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

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Superangel | 18 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Specialist VC | 16 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Tera Ventures | 16 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, E-Commerce |
| Icebreaker.vc | 14 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Lemonade Stand | 11 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Change Ventures | 10 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Spring Capital | 9 | Estonia, Finland, United Kingdom | Seed, Pre-Seed, Series A | Software, E-Commerce, SaaS |
| Thorgate Ventures | 8 | Estonia, United Kingdom, Norway | Seed, Pre-Seed | Software, SaaS, Information Technology |
| TMT Investments | 7 | United States, United Kingdom, Estonia | Seed, Series A | Software, SaaS, Social Media |
| Karma Ventures | 7 | Estonia, Sweden, Finland | Series A, Seed, Series B | Software, Artificial Intelligence, Information Technology |
| Gorilla Capital | 6 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, SaaS |
| Trind Ventures | 6 | Estonia, Finland, Latvia | Seed, Series A | Software, Information Technology, Analytics |
| Metaplanet Holdings | 4 | United States, United Kingdom, Estonia | Seed, Series A, Series B | Artificial Intelligence, Software, Machine Learning |
| Tiny VC | 4 | United Kingdom, Germany, United States | Seed, Pre-Seed, Series A | Software, SaaS, Artificial Intelligence |
| Earlybird Venture Capital | 4 | Germany, United States, United Kingdom | Series A, Seed, Series B | Software, Information Technology, Health Care |
| LIFT99 | 4 | Estonia, United Kingdom, El Salvador | Pre-Seed, Seed, Series A | Software, Information Technology, Legal |
| Zenith Family Office | 4 | Estonia, United States | Pre-Seed | Commercial Real Estate, SaaS, B2B |
| Passion Capital | 4 | United Kingdom, United States, Estonia | Seed, Series A, Series B | Software, FinTech, Financial Services |
| Contriber Ventures | 4 | Estonia, Finland, Germany | Seed, Angel, Series A | Software, Apps, 3D Technology |
| EstBAN | 3 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Angel | Software, Information Technology, EdTech |
| LD Capital | 3 | United States, Singapore, United Kingdom | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Gaming |
| Iron Wolf Capital | 3 | Lithuania, Estonia, United Kingdom | Seed, Pre-Seed, Series A | Software, Infrastructure, Manufacturing |
| Union Square Ventures | 3 | United States, United Kingdom, Germany | Series A, Series B, Series C | Software, Financial Services, FinTech |
| Creandum | 3 | Sweden, Germany, United States | Series A, Seed, Series B | Software, Information Technology, Mobile |
| TechOne VC | 3 | Turkey, United States, Estonia | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Inventure | 3 | Finland, Sweden, Denmark | Seed, Series A | Software, Information Technology, Health Care |
| Ukrainian Startup Fund | 3 | Ukraine, United States, Estonia | Pre-Seed, Seed, Grant | Software, Information Technology, SaaS |
| Parallax Ventures | 2 | Brazil, Estonia, United States | Seed, Series A, Series B | FinTech, Financial Services, Bitcoin |
| EGIAD Angels | 2 | Turkey, Estonia | Seed, Angel | Software, E-Commerce, Information Technology |
| Decacorn Capital | 2 | United States, Israel, Singapore | Seed, Series B | Information Technology, Software, Artificial Intelligence |
| Funderbeam | 2 | Estonia, United Kingdom | Seed, Pre-Seed, Equity Crowdfunding | Apps, FinTech, Software |
| ZBS CAPITAL | 2 | United States, Singapore, India | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Financial Services |
| Atomico | 2 | United States, United Kingdom, Germany | Series A, Series B, Series C | Software, Information Technology, Artificial Intelligence |
| NGC Ventures | 2 | United States, Singapore, Hong Kong | Seed, Series A | Blockchain, Cryptocurrency, Gaming |
| Rubio Impact Ventures | 2 | The Netherlands, United States, United Kingdom | Seed, Series A | Software, Education, Food and Beverage |
| Silberauto | 2 | Estonia | Angel | Apps, Fitness, Software |
| Insta Ventures | 2 | United States, Estonia, France | Seed, Pre-Seed | E-Commerce, Food and Beverage, Grocery |
| ZAKA VC | 2 | Germany, United Kingdom, Austria | Seed, Pre-Seed | Software, Artificial Intelligence, Machine Learning |
| Magnus Capital | 2 | Singapore, United States, United Kingdom | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Gaming |
| SquareOne | 2 | Germany, United States, Poland | Seed, Series A | Software, SaaS, E-Commerce |
| Mapleblock Capital | 2 | Singapore, Switzerland, United States | Seed, Series A | Blockchain, Cryptocurrency, FinTech |
| Black Pearls VC | 2 | Poland, United States, United Kingdom | Seed, Pre-Seed | Software, Artificial Intelligence, FinTech |
| Curiosity VC | 2 | Finland, The Netherlands, Denmark | Seed, Pre-Seed, Series A | Software, Artificial Intelligence, Information Technology |
| Jsquare | 2 | Estonia, United States, Canada | Seed, Series A, Pre-Seed | Blockchain, Cryptocurrency, FinTech |
| The Spartan Group | 2 | United States, Singapore, United Kingdom | Seed, Series A | Blockchain, Cryptocurrency, Financial Services |
| Demium Capital | 2 | Spain, Portugal, Poland | Pre-Seed, Seed, Series A | Software, Health Care, Information Technology |
| Global Founders Capital | 2 | United States, Germany, United Kingdom | Seed, Series A, Pre-Seed | Financial Services, Software, FinTech |
| BlackFin Capital Partners | 2 | France, Germany, Denmark | Private Equity, Series A, Series B | Financial Services, FinTech, Payments |
| LocalGlobe | 2 | United Kingdom, United States, France | Seed, Series A | Software, Financial Services, E-Commerce |
| BADideas.fund | 2 | Latvia, Estonia, Ukraine | Seed, Pre-Seed | SaaS, FinTech, Software |

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