# Top 25 Proptech VC (Venture Capital) Funds in Estonia in October 2023

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Zenith Family Office | 4 | Estonia, United States | Pre-Seed | Commercial Real Estate, SaaS, B2B |
| Thorgate Ventures | 3 | Estonia, United Kingdom, Norway | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Pinto Ventures | 3 | United Kingdom, Estonia, Germany | Pre-Seed, Seed, Angel | Financial Services, FinTech, Software |
| Lemonade Stand | 3 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Spring Capital | 2 | Estonia, Finland, United Kingdom | Seed, Pre-Seed, Series A | Software, E-Commerce, SaaS |
| Tera Ventures | 2 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, E-Commerce |
| Iron Wolf Capital | 2 | Lithuania, Estonia, United Kingdom | Seed, Pre-Seed, Series A | Software, Infrastructure, Manufacturing |
| Superangel | 2 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Sunly | 2 | Estonia, France | Pre-Seed, Seed | Solar, CleanTech, Hardware |
| Contrarian Ventures | 2 | Lithuania, United Kingdom, Estonia | Seed, Series A, Pre-Seed | Software, Information Technology, Energy |
| Sillever OÜ | 1 | Estonia | Seed | Hardware, Construction, Machine Learning |
| GFC Rocket Internet | 1 | Brazil, Canada, Estonia | Seed, Angel, Series A | Financial Services, FinTech, Software |
| EdgeCap Partners | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| TrueSight Ventures | 1 | United Kingdom, Sweden, United States | Seed, Pre-Seed, Series A | Software, Financial Services, FinTech |
| Passion Capital | 1 | United Kingdom, United States, Estonia | Seed, Series A, Series B | Software, FinTech, Financial Services |
| Foundamental | 1 | United States, India, Singapore | Seed, Series A, Pre-Seed | Construction, Software, Real Estate |
| BayWa r.e. Energy Ventures | 1 | Israel, Sweden, Estonia | Series B, Seed, Series A | Energy, SaaS, Renewable Energy |
| TMT Investments | 1 | United States, United Kingdom, Estonia | Seed, Series A | Software, SaaS, Social Media |
| Helmes | 1 | Estonia | Series A | Power Grid, Building Material, Natural Resources |
| Change Ventures | 1 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Verve Ventures | 1 | Switzerland, Germany, France | Series A, Seed, Series B | Health Care, Software, Biotechnology |
| Gorilla Capital | 1 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, SaaS |
| Constructive Venture Fund | 1 | Switzerland, France, Sweden | Series A, Series B, Seed | Real Estate, SaaS, Analytics |
| Foreword Ventures | 1 | United Kingdom, United States, France | Seed, Pre-Seed, Series B | Software, FinTech, Financial Services |
| Amalfi Capital | 1 | Estonia, United States, Cayman Islands | Seed, Series A | Beauty, Hardware, Aerospace |

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