Our members and partners are all key industry players. Want to join?



EstVCA members and associate members are the most influential firms and decision-makers across the industry, comprising leading Private Equity & Venture Capital, Mezzanine, Real Estate and Infrastructure funds, Family Offices, and institutional investors as well as various advisors active in the field. We also work very closely with all the key players in the ecosystem, listed in the "Collaboration Partners & Friends" section.

  • Want to join us? - click HERE to submit your request
  • Have a look at the EstVCA membership categories in detail - HERE
Family Office


Family Office
Status: Family Offices Contact: www.asi.ee
Private Equity


Private Equity
Status: Limited Partners Contact: www.baltcap.com
BaltCap is the largest private equity firm in the Baltics focusing on buyout, growth capital, venture capital and infrastructure investments.

BaltCap has a strong presence in all three Baltic countries, Finland, Sweden, and Poland with local offices and an experienced team.

Since 1995, BaltCap has been managing several generations of private equity funds with total capital of over €650 million and has completed about 100 platform investments.

BaltCap is a member of Invest Europe (www.investeurope.eu), Estonian Private Equity and Venture Capital Association (www.estvca.ee), Latvian Venture Capital Association (www.lvca.lv), Lithuanian Venture Capital Association (www.vca.lt) and a signatory of the United Nations Principles for Responsible Investment (UNPRI) since 2008.

BPM Capital

Status: Buyout/ Growth/ Mezzanine Contact: www.bpmcapital.eu
Operating out of two offices in Tallinn, Estonia and Warsaw, Poland, BPM maintains strong presence in the target markets. BPM is an independent investment company with no ties to any financial institutions. It is managed by a team of four partners with extensive experience in mezzanine investing and an established contact network in the target region. BPM has capital commitments of EUR 70 million, supported by a prominent investor base, which includes among others, the European Investment Fund and the European Bank for Reconstruction and Development.
Venture Capital

Change Ventures

Venture Capital
Status: Venture Capital Investment Range: Seed Contact: http://www.changeventures.com/
A seed-stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world. Typically invests up to $500k in technology startups with a preference for B2B and SaaS businesses.
Limited Partner


Limited Partner
Status: Limited Partners Contact: www.ebrd.com
Since our establishment in 1991 we have become the largest financial investor in our region of operations which stretches from central Europe to central Asia and the southern and eastern Mediterranean. With the ability and willingness to bear risk on behalf of our clients, we help their countries in the region to become open, market economies. We are owned by 64 countries, the European Union and the European Investment Bank.
Real Estate

Eften Capital

Real Estate
Status: Real Estate Contact: www.eften.ee
EfTEN Capital AS is an asset management company, founded in 2008, specializing in real estate investments in the Baltic States. The company is managing EfTEN Kinnisvarafond AS and Balti Kinnisvaraportfell AS. The company also offers private commercial real estate portfolio management services.
Limited Partner

The C. Ehrnrooth Family Office companies:

Limited Partner
Investment Range: Seed Contact: https://www.cefo.lu

We at CEFO serve as the investment advisory function for the C. Ehrnrooth family businesses. At CEFO, investing is our passion. 

Our investment approach is driven by intellectual curiosity, combined with a profound understanding of entrepreneurs and financial markets.

Our people-focussed approach combined with a very long investment horizon enable us to be different and explore opportunities that most market participants can’t. This enables us to be a trusted partner to the very best investors.

Limited Partner

European Investment Fund

Limited Partner
Status: Limited Partners Contact: http://www.eif.com

We are a specialist provider of risk finance to benefit small and medium-sized enterprises (SME) across Europe. We are part of the EIB Group; our shareholders are the European Investment Bank (EIB), the European Commission and a wide range of public and private banks and financial institutions.

We carry out our activities using either our own resources or those provided by the European Investment Bank, the European Commission, by EU Member States or other third parties. By developing and offering targeted financial products to our intermediaries, such as banks, guarantee and leasing companies, micro-credit providers and private equity funds, we enhance SMEs access to finance.

Venture Capital / Foreign Fund


Venture Capital / Foreign Fund
Status: Venture Capital Investment Range: Seed Contact: https://www.icebreaker.vc
About Icebreaker.vc:

Icebreaker.vc is a team of individuals from different backgrounds brought together by a passion to support phenomenal founders to take their ideas forward and build the world’s strongest tech companies. Since 2017 we have invested in over 90 (and counting) amazing teams from Finland, Estonia and Sweden.

At the center of everything we do are people; founders, their teams and how we can support them to take their visions from zero to seed and beyond. We typically back founders who have deep expertise in the domain they are disrupting and are bringing a unique take to a billion-dollar market. No business is too early for us to invest in!

LinkedIn: linkedin.com/company/icebreaker-vc
Twitter: twitter.com/icebreakervc
Media inquiries
: info@icebreaker.vc
Team: airtable.com

Venture Capital / Foreign Fund

Iron Wolf Capital

Venture Capital / Foreign Fund
Status: Venture Capital/ Secondary Investment Range: Seed Contact: https://www.ironwolfcapital.com
Iron Wolf Capital is a seed stage VC fund from the Baltics investing in teams with disruptive technologies and with global mindsets. Our sights are firmly set on funding the most promising and ambitious startups in the New Nordics region. We match that with our own unique blend of hands on entrepreneurial and investment experience of building successful businesses and networks in many continents of the world.
Family Office


Family Office
Status: Family Offices Contact: www.kaamos.ee

Established in 2002, the Kaamos Group is an Estonian capital-based company which operates in the area of property development, construction and the timber industry.

Kaamos refers to the polar night – an exotic natural phenomenon which only occurs in the Nordic countries. It is beautiful to see and reminds us how important it is that we live in harmony with nature and act wisely and with commitment. This way of thinking also characterises the work of the Kaamos Group. Every step of the way, we try to follow the principle that the houses we build must be impressive to look at and blend harmoniously into the surrounding environment. Living or working in these buildings should be a real pleasure. To achieve this, we rely on traditions on the one hand, while on the other we always remain open to the most modern and smart solutions. We operate actively in three countries: Estonia, Latvia, Belarus. We are constantly looking for innovative ideas and promising companies in which to invest.

The Kaamos Group employs more than 270 people. The financial position of the group is strong – its total turnover in 2018 was 68 million euros, with a balance sheet total 160 million euros and equity base of 100 million euros.

Venture Capital

Karma Ventures

Venture Capital
Status: Venture Capital/ Secondary Contact: http://www.karma.vc/
Karma Ventures (karma.vc) is an early-stage venture capital firm, specialised in late seed and A round investments in Europe’s most promising tech startups. We back companies with strong ideas delivered with unique technology, customer traction and global ambition. karma.vc accompanies entrepreneurs in figuring out the path to growth in all aspects - commercial, strategic and technical. We believe in open and honest dialogue and the active hands-on-attitude.
Limited Partner

LHV Varahaldus

Limited Partner
Status: Limited Partners Contact: http://www.lhv.ee
AS LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV was established in 1999, relying on the long-term investment and business experience of its founders. LHV employs about 470 people. LHV’s banking services are used by more than 221,000 clients, and pension funds managed by LHV have over 178,000 active clients. Additionally, LHV’s UK branch offers banking infrastructure to more than 120 financial service providers, that in turn intermediate LHV’s payment services to their customers around the world.
Private Equity

Livonia Partners

Private Equity
Status: Limited Partners Investment Range: Seed Contact: http://www.livoniapartners.com
Livonia Partners is an investment team based in the Baltics. We currently manage Livonia Partners Fund I, which is investing €70 million of equity capital into companies in Latvia, Lithuania and Estonia. The fund’s investors are domestic and international institutional investors such as pension funds, insurance companies, and development finance institutions. We identify investment opportunities with the most potential, and provide the relevant resources and operational hands-on expertise to realise growth. We value transparency and trust as we work to nurture the growth of our portfolio companies. Our team is attentive, approachable, and diverse in experience.
Secondary Fund / Foreign Fund

Nordic Secondary Fund

Secondary Fund / Foreign Fund
Status: Venture Capital/ Secondary Investment Range: Seed Contact: https://www.n2f.vc
Founded in late, 2018 Nordic Secondary Fund is the first and by far largest secondary-only fund in the New Nordic Region. In total having raised more than €140M, and done more than 30 transactions. In our first fund, 25% of the capital has been invested in Baltic scaleups, and in our 2nd fund from where we currently are investing, more than 45% so the capital being deployed so far, has also been located to great Baltic founders/companies.

Venture Capital / Foreign Fund

Perot Jain

Venture Capital / Foreign Fund
Status: Venture Capital/ Secondary Investment Range: Seed Contact: https://www.perotjain.com

Perot Jain, LP is a Dallas-based early-stage venture capital firm founded by Ross Perot Jr. and Anurag Jain in 2014. We are committed to partnering with innovative entrepreneurs to build highly disruptive, industry-transforming companies. Our diverse team combines deep operating expertise within the technology sector along with extensive strategic advisory experience.  

We are practical investors with patient capital and a strong desire to add value to our portfolio. Our unique ability to leverage our affiliated operating entities differentiates us from our peers and helps drive early customer traction and accelerated growth for our partners. We actively seek investments in information technology, big data analytics, artificial intelligence, machine learning, and other exponential technologies solving problems in the mobility, supply chain, real estate, and healthcare sectors.

Venture Capital / Foreign Fund

Practica Capital

Venture Capital / Foreign Fund
Status: Venture Capital Investment Range: Seed Contact: https://practica.vc/
Practica Capital is an early-stage VC dedicated to backing Baltic founders. The firm has been invested exclusively in tech potential in the Baltic States for over 10 years. Practica Capital backs great founders in their ambition in SEED, selected PRE-SEED, and SERIES A stages, and partnering with them as company builders. Practica Capital manages four funds with more than €130m in AUM. To date, the firm made over 60 investments, including great companies like PVcase, TransferGo, Ovoko Eneba, Montonio, Atrandi Biosciences, Interactio, CGtrader and others.

