, Initial Coin Offering
- Focus: Blockchain, Gaming, Cryptocurrency

SkyVision Capital (SVC) promotes new, open decentralized technology and its development. We are a Crypto Fund that is dedicated to incubating and investing in founders of tomorrow, today.

## Tagus Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: Cryptocurrency, FinTech, Blockchain

Enable talented people to build innovative businesses based on blockchain technology that will disrupt inefficient and inequitable industries, such as

## Akim Arhipov
- Type: Angel
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, iOS, Apps

Akim is an Estonian entrepreneur who has cofounded BAASIS ID with Sergey Shcherbak – all-in-one identity verification (KYC) platform for financial institutions and governmental agencies in Southeast Asia. Akim’s team was participated in creation of electronic ID system and eGovernment portals for Estonian government.BAASIS ID use biometric facialrecognition, passport / ID validation, bank account validation and sanctions screening in automatic way providing final approval results in 3 minutes.For businesses, BAASIS ID means the end of vast, vulnerable databases of customer data – hugely reducing the risk of regulatory issues, fraud and the reputational damage of a breach providing the data storage in the blockchain.Proud to be a facilitator of reputation economy among Southeast Asia regulatory sandboxes and governmental agencies, like Security and Exchanges Commision of Thailand and Bank Negara Malaysia. Akim and his team work together with Bahrain government in order to build electronic identity system for citizens.Previously a co-founder of successful companies in IT and transportation sectors – OnniBus.com and SuperBus.com. The first one is the most successful commercial bus operator in Finland: 20 lines, 200+ daily departures, 6+ million passengers served annually.

## Ragnar Sass
- Type: Angel
- Relevant deals: 1
- 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.

## LocalGlobe
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Financial Services, E-Commerce

Seeding ambitious founders at places like @citymapper, @improbableio,@teamkano, @moo, @songkick,@seedcamp, @transferwise and @zoopla since 1999. Who's next?

## Kristjan Raude
- Type: Angel
- Relevant deals: 1
- 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.

## Nomad Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Software, Art, Marketplace

Nomad Capital is a seed stage fund that invests in emerging companies that are developing marketplaces and B2B software.

## Redstone
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Software, FinTech, E-Commerce

The Redstone team is an international and diverse group of serial entrepreneurs, investors, investment professionals, tech analysts and data scientists.

## Techstars Ventures
- Type: VC Fund
- Location: Boulder, Colorado, United States
- Relevant deals: 1
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, SaaS, Information Technology

Techstars Ventures (formerly Bullet Time Ventures) is the venture capital arm of Techstars. Bullet Time Ventures is a $150 million fund based in Boulder, Colorado.

## Chris Schagen
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, SaaS

I help developer tech entrepreneurs beginning from crazy idea, through MVP stage, product market fit, go-to-market fit, up to go-to-market scaling. Also I help you get your first 1000 leads. Before, I was the CMO at Contentful and helped it grow from $0m to $50m in ARR, and before that founded 3 companies, including Wooga (exit to Playtika),Linklift, and Mundwerk.I obsess about being customer-centric and customer-driven in building your organization. And I am the curmodgeon who tells you things you need to (but probably don't want to) hear.

## Intel Capital
- Type: VC Fund
- Location: Santa Clara, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Information Technology, Enterprise Software

Intel Capital is uniquely positioned to help build the companies of tomorrow. Our investment team is backed with deep domain knowledge and the resources of Intel to assist companies in their paths to success.

## Markus Villig
- Type: Angel
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Seed, Angel
- Focus: E-Commerce, FinTech, Financial Services

Markus Villig is founder and CEO of Taxify. He attended University of Tartu.

## Matt Clifford
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, FinTech, SaaS

Matt co-founded EF after being a consultant at McKinsey & Co. Prior to EF Matt spent his time studying at MIT fuelled by an obsession with R, Python and unusual datasets. EF is the best place for Europe’s top technical individuals to meet and build world-changing startups in London.They select purely on the basis of technical talent, so youcan apply before you have a team or an idea. The intensive 6-month programme is designed to give you the best possible support in the first 200 days of your startup’s life.They have created over 40 startups now worth over $300 million. The startups are funded by some prestigious investors including Balderton Capital, Index Ventures, Octopus Investments and Y Combinator.

## UNIQA Ventures
- Type: VC Fund
- Location: Vienna, Wien, Austria
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Insurance, Health Care, FinTech

UNIQA Ventures GmbH is the Venture Capital arm of UNIQA Insurance Group AG, a leading insurance carrier in Central & Eastern Europe and a pioneer in Corporate-backed Venture Capital in Austria and CEE. Based in Vienna, Austria, the firm is investing in outstanding business models driven by strong teams and a clear vision to shape the future ofkey industries. Investment areas are the future of Health, Mobility, Intelligent Home and FinTech/InsurTech as well as enabling technologies such as IoT, Blockchain, ML/AI.

