In March 2009 25 venture capital industry organizations and persons decided to establish the Estonian Private Equity and Venture Capital Association EstVCA. The main goal of the Association is to vigorously develop the Estonian private equity and venture capital industry and to promote the culture of ambitious entrepreneurship in Estonia.

The managing partner of MTVP Allan Martinson stated that all the parties active in the capital market have a common interest to have more and better companies to invest into. „Venture capital creates successful companies, which are based on business plans and great teams,” said Martinson.  “Estonia has great potential to be the country in the area from where start-ups are launched into the world,” confirmed CEO of Estonian Development Fund Ott Pärna begin_of_the_skype_highlighting     end_of_the_skype_highlighting during the gathering.

Killu Tõugu Sanborn, who is a member of Estonian Development Fund’s International Investment Expert Committee and has a long-term venture capital experience from the USA draw attention to the fact that it is very important to advance Estonian venture capital market. “This is culture of ambition, shaped by success stories and acceptance of failure. In addition it is necessary that supporting players - like lawyers, auditors and consultants – understand the process of startup creation and share the understanding with venture capitalists,” accentuated Killu Tõugu Sanborn.