Find out more: https://practica.vc
Secondary Fund

Siena Secondary Fund

Secondary Fund
Status: Venture Capital/ Secondary Contact: https://siena2ndary.com

Siena Secondary Fund (SSF) provides liquidity for early investors, founders and employees of high-growth startups from the "New Nordics" (Baltic & Nordic) region. They target companies that are usually post series A, have a solid business model and are still in a high growth phase.

SSF investment criteria:

  • 100% secondary deals, no primary investment to the company;

  • focusing primarly on the Baltics and Finland, but are open to deals from the rest of CEE and Scandinavia;

  • preferably post series A, but not a must if the company is already in scale-up phase;

  • proven business model;

  • scaling phase;

  • exit potential in 3-5 years timeframe;

  • always aiming for a discount from the fair market value.

Siena Secondary Fund is managed by a seasoned team of startup ecosystem members and investment management professionals: Rando Rannus, Rain Tamm and Lauri Isotamm.

Limited Partner


Limited Partner
Status: Limited Partners Contact: www.smartcap.ee
SmartCap is a state venture capital fund manager. SmartCap is managing a venture capital fund of funds, Early Fund II, that together with private investors invests in venture capital funds focused on early stage Estonian tech companies with great international growth potential. While implementing its investment strategy, SmartCap cooperates closely with experienced private venture capital teams, who have a good understanding of and capacity to invest in early stage tech companies in the region. In addition to investing in start-ups, these venture capital funds contribute to fundraising, mentoring, professional support and pave the way to success of early stage companies.
Venture Capital / Secondary

Specialist VC

Venture Capital / Secondary
Status: Venture Capital/ Secondary Investment Range: Seed Contact: https://specialist.vc

Specialist VC is a €50m venture capital fund, focusing on investments into promising tech startups from pre-seed to A-rounds, and also secondary deals in A+ rounds. The funds’ main focuses are on B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech, but is not limited to those areas. Specialist VC has invested in and built long-term relationships with over 45 brilliant teams building tech companies that are really changing the way the world works. Their LP base consists of some of the brightest players in the region such as founders or early employees of fast-growing tech companies – Veriff, Wise, Bolt, Slack, Pipedrive, F-Secure, Kilo.Health and Vinted.

Venture Capital

Startup Wise Guys

Venture Capital
Investment Range: Pre-Seed Contact: https://startupwiseguys.com
With more than 350 investments in early-stage startups, Startup Wise Guys (SWG) is the leading early-stage investor with a focus on underserved markets (Baltics, CEE, CIS, Italy, Spain, and Africa).

They invest in the strongest technical B2B founders in this region early on and speed up their growth through their acceleration program that they have been running since 2012. They make additional follow-on investments in winning teams from the accelerator to double down on the performers.

SWG is the only cross-border investor that covers this region with such strategy and scale. They are diversifying the investment across hundreds of companies throughout the region and also between different verticals – SaaS, Fintech, Cybersecurity, Cleantech, Industry 4.0 and Extended Reality. They provide diversified Access to an early-stage portfolio in one of the fastest-growing regions in the world, where all the startups are handpicked by the rigorous selection process, and unique access that goes through the best acceleration program in the region.

Key contacts:

Venture Capital


Venture Capital
Status: Venture Capital/ Secondary Contact: https://www.superangel.io
Superangel is early stage investment fund and company builder. We invest our time, experience and capital to help start and grow the next wave of European technology startups, focusing on “from founder to founder” concept where early stage capital is coupled with company building.
Limited Partner

Swedbank Investment Funds

Limited Partner
Status: Limited Partners Contact: www.swedbank.ee
Swedbank Investeerimisfondid AS is an investment management company that stands out as the oldest and largest in the Baltic states. We offer investment management expertise and products to private individuals, financial intermediaries and institutions both in the Baltics and around the world.
Venture Capital / Foreign Fund


Venture Capital / Foreign Fund
Investment Range: Pre-Seed Contact: https://www.tenity.com
Tenity, a global early-stage VC with backing from the Swiss stock exchange, specializes in Fintech & Insurtech. Our mission centers on nurturing innovative co-founded startups in the finance, insurance, and sustainability sectors. Our journey commenced in 2015, originally as F10, in Zurich's financial heart. Today, we operate across four hubs and boast a global team spanning Europe and Asia. We strongly believe in the transformative power of collaboration, uniting ambitious founders with prominent corporations, forward-thinking investors, and dedicated mentors. This synergy forms a dynamic ecosystem shaping the future of finance. To date, we've conducted over 250 investments, reflecting our commitment to propelling entrepreneurial success.

Key contacts: kevin.chavanne@tenity.com / anders.norlin@tenity.com / uve.poom@tenity.com
Venture Capital

Tera Ventures

Venture Capital
Status: Venture Capital/ Secondary Contact: tera.vc

Tera Ventures is an Estonian venture capital firm investing in early stage born-global digital startups. Our goal is to discover world class founders tackling big problems and support them on the way to become the industry leaders. Estonia is our home market, we also invest in Denmark, Sweden, Finland, Latvia, Lithuania, Poland and Czech Republic. We have offices in Tallinn, Estonia; Los Angeles, California; and Helsinki, Finland.