## LAUNCHub Ventures
- Type: VC Fund
- Location: Sofia, Grad Sofiya, Bulgaria
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, SaaS, Enterprise Software

LAUNCHUB is a leading early-stage venture capital fund focused on investing in startups in South-Eastern (SEE) and Central-Eastern (CEE) Europe. 

## Cryptomeria Capital
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed
- Focus: Blockchain, FinTech, Cryptocurrency

We help you to enter the Chinese crypto market. We invest in blockchain projects.

## Element Ventures
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: FinTech, Financial Services, Payments

Investors in tomorrow's financial technology. Element partners with European fintech firms targeting the biggest markets in financial services utilising technology to deliver competitive advantage.

## Tomas Slimas
- Type: Angel
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed
- Focus: Cooking, Internet, Software

Tomas Slimas - Co-Founder and CMO @ Oberlo

## Peter Sandberg
- Type: Angel
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 1
- Stages: Angel, Pre-Seed, Secondary Market
- Focus: Internet, Artificial Intelligence, FinTech

Peter Sandberg is a co-founder of Nordic Secondary Fund, and a venture partner at Startup Wise Guys.
He has extensive experience as a Business Angel and in asset management.

## Truffle Capital
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Financial Services, Health Care

Business Builders, Truffle

## Plural VC
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: FinTech, Internet, Payments

Plural is a venture community of regulatory experts, operators, and investors dedicated to providing early-stage companies with the investment and intellectual capital they need to build the future of finance.

## Jdac
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed
- Focus: FinTech, Internet, Payments

We are committed to supporting our portfolio companies at every stage of their journey and nurturing our global relationships.

## Digital Horizon
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Financial Services, Software, FinTech

## Build Setup

## Greycroft
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Internet

Venture capital and technology investments

## Tiny VC
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, SaaS, Artificial Intelligence

Backing great companies when they're tiny

## Hive Hatch
- Type: VC Fund
- Location: Greenwich, Connecticut, United States
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Series B
- Focus: Software, E-Commerce, Marketing

Hive Hatch, a venture capital firm and studio, invests financial, human, and social capital in early stage founders to help them validate, build, and launch their SaaS startups.

## Acton Capital
- Type: VC Fund
- Location: München, Bayern, Germany
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: E-Commerce, Internet, Software

Since 1999, Acton Capital invests in tech-enabled business models to create value for the long run. We support world-class teams on their way to market leadership.

## Everywhere Ventures (The Fund)
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series B
- Focus: Software, Health Care, FinTech

Everywhere Ventures (The Fund) is a first-of-its-kind early-stage venture fund created ​by founders for founders​ to support the next generation of entrepreneurs.Everywhere Ventures is a community-powered venture investing platform that integrates the capital, expertise, and mentoring of experienced founders and operators across ten micro funds.The Fund's $50M+ under management comes almost exclusively from the over 500 founders and operators who are its limited partners. Everywhere Ventures operates from the belief that those who have actually built successful companies are best suited to advise and support early-stage startups. Everywhere Ventures invests in pre-seed deals globally usually in the first financing round the company raises. Emphasis is placed on purpose-driven teams across money, health and work verticals.

## Project A Ventures
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, E-Commerce, Information Technology

Project A is an early-stage venture capital firm, combining financial and operational support for technology companies. In addition to $600 M in assets under management, Project A provides its portfolio companies with a wide range of operational support services. This includes more than 100 experts from key areas such as software engineering,business intelligence, marketing, and recruiting. The portfolio includes companies such as Trade Republic, sennder, KRY, Catawiki, WorldRemit, Spryker, and Voi.

## Taavet Hinrikus
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: FinTech, Financial Services, Software

Taavet Hinrikus is co-founder and CEO of TransferWise. Prior to starting TransferWise, Taavet was Skype’s director of strategy until 2008, starting as its first-ever employee. One of the World Economic Forum's Tech Pioneers, Taavet is an adviser to Prime Minister of Estonia on the digital agenda. He’s also a mentor and angel investor; hisinvestments include Tweetdeck, Mendeley, OMGPOP, Property Partner, Sunrise, Improbable and Mapillary.

## Kaarel Kotkas
- Type: Angel
- Relevant deals: 1
- Stages: Seed, Series A, Angel
- Focus: Gaming, Software, 3D Technology

Kaarel Kotkas is a Co-Founder and CEO at Veriff.

## Change Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- 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.

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