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  • A site by BDO Estonia
  • Start-up


Venture capital in Estonia

Organizations that unite the business sector and companies

Start up Estonia

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 making Estonia one of the world's best places to start a company, partnering with and uniting the best of startups, incubators, accelerators, private and public sector into one big successful Estonian Mafia family, a term that has become a recognised brand for the local startup community.

The Estonian Investment Agency

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

EIA offers comprehensive, one-stop investment consultancy services, free of charge, which are always tailored to meet potential and existing investors’ precise needs. Our goal is to increase the awareness of business opportunities in Estonia and the image of Estonia as an attractive country for investments in order to help investors to be more successful in their global markets.

The Baltic Innovation Fund

The Baltic Innovation Fund offers capital investments into rapidlydeveloping companies with high growth potential. The BIF is a fund of funds established by Estonia, Latvia, and Lithuania and the European Investment Fund (EIF), designed to increase capital investments into Baltic enterprises. EIF has a stake of 40 million euros in the fund, plus 20 million euros from the state agencies in the Baltics – Estonia’s KredEx, Latvia’s LGA and Lithuania’s Invega.

Estonian Development Fund

The Estonian Development Fund invests in innovative, ambitious, high-potential Estonian enterprises. The goal of the Development Fund’s investing activity is to contribute to such companies and the development of the venture capital market in Estonia.

Estonian Association of Small and Medium Enterprises

EVEA is Estonia’s only organization representing SMEs and is aimed at representing and defending the interests of SMEs and strengthening the competitiveness of its members.EVEA has been in the service of Estonian companies since 1988.

Estonian Private Equity and Venture Capital Association

Founded in spring 2009 in an initiative led by the Estonian Development Fund, the Estonian Private Equity
and Venture Capital Association (EstVCA)
is an umbrella organization uniting venture capitalists, private
funds, business angels and providers of support services in the sector. The main goal of EstVCA is to develop
the private equity and venture capital sector and to increase the culture of ambitious enterprise in Estonia.

Enterprise Estonia

Enterprise Estonia, the state entrepreneurship agency, has launched a programme for developing high-potential, innovative enterprises, called Start-up Estonia. The goal is to develop the Estonian start-up ecosystem through supporting their development and use of business angel culture. It is funded by the European Regional Development Fund.

Estonian Chamber of Commerce and Industry

The Chamber of Commerce and Industry is Estonia’s oldest and largest business community organization representing companies and organizations registered in Estonia. The Chamber of Commerce and Industry is a non-profit association under private law, and its members are companies and organizations registered in Estonia. The members of the Estonian Chamber of Commerce and Industry comprise nearly 3,200 companies operating in Estonia, which generate 41% of the net turnover and 42% of net profit of all Estonian companies combined (Krediidiinfo data for FY 2010). The aim of the Chamber of Commerce and Industry is to promote Estonian enterprise and to contribute to and maintain an entrepreneur-friendly economic environment.


KredEx helps to improve financing options for Estonian companies, hedges credit risks and allows people to build or renovate a home.

Estonian Taxpayers Association

The Estonian Taxpayers Association (ETA) protects interests of all taxpayers and provides advice and education. The organization is a watchdog keeping tax laws fair and understandable, the tax burden optimal, ensuring that the actions of tax administrators are just and professional, and that taxpayers’ money is used in accordance with its aim. The Estonian Taxpayers Association has morethan 2,500 members.

German-Baltic Chamber of Commerce

The German-Baltic Chamber of Commerce in Estonia, Latvia and Lithuania has been contributing to development of German-Baltic economic ties for over 19 years – in the early years as a German economic agency and delegation and later as a chamber of commerce. The chamber is represented in all three Baltic states. The German-Baltic Chamber of Commerce is the first contact for companies that wish to find and establish business contacts in the Baltics and Germany.

Estonian Service Industry Association

The Estonian Service Industry Association is a voluntary professional membership organisation representing more than 130 service industry companies. ESIA’s purpose is to drive and support the development of information, creative and professional services sector, emphasize the importance of highly
competitive higher education system and improve the local business environment to attract foreign capital.

Estonian Employers´ Confederation

The Estonian Employers’ Confederation represents the largest number of employers among local employers'
organisations and covers all economic sectors of Estonia. Within the European social model, the Confede-ration represents the joint interests of all economic sectors at both state and international levels and in dealings with state authorities and employee organisations. The aim of the Confederation is to represent its members’ interests in communications with legislative and executive powers and employee organisations, as well as to represent its member organisations at international, state and regional levels.


Prototron Fund was founded in 2012 by Swedbank, Tallinn Technical University & Science Park Tehnopol. Prototron is supported by Swedbank, Science Park Tehnopol, Ministry of Environment, Utilitas, Hedman Lift and Tallinn city.


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 neighbouring regions with an aim to grow the quantity and quality of local seed stage investments.

Startup Wise Guys

Wise Guys are a startup accelerator program for businesses. Wise Guys will take a team with potential, give them the investments and a team of mentors directs them through three month development program, the end result is the world changing the business model of the company.