We are industry agnostic, we do have preferences based on what we have learned from our portfolio companies – eg we like Fintech, automation. We also develop themes – eg we have invested in AI/ML for more than ten years.

We are hands-on and founder-friendly, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over more than a decade, Tera team has had considerable success in assisting portfolio companies’ entry to the US, the UK and Japan, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs. We are supported by a global advisory network also providing portfolio companies with access to expertise.

Venture Capital

Trind Ventures

Venture Capital
Status: Venture Capital/ Secondary Contact: trind.vc
Trind VC is an industry agnostic tech fund based in Tallinn, Helsinki and Munich. We join founders based in EU at seed stage and aim to be helpful partners for the long term. We have made about 50 tech investments since 1999 and our entrepreneurial team has lots of "skin in the game".
Private Equity

United Partners

Private Equity
Status: Buyout/ Growth/ Mezzanine Contact: www.unitedpartners.ee

United Partners Group is an investment company, active since 2003, offering to its corporate clients financial advisory, investment and asset management services.

Family Office

Up Invest

Family Office
Status: Family Offices Contact: http://upi.ee/
Up Invest is a privately owned investment company focusing on health care, media, retail, real estate and cleantech investments in all three Baltic countries and in Finland. Our current portfolio includes more than 15 investments with consolidated sales in 2017 of close to EUR 500 million. Portfolio companies range from mature market leaders (for example medical wholesaler/retailer Magnum, media group Eesti Meedia) to early stage growth capital (for example Skeleton Technologies). We invest our own equity and we do not have a fixed holding period.
Venture Capital / Foreign Fund

Verge HealthTech Fund

Venture Capital / Foreign Fund
Status: Venture Capital Investment Range: Seed Contact:


Verge HealthTech Fund (“Verge”) is an early-stage venture capital fund focused on investing in impactful health technologies at a global scale. The team at Verge achieves this by searching for transformative technologies that make healthcare accessible, affordable, better in quality and efficiency, and can reach underserved markets in Asia and beyond. To date, the team has invested in 49 healthtech companies across 20 countries, and their investments have positively impacted over 53 million lives.

The key trends that inform Verge’s investment thesis include: 

  • The major shortage of healthcare resources globally, resulting in over 4 billion people without access to quality healthcare;
  • Aging and lifestyle changes are shifting the global disease burden from infectious to non-communicable diseases, calling for new kinds of healthcare delivery models;
  • Exponential improvements in technology, connectivity and computing power driving the velocity, volume and veracity of data, enabling radical innovations in understanding health;
  • Healthcare moving away from “sick care” to “health + care”, covering prevention, risk detection, intervention, care for the chronically ill and healthy longevity; and
  • The consumerization and democratisation of healthcare, meaning that healthcare is moving from traditional healthcare settings into virtual and home settings, putting power into the hands of consumers to be able to manage their health.

Private Equity


Private Equity
Status: Family Offices Contact: https://wellman.ee

Wellman is an investment company, always on the lookout for new opportunities. Wellman provides experience based insight into world of business for startups and wings for companies looking to expand their business globally.

Venture Capital

2C Ventures

Venture Capital
Investment Range: Seed Contact: http://2cventures.eu
2C Ventures is a fully cleantech-focused venture capital firm. We are dedicated to nurturing and fuelling the growth of groundbreaking technologies that are reshaping our world for the better.

Key contacts:

Associate members

Law Firm


Law Firm
Status: Associate members Investment Range: Seed Contact: www.cobalt.legal

COBALT is one of the largest full-service business law firms in Estonia that belongs to COBALT alliance covering 3 jurisdictions - Estonia, Latvia and Lithuania – uniting approximately 250 lawyers. Our team is particularly experienced in VC investments and a well-known adviser of high caliber international M&A and PE transactions. We are awarded with the highest ranking for Financial and Corporate work in all Baltic countries by IFLR1000 2023.

For example, COBALT has:

  • advised Karma Ventures on an additional investment in start-up DRUID
  • advised Change Ventures on its investment in Formaloo
  • advised SmartCap on investment in Tartu-based agtech startup eAgronom
  • advised Nordic Secondary Fund II acquired a stake in Cleveron
  • advised BaltCap Private Equity Fund III (BPEF III) on acquiring 100% of the stakes in Rahva Raamat AS
  • advised Change Ventures on creating and launching their €20M Fund III to double down on pre-seed investing in the “next startup nations”
  • advised 3VC on its investment in AI-powered negotiation platform Pactum
  • advised Lightrock on its investment into Estonian software startup Katana
  • advises SmartCap on the launch of its Greentech Investment Programme
  • advised Rubylight on its investment in the buy and sell platform Yaga
  • advised Wise upon receipt of a license of an investment firm in Estonia (TINV Europe)
  • advised the creation of the fine wine investment fund WineFortune which is the first fund in the world to enable retail investors to invest in the wine asset class
  • advised start-up NiftyCraft on raising investment
  • advised European Diversified Infrastructure Fund II on investment in Utilitas, leading private Estonian energy group
  • advised Luminor on EUR 1 billion majority stake acquisition by Blackstone
  • advised the European Bank for Reconstruction and Development (EBRD) on investing into BaltCap Infrastructure Fund
  • advised DiDi Chuxing in relation with an investment round of Taxify

