Potential investors

VCs

Filtered by stage, focus area and b2c focus:

https://airtable.com/appZlSZ7bSZeSHOnl/shrHvHjExnm3tFb4X/tblUdpjiyqtQCtiuR

Incubators

• https://teaduspark.ee/en/incubation/sparkup-incubator/

Accelerators

• Tehnopol 🇪🇪

• BioBoosters 🇫🇮

• Buildit 🇱🇻

• YC 🇺🇸

Grants

• Prototron ← 35K

• EIT digital https://www.eitdigital.eu/ 🇪🇺

• Swedbank biodiversity grants

• EAS https://eas.ee/ ← expect company to be less than 10yo + full-time workers

• Startup estonia ← expect company to be less than 10yo + full-time workers

Angels

https://www.lift99.co/blog/most-active-estonian-angel-investors

https://airtable.com/appxVLA7SwaDgTEOR/shrU9hC4npbU4mY0N/tblQLsCnbSGR1PLDl?filter_Country=Estonia

1. Andres Märtin - no particular focus. Ticket: €5-20k

2. Andrus Purde - focus: SaaS and sharing economy/networks. Ticket: €10-25k

3. Argo Virkebau - focus: tech, adtech, fintech, sharing economy, digital transformation; scalability is important; seed and early stage; preferably having some MRR or close to it. Ticket: €10-50k

4. Dag Ainsoo, Wise Guys Ventures fund - focus: early stage B2B startups. Ticket: typically €50k

5. Gerri Kodres, United Angels VC - focus: B2B, SaaS, marketplaces, fintech; stage: from (pre-)seed, preferably with first signs of market traction, to early-A; no longer does angel investments privately, mainly through the fund instead. Ticket: €100k to €1m, typically in the range of €200k-300k

6. Henri Treude, Spring Capital - focus: prefer seed stage with ca €10K MRR traction or equivalent; the round should give 18 months runway and clear path to series A. Ticket: €100K as part of bigger rounds (typically 300k to 1M)

7. Ivar Siimar, Trind.vc - focus: does not do angel investments anymore privately; mainly through the fund instead; startup’s primary focus in Baltics, Finland; co-invests with business angels, seed rounds; expects some commercial traction (i.e., €20k revenue/MRR). Ticket: €100k-€3m

8. Ivo Remmelg - focus: currently has pipeline sources from own circle and intros, also from Estban dealflow; prefers B2B SaaS solutions, pre-seed and seed stages; has invested from 5k to 900k, from preseed to secondary. Ticket: €10-€50k

9. Jaak Roosaare - focus: preferably has reached some sales from customers; strong background for founders; active with debt financing also. Ticket: €10-50K

10. Jaan Tallinn, Skype mafia - focus: mainly looking for deep technologies with significant disruption potential; not particularly sector-focused; tends not to lead the rounds, hence mainly looking for a later stage. Ticket: typical ticket size begins from $/€500K

11. Jevgeni Kabanov - no particular focus. Ticket: €10-€50K

12. Kaspar Hanni - focus: B2B SaaS and B2B tech-assisted services; mostly pre-seed and seed stage. Ticket: €10-30K

13. Kristjan Raude - focus: looking for minimum of two-founder startups; founders must not only have great vision, but hard skills as well; prefers a seed investment to a startup, which has already market traction; proof of product/service is needed in the target market; has strong contacts in Africa, LATAM and Estonia. Ticket: €5-50K

14. Kuido Lepik - focus: likes to invest quite early - premoney valuation up to €1,5M; most important - founders’ motivation and capability to get things done; likes scaleable business (SaaS) and in sectors that he can understand; tries to avoid capital, research intensive sectors. Ticket: lately €5K and €10K

15. Lauri Isotamm (Siena)

16. Lev Dolgatsjov - focus: technology startups. Ticket: €5-10K

17. Madis Müür - focus: invests full time, mostly on Funderbeam platform, 20+ investments like Cleveron, LeapIN/Xolo, Ampler; mostly looks for simpler B2C stuff that maybe doesn't grow so fast, is easier to understand for everyday investor but has less risks also, looks for companies that can help raise a meaningful round on Funderbeam, so starting also from €5k+ MRR

18. Madis Pajo - focus: looking for great teams with strong sales skills. Ticket: €1K to €20K

19. Martin Henk - focus: mostly B2B, SaaS. Ticket: ~€50K

20. Martin Villig - focus: early stage startups with working prototypes in platforms/mobile space; can consider other types of startups with very strong team and traction. Ticket: €10-50K

21. Märt Kelder - focus: likes to focus on B2B, SaaS; although marketplaces/Uber-like stuff are also of interest. Ticket: €25K-50K

22. Ott Kaukver - focus: mostly invests in cloud-based startups and services; looking for a clear hypothesis for a product - clear customer pain with a solution to solve that pain; tends to pass on the startups that are very early in their journey (idea phase, no validation). Ticket: doesn't differentiate investment by ticket size, evaluates each deal separately

23. Priit Rohumaa

24. Ragnar Sass - focus: mainly B2B SaaS + moonshots that can have a huge impact on human lives globally. Preferably with clear first traction. Super fine to join as a first investor who can follow up with 30+ intros to VCs & angels. Investments include: Veriff, Printify, Restream, Hugo, Klaus, AXdraft, Dashbird etc. Ticket: €10-50k

25. Raido Pikkar, thorgateventures.com - focus: privately-backed boutique incubator that takes you up to the A-round & hand-over to friends who handle larger rounds; B2B, SAAS, early-stage up to even only a thousand in MRR; likes to invest where he has experience - https://thorgate.eu/industries/. Ticket: likes to be no more than 33% of any round; €25k-€50k first, and then followup up to €150-€200k

26. Raigo Õunapuu - focus: interest is mainly around SW startups, no specific sector; has not ruled out any sectors; prefers early or very early stage companies. Ticket: €5-€15k

27. Rain Rannu, Superangel - focus: does not do angel investments on his own, only through Superangel; early stage. Ticket: €50-€500k

28. Rain Tamm (Siena)

29. Rait Ojasaar - focus: crafts, foods & bewerages, food-tech, cosmetics, general consumer products, electronic gadgets/devices, games, etc. Ticket: €5k - €20k

30. Rando Rannus - focus: mostly B2B SaaS, but keeping an eye open for other areas as well; mainly early stage with more favourable valuations; pre-revenue - needs to see some traction; life sciences & physical products probably a no-go; tries to select companies where can contribute with hiw know-how, network etc. Ticket: €5-€10k

31. Rein Lemberpuu, Contriber - focus: 1-year startup de-acceleration program that focuses on startup founders' personal development instead of the company; any startup and technology company that is facing a scaling period either from a team (30+) or revenue (50k+ monthly) perspective would be a sweet spot. Ticket: €50-€200k

32. Riivo Anton (United Angels VC)

33. Sten Tamkivi - focus: focus on the thesis behind Teleport: creating a more open and borderless world, making it easier for people to figure out where to live and work, etc. Transferwise, Veriff, Xolo (former LeapIN), SafetyWing, Roam, Teleport/Topia as past examples of investing into a borderless world thesis. Ticket: €25-50k; plus follow-ons later

34. Taavi Tamkivi, Focus: teams & sectors where could contribute: crime detection, compliance, regtech- data-driven challenges - modelling, machine learning, challenging metrics & KPI's, emotional match & network connection to founders; Ticket: €10-25k

35. Veiko Visnapuu - focus: prefers a team primarily based in Estonia or nearby; pre-seed, seed, early stage, no sector bias. Ticket: €10-€100k

36. https://fff.vc/members-directory

Crowdfunding

• https://fundwise.me/en

• kickstarter

Syndicate

• https://badideas.fund/

• EstBAN

https://www.vestbee.com/blog/articles/estonian-startup-and-vc-ecosystem-report