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

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Superangel | 33 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Specialist VC | 28 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Tera Ventures | 23 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, E-Commerce |
| Lemonade Stand | 22 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Icebreaker.vc | 20 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Change Ventures | 19 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Thorgate Ventures | 12 | Estonia, United Kingdom, Norway | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Spring Capital | 10 | Estonia, Finland, United Kingdom | Seed, Pre-Seed, Series A | Software, E-Commerce, SaaS |
| Karma Ventures | 10 | Estonia, Sweden, Finland | Series A, Seed, Series B | Software, Artificial Intelligence, Information Technology |
| TMT Investments | 8 | United States, United Kingdom, Estonia | Seed, Series A | Software, SaaS, Social Media |
| Ambient Sound Investments | 8 | Estonia, United States, United Kingdom | Seed, Series A | Internet, Software, E-Commerce |
| Gorilla Capital | 7 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, SaaS |
| Passion Capital | 7 | United Kingdom, United States, Estonia | Seed, Series A, Series B | Software, FinTech, Financial Services |
| Trind Ventures | 7 | Estonia, Finland, Latvia | Seed, Series A | Software, Information Technology, Analytics |
| Metaplanet Holdings | 6 | United States, United Kingdom, Estonia | Seed, Series A, Series B | Artificial Intelligence, Software, Machine Learning |
| Sunly | 5 | Estonia, France | Pre-Seed, Seed | Solar, CleanTech, Hardware |
| LIFT99 | 5 | Estonia, United Kingdom, El Salvador | Pre-Seed, Seed, Series A | Software, Information Technology, Legal |
| Iron Wolf Capital | 5 | Lithuania, Estonia, United Kingdom | Seed, Pre-Seed, Series A | Software, Infrastructure, Manufacturing |
| Contrarian Ventures | 4 | Lithuania, United Kingdom, Estonia | Seed, Series A, Pre-Seed | Software, Information Technology, Energy |
| Zenith Family Office | 4 | Estonia, United States | Pre-Seed | Commercial Real Estate, SaaS, B2B |
| Enterprise Estonia | 4 | Estonia | Grant, Seed, Pre-Seed | Mobile Apps, CleanTech, Manufacturing |
| EstBAN | 4 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Angel | Software, Information Technology, EdTech |
| Inventure | 4 | Finland, Sweden, Denmark | Seed, Series A | Software, Information Technology, Health Care |
| Ukrainian Startup Fund | 4 | Ukraine, United States, Estonia | Pre-Seed, Seed, Grant | Software, Information Technology, SaaS |
| Shima Capital | 4 | United States, United Kingdom, Singapore | Seed, Pre-Seed | Blockchain, Cryptocurrency, Gaming |
| BlackFin Capital Partners | 4 | France, Germany, Denmark | Private Equity, Series A, Series B | Financial Services, FinTech, Payments |
| Vestman Energia | 4 | Estonia | Seed, Pre-Seed | Water, Software, Logistics |
| Tiny VC | 4 | United Kingdom, Germany, United States | Seed, Pre-Seed, Series A | Software, SaaS, Artificial Intelligence |
| AU21 Capital | 4 | Singapore, United States, United Kingdom | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Financial Services |
| Earlybird Venture Capital | 4 | Germany, United States, United Kingdom | Series A, Seed, Series B | Software, Information Technology, Health Care |
| Cryptomeria Capital | 4 | Estonia, Canada, United States | Seed | Blockchain, FinTech, Cryptocurrency |
| ff Venture Capital | 4 | United States, Canada, Poland | Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Verge HealthTech Fund | 4 | Singapore, Estonia, Taiwan | Seed, Pre-Seed | Health Care, Medical Device, Medical |
| Contriber Ventures | 4 | Estonia, Finland, Germany | Seed, Angel, Series A | Software, Apps, 3D Technology |
| Creandum | 3 | Sweden, Germany, United States | Series A, Seed, Series B | Software, Information Technology, Mobile |
| Superhero Capital | 3 | Finland, Estonia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Internet |
| ZBS CAPITAL | 3 | United States, Singapore, India | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Financial Services |
| Decacorn Capital | 3 | United States, Israel, Singapore | Seed, Series B | Information Technology, Software, Artificial Intelligence |
| The Spartan Group | 3 | United States, Singapore, United Kingdom | Seed, Series A | Blockchain, Cryptocurrency, Financial Services |
| Digital Strategies | 3 | Canada, Estonia, Singapore | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Financial Services |
| Black Pearls VC | 3 | Poland, United States, United Kingdom | Seed, Pre-Seed | Software, Artificial Intelligence, FinTech |
| Union Square Ventures | 3 | United States, United Kingdom, Germany | Series A, Series B, Series C | Software, Financial Services, FinTech |
| Yolo Investments | 3 | Estonia, United States, Canada | Seed, Series A | Information Technology, Cryptocurrency, Internet |
| Genblock Capital | 3 | United States, Singapore, Switzerland | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Gaming |
| NGC Ventures | 3 | United States, Singapore, Hong Kong | Seed, Series A | Blockchain, Cryptocurrency, Gaming |
| LD Capital | 3 | United States, Singapore, United Kingdom | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Gaming |
| TechOne VC | 3 | Turkey, United States, Estonia | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Blockchain Founders Fund | 3 | United States, United Kingdom, Canada | Seed, Pre-Seed | Blockchain, Cryptocurrency, Financial Services |
| BADideas.fund | 3 | Latvia, Estonia, Ukraine | Seed, Pre-Seed | SaaS, FinTech, Software |
| Pinto Ventures | 3 | United Kingdom, Estonia, Germany | Pre-Seed, Seed, Angel | Financial Services, FinTech, Software |

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