COBALT is awarded with: 

  • Baltic States’ Tax Firm of the Year 2023 by International Tax Review EMEA Tax Awards
  • Baltics Firm of the Year at Women in Business Law Awards 2023 EMEA
  • Baltic-wide Law Firm of the Year 2022 by Chambers Europe
  • CEE Legal Matters Deal of the Year Award for Estonia and Latvia in 2022 
  • The Most Innovative Baltic Law Firm of the Year 2019 Award by IFLR

COBALT Estonia is the exclusive member for Estonia of Lex Mundi and World Services Group (WSG) – the world’s leading networks of independent law firms. Through close collaboration with Lex Mundi and WSG we are able to offer our clients high quality legal services by more than 21,000 lawyers worldwide.

Law Firm


Law Firm
Status: Associate members Contact: www.cuesta.ee
Law Firm

Ellex Raidla

Law Firm
Status: Associate members Contact: https://ellex.legal/
Ellex Raidla is a leading pan-Baltic provider of legal services.  The firm's „one-stop concept“ involves coordinated assignment handling  to local, regional and international legal entities, including multinational enterprises, international banks and financial institutions. Banking & Finance, Capital Markets and M&A & Corporate Advisory teams at Ellex Raidla have specialized in complex cross-border financing transactions. The teams have advised financial transactions in connection with a wide variety of domestic and cross-border M&A transactions, private equity capital investments, as well as joint-ventures, private equity and management buy-outs and restructuring processes.
Law Firm

Eversheds Sutherland Ots & Co

Law Firm
Status: Associate members Investment Range: Seed Contact: http://www.eversheds-sutherland.com/

Eversheds Sutherland Ots & Co is one of the leading law firms in Estonia. We provide legal assistance across many business areas of law such as resolving corporate law disputes, matters related to competition law, securities law, mergers and acquisitions, advising real property transactions and handling labour law issues.

In addition to providing access to top quality legal assistance in 35 countries of Europe, the Middle East, Africa, Asia and US, we are capable of carrying through extensive international projects, and take benefit of the international support and expertise available only to Eversheds. 

We offer innovative and creative solutions tailored specifically to your organisation. We combine local and efficient activities with market related knowledge and skills from around the world, and therefore we are an appropriate legal partner to any ambitious entrepreneur.

Consulting Firm


Consulting Firm
Status: Associate members Contact: www.ey.com/ee
EY is a global leader in assurance, tax, transaction and advisory services. More than 120 professionals equipped with deep industry knowledge in various market sectors are employed at its Estonian office. The transaction advisory team of EY, comprised of close to 30 professionals, is the largest of its kind in the Baltics with significant and recent financial advisory experience in major Baltic deals. The team has helped companies and industry groups across the Baltics with valuations and business modelling exercises, debt and equity capital raisings, due diligence processes, M&A advisory projects and other strategic issues related to raising, investing, optimizing and preserving capital.
Law Firm

Hedman Partners

Law Firm
Status: Associate members Contact: https://hedman.legal/
Hedman is a new generation law firm for technology-driven and digital businesses. They are working closely with companies, entrepreneurs, and investors within the technology sector which has made them one of the leading law firms with the biggest expert team in this sector.

In particular, their team is highly competent in fundraising, corporate law, M&A, data protection and privacy, intellectual property, emerging technologies, and relocation of businesses (inter alia stock flips).
Consulting firm


Consulting firm
Status: Associate members Contact: https://home.kpmg/ee/en/home/services/kpmg-new-ventures.html
KPMG offers a wide range of audit, tax, legal, bookkeeping, and business advisory services. We help organisations achieve their goals in changing economic environment by offering a personal approach and needs-based solutions. Involving private equity and venture capital investors in unlocking business growth is an opportunity with huge potential. We wish to contribute to the professional development and growth of the private equity and venture capital market and to creating new success stories. Through our international network with offices in 154 countries, we can help bring together growth companies and major corporations, facilitate global investments, ensure access to international markets, and support clients in building their innovation capacity. Profit sharing models are becoming increasingly popular and we ready for the challenge. You win, we win.
Law Firm


Law Firm
Status: Associate members Contact: https://www.magnussonlaw.com
Magnusson is an international law firm with established offices in the Nordic-Baltic area and business desks focusing on outbound services globally. We provide one-stop-shop integrated legal services. With our multi-disciplinary and integrated cross-border team, we can deliver both excellent transactional skills and specialist expertise. We advise clients on a wide variety of corporate matters, such as private and public M&A, disposals, demergers, joint ventures, restructurings, start-ups, as well as general commercial, compliance and corporate governance issues. Our capital markets team has a solid track record for listing companies in foreign jurisdictions and providing counsel in cross border capital markets transactions into Scandinavia and the Baltics. Magnusson is continuously recognized by international legal directories such as Chambers Europe and Legal 500.
Regulatory compliance services

MITI Solutions

Regulatory compliance services
Status: Associate members Investment Range: Seed Contact: www.miti.ee
MITI provides compliance and risk control “as a service” for asset managers and FinTechs. Our outsourced compliance service enables clients to focus on their business and gain a competitive advantage by using MITI’s experienced team and developed tools which together become an extension to the client’s management team. MITI takes a personalized approach to each client engagement and focuses on building long-term relationships.

