SmartCap
smartcap.ee Direct + LP
SmartCap is a state-owned fund manager operating three funds: a venture capital fund investing in VC funds, a green fund investing in greentech funds and directly in companies, and a defence fund investing in defence companies and funds. It focuses on Estonia and NATO member states.
SmartCap is a fund of funds headquartered in Tallinn, Estonia, founded in 2011. It invests both directly in companies and in funds as a limited partner, from pre-seed to growth, in greentech, defence and venture capital. 495 portfolio companies, as it reports.
“SmartCap backs Estonian funds and greentech startups with global ambitions, as well as defence funds and companies within Estonia or NATO member states, provided they add meaningful value to Estonia’s defence ecosystem.”
— SmartCap, own website
- Layer
- Direct + LP
- Type
- Fund of funds
- Invests in
- Estonia, NATO member states
- Sectors
- greentech, defence, venture capