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The Founder's Handbook
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The Perfect Pitch Deck
Download Our List of The Top 100 Accelerators & Incubators

This free sheet contains 100 accelerators and incubators you can apply to today, along with information about the industries they generally invest in.

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100 Accelerators & Incubators
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This free sheet contains 100 VC firms, with information about the countries, cities, stages, and industries they invest in, as well as their contact details.

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VC Firm Lead Magnet
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100 Top Unicorns

Top 4 Venture Capital Firms in Estonia (2026)

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CTA

Estonia's startup scene is famously vibrant, and its venture capital firms are a big reason why. Firms like Startup Wise Guys have backed over 600 companies, showing just how much activity is happening in this small country.

Beyond them, you'll also find funds focusing on everything from deep tech to later-stage growth. This gives founders plenty of options when looking for the right partner.

Below is our list of the best 4 VC firms in Estonia.

Failory's Top 4 Picks

Fundraising OS
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Fundraising OS

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As one of Europe's most active early-stage investors, Startup Wise Guys runs an accelerator program for B2B startups in sectors like SaaS, Fintech, and Cybersecurity. Their intensive, mentor-driven approach helps turn tech founders into entrepreneurs, achieving a portfolio survival rate of over 80%.

HeadquartersTallinn, Harjumaa, Estonia
Year Founded2012
FoundersChristian Testman, Cristobal Alonso, Herty Tammo, Jon Bradford, Mike Reiner
Investment StageEarly Stage, Seed
Nº of Investments636 (147 as Lead Investor)
Nº of Exits14
Contactinfo@startupwiseguys.com

Specializing in late seed and Series A rounds, Karma Ventures backs Europe's most promising deep tech startups that have unique technology and global ambitions. They guide entrepreneurs through commercial, strategic, and technical growth, helping them navigate the path to scale.

HeadquartersTallinn, Harjumaa, Estonia
Year Founded2016
FoundersKristjan Laanemaa, Margus Uudam, Tommi Uhari
Total Funding€170M
Average Check Size€5M
IndustriesDeep Tech & Hard Science
Investment StageEarly Stage, Seed, Series A
Nº of Investments45 (27 as Lead Investor)
Nº of Exits5
Top Portfolio StartupsRealeyes, Xolo, Minut

Run by entrepreneurs for entrepreneurs, Superangel invests in early-stage technology builders across the Baltics and Nordics. As early backers of global successes like Bolt and Pipedrive, they operate with a unique model where founders they once supported now invest back into the fund.

HeadquartersTallinn, Harjumaa, Estonia
Year Founded2018
FoundersMarek Kiisa, Rain Rannu, Veljo Otsason
Investment StageEarly Stage, Seed
Nº of Investments69 (26 as Lead Investor)
Nº of Exits3
Raison Logo

4. Raison

Raison's investment platform opens up access to late-stage venture deals in prominent private companies, including SpaceX and Klarna. They make this typically exclusive asset class available to a wider audience, alongside providing broader asset management and investment consulting services.

HeadquartersTallinn, Harjumaa, Estonia
Year Founded2017
FoundersAlexander Zaytsev, Andrey Berezin, Andrey Kononykhin
Investment StageLate Stage
Nº of Investments10
Nº of Exits2 (2 IPO'd)
Contactinfo@raison.app / +372 660 0288

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