MITI was founded in 2021 with the objective to offer market participants a reliable, alternative and tailor-made solution on regulatory compliance. We provide regulatory support, help to develop and implement internal control systems and assist with reporting and administration.

Karola Sisask
Founder at MITI Solutions OÜ
+372 5101210

Stock Exchange


Stock Exchange
Status: Associate members Contact: www.nasdaqomxbaltic.com
NASDAQ OMX Tallinn is the only regulated secondary securities market in Estonia. Exchange brings together investors, listed companies wishing to gain access to a host of capital resources and exchange's members, mediating securities transactions of the investors via common electronic trading system.
Law Firm

NJORD Advokaadibüroo

Law Firm
Status: Associate members Contact: https://www.njordlaw.com/et
We are a law firm with a Nordic profile and a global mindset. Our lawyers advise on legal matters and work as problem-solvers for clients, both nationally and internationally, from our six offices – in Aarhus, Silkeborg, Copenhagen, Riga, Tallinn and Vilnius. We offer advice in more than 30 areas of expertise, and we currently think, speak and cooperate in more than 25 languages among our 250 employees.

As a law firm, our principal tasks are to ensure that our clients obtain justice and to provide the help and advice they require. This must be done properly - with professionalism, knowledge and experience, and with respect for the client, the process and all parties involved.
Corporate Finance

Nordic CF Advisory

Corporate Finance
Status: Associate members Contact: www.nordicadvisory.com
Nordic CF Advisory is energetic and independent Estonian investment banking company providing competitive financial advisory services with individual approach and solutions. We are focused on M&A advisory, business valuations and capital raising projects regarding small- and midsize companies in Estonia.
Business consultancy

PwC Legal Estonia

Business consultancy
Status: Associate members Investment Range: Seed Contact: www.pwc.ee
Through one team, PwC provides both investors as well as founders (and startup professionals) with a single point of access for wide-ranging solutions to challenges at every level of their business – be it audit, accounting advice, tax, M&A, financial, legal or ESG advisory.

Almost 240 PwC specialists provide daily professional services to clients in Estonia, while more than 328,000 people in 152 countries globally connect their thinking, experience, industry knowledge and business understanding to serve our clients and enhance value. Backed by the power of PwC’s global community of tax, ESG, regulatory, deals, legal and strategic advisors, our experts work with you to achieve rapid solutions and streamlined decision-making – all through our “one-stop shop”.

Law Firm


Law Firm
Status: Associate members Contact: www.rask.ee
RASK is a full-service business law firm that combines the finest features of traditional legal counselling and modern practice of the corporate world. Our team embraces the wisdom of three generations of lawyers (including the long term minister of justice and former chief justice of Estonia) and is driven by youthful ambition to set new higher standards on substance and way legal service is provided.


Status: Associate members Investment Range: Seed Contact: https://www.seb.ee/en

As one of the most important banks in Estonia, SEB has the responsibility to develop and stand up for a better business culture and business environment. We are pioneers and support customers and employees in a rapidly changing world. We exist to positively shape the future with responsible advice and capital. Today and for generations to come.

Corporate Finance


Corporate Finance
Status: Associate members Contact: www.sentio.ee
Sentio is an independent Estonian corporate finance firm with Pan-Baltic, Scandinavian and other international network contacts. The Company was founded in 2003 with an objective to provide fast, flexible and professional corporate finance services. The Sentio partners have over 10 years of private equity investment, corporate finance and consulting experience with medium sized companies, which provide us outstanding contacts with business and finance leaders in Estonia and in neighboring markets. The company is also well-connected with different Nordic and Baltic private equity funds.
Law Firm


Law Firm
Status: Associate members Contact: www.sorainen.ee

Four offices, one team

We are a leading fully integrated regional business law firm with offices throughout the region, in Estonia, Latvia, Lithuania, and Belarus.

With 32 partners in our regional partnership and more than 200 lawyers and tax specialists, we have the resources to support our clients on all business law and tax issues involving the Baltic States or Belarus.

Founded in 1995, the firm has more than 80,000 cases on its track record, along with over 1000 M&A transactions to date. 

We closely partner with businesses – local, regional and international – to fulfill our core purpose: to increase prosperity in the Baltic States and Belarus by helping clients succeed in business.


Corporate Finance

Superia Corporate Finance

Corporate Finance
Status: Associate members Contact: www.superia.ee
Superia Corporate Finance is an independent advisory firm with offices in Estonia, Latvia and Lithuania led by some of most experienced investment banking professionals in the region. The firm provides businesses, governments and investors with independent financial advice on mergers, acquisitions, divestitures, capital raising and corporate restructuring.
Financial services


Financial services
Status: Associate members Investment Range: Seed Contact: www.swedbank.ee
Swedbank is the largest bank in Estonia. It has more than 960,000 private and 130,000 business customers. We offer a wide selection of financial services, including accounts, mortgages, insurances, credit cards, loans, pensions, and investments, both for private customers and companies, including foreign and local financial institutions.
We provide comprehensive support to international institutions through a range of cash management, trading, and custody services. Additionally, we offer a suite of house bank and back-office solutions tailored for both regulated and alternative funds locally, encompassing depositary and fund administration services.

Our vision is a financially sound and sustainable society, and we value responsible financing and sustainability through all our activities. We aim to promote financial literacy and entrepreneurship, and to contribute into social participation through the development of the entire society.

In 2024 Europe’s largest independent brand study on sustainability, Sustainable Brand Index by SB Insight, marked Swedbank brand as the most sustainable among banks in Estonia.

Key contacts for the EstVCA community:

Science Park

Tallinn Science Park Tehnopol

Science Park
Status: Associate members Contact: www.tehnopol.ee
Tallinn Science Park Tehnopol is a science and business environment for knowledge based companies. Today there are more than 180 companies, Tallinn University of Technology and IT College in Tehnopol. Tehnopol provides a unique set of value adding business development services, convenient infrastructure and international cooperation opportunities for companies. Our Startup Incubator helps to boost new and innovative business ideas.
Science Park

Tartu Biotechnology Park

Science Park
Status: Associate members Contact: www.biopark.ee
Tartu Biotechnology Park (TBP) provides physical infrastructure as well as business development and consultancy services to companies and R&D institutions in the fields of biotechnology, medicine and veterinary medicine. It supports companies in finding cooperation partners and is active in the establishment process of new companies. The aim of TBP is to create a favorable and developing environment for the promotion of biotechnological entrepreneurship in Estonia.
Law Firm


Law Firm
Status: Associate members Contact: www.triniti.ee
TRINITI is a pan-Baltic commercial law firm with cross-border practice groups and a combined team of 50 people serving domestic and international business clients in Estonia, Latvia and Lithuania. TRINITI offices in Tallinn, Riga and Vilnius have the resources and legal expertise to serve clients across all core commercial activities specialising in M&A, real estate & construction, shipping ja aviation, energy, media law, IT and IP law, dispute resolution, public procurement and large infrastructure projects.
Law Firm


Law Firm
Status: Associate members Contact: www.tgsbaltic.com
TGS Baltic is a top-tier commercial law firm with offices in Estonia, Latvia and Lithuania, employing 140+ lawyers across the region. We believe lawyers should be more than just experts in the law: the real added value for our clients comes from our ability to help them succeed in their business objectives.
Law Firm


Law Firm
Status: Associate members Contact: https://walless.com
WALLESS was formed in 2020 by the Estonian law firm Derling Primus, Latvian law firm Primus Derling and Lithuanian law firm WALLESS. The Baltic legal team of WALLESS units 100 lawyers in Tallinn, Tartu, Riga and Vilnius, and is managed by top-tier experts with many years of experience. The team provides full scope of specialized business law services, with particular strength in the areas of M&A, capital markets, banking and finance, fintech, commercial and regulatory, real estate, tax, dispute resolution and white-collar and government investigations. All three WALLESS firms have a shared vision of a modern law firm, based on earned client trust, openness, innovation and kept promises.

Collaboration Partners & Friends

Invest Europe

Status: Collaboration Partners & Friends Contact: http://www.investeurope.eu

Invest Europe – formerly the EVCA - is the association representing Europe’s private equity, venture capital and infrastructure sectors, as well as their investors.

Our members take a long-term approach to investing in privately held companies, from start-ups to established firms. They inject not only capital but dynamism, innovation and expertise. This commitment helps deliver strong and sustainable growth, resulting in healthy returns for Europe’s leading pension funds and insurers, to the benefit of the millions of European citizens who depend on them.

Invest Europe aims to make a constructive contribution to policy affecting private capital investment in Europe. We provide information to the public on our members’ role in the economy. Our research provides the most authoritative source of data on trends and developments in our industry.

Invest Europe is the guardian of the industry’s professional standards, demanding accountability, good governance and transparency from our members.

Invest Europe is a non-profit organisation with 25 employees in Brussels, Belgium.

Ministry of Economic Affairs & Communications

Status: Collaboration Partners & Friends Contact: www.mkm.ee

Ministry of Finance of the Republic of Estonia

Status: Collaboration Partners & Friends Contact: www.fin.ee
The Ministry of Finance is the government’s expert in the implementation of tax, financial and fiscal policies, and setting economic goals.

Estonian Investment Agency

Status: Collaboration Partners & Friends Contact: https://investinestonia.com/

The Estonian Investment Agency, a part of Enterprise Estonia, is a government agency promoting foreign investments in Estonia and assisting international companies in finding business opportunities in Estonia.

The best way to contact us is to use the unique personalised e-consulting service that will help you get answers to any questions you might have about doing business in Estonia.

Estonian Chamber of Commerce & Industry

Status: Collaboration Partners & Friends Contact: www.koda.ee
Startup Estonia

Startup Estonia

Startup Estonia
Status: Collaboration Partners & Friends Contact: https://startupestonia.ee
Startup Estonia is a governmental initiative aimed to supercharge the Estonian startup ecosystem in order to be the birthplace of many more startup success stories to come. For that, we are working on making Estonia one of the world's best places for startups, partnering with and uniting the best of startups, incubators, accelerators, private and public sector.

Estonian Employers Confederation

Status: Collaboration Partners & Friends Contact: https://www.employers.ee
Estonian Employers Confederation

We believe that private sector employers are the key to the development of Estonia and the welfare of its people. Realising this responsibility, we have intentionally taken an active role in improving life in Estonia. The Estonian Employers’ Confederation stands for a vital Estonia, being the voice of employers in Estonia and internationally.
Our mission is to contribute to Estonia’s economic growth and improve the standard of living of its people.

To that end, we:

  • influence legislators and the government to take decisions contributing to economic growth and a better enterprise environment;
  • provide entrepreneurs and their associations with knowledge to help them grow and achieve more;
  • inform the public about the economy and the role of employers and entrepreneurs.


  • knowledge-based economy
  • legal certainty for the entrepreneur
  • a fair taxation environment
  • lower labour taxes
  • flexible employment relations
  • regular and proactive conversion training
  • internationalisation of higher education
  • vocational education of high quality and reputation
  • an increased share of technical professions in higher education
  • better reputation of entrepreneurs
  • value-based public procurements

Business Angels

Estonian Business Angels Network ESTBAN

Business Angels
Status: Collaboration Partners & Friends Investment Range: Seed Contact: www.estban.ee

Estonian Business Angels Network, established in late 2012, is an umbrella organization for business angels and business angel groups seeking investment opportunities in Estonia and its neighboring regions with an aim to grow the quantity and quality of local seed-stage investments.

Estonian Founders Society

Estonian Founders Society

Estonian Founders Society
Status: Collaboration Partners & Friends Contact: https://asutajad.ee/
Estonian Founders Society was founded in 2009 to boost local startup community, strengthen direct relationships between founders, meet face to face in a social setting, share experiences and empower new young founders.

Teenusmajanduse Koda

Status: Collaboration Partners & Friends Contact: www.teenusmajandus.ee
Estonian Service Industry Association is a voluntary professional membership organisation representing more than 130 service industry companies. ESIA purpose is to drive and support the development of information, creative and professional services sector, emphaisze the importance of highly competitive higher education system and improve the local business environment to attract foreign capital.


Status: Collaboration Partners & Friends Contact: www.financeestonia.ee

FinanceEstonia is a public-private financial sector cluster organisation with the aim of supporting Estonian economy by increasing member companies business opportunities through enhancing financial sector internationalisation, supporting innovation and increasing capital availability.  FinanceEstonia works with members and stakeholders to ensure an attractive and competitive environment, especially for human and financial capital.

Latvian Private Equity & Venture Capital Association

Status: Collaboration Partners & Friends Contact: www.lvca.lv

Lithuanian Private Equity & Venture Capital Association

Status: Collaboration Partners & Friends Investment Range: Seed Contact: www.vca.lt

Finnish Venture Capital Association

Status: Collaboration Partners & Friends Contact: https://paaomasijoittajat.fi/en/finnish-venture-capital-association/

FVCA is the industry body and public policy advocate for the venture capital and private equity investors in Finland. As the voice of the Finnish VC and PE community and the entrepreneurs they fund, it is their role to demonstrate the positive impact of the industry on the Finnish economy and to provide market intelligence, specialist training and more. 


Status: Collaboration Partners & Friends Contact: https://www.nvca.no
Norwegian Private Equity & Venture Capital Association


Status: Collaboration Partners & Friends Contact: https://latitude59.ee

Latitude59 is the flagship startup and tech event of the world’s first digital society. Latitude59 is THE place to be for various networking opportunities, in-depth discussions with top international players, several pitching rounds for both startups as well as investors, and an overall chance to get together and reflect on the crazy strenuous months behind us and forge new plans for the future.



Status: Collaboration Partners & Friends Contact: https://www.startupday.ee

sTARTUp Day is the biggest festival in the Baltics, bringing together startups, traditional entrepreneurs, investors, innovators, and students. The aim of the event is to connect startup-minded people and celebrate entrepreneurship in the smart city of Tartu. 


Status: Collaboration Partners & Friends Contact: https://www.svca.se
Swedish Private Equity and Venture Capital Association

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  • Have a look at the EstVCA membership categories in detail - HERE

Photo: Martin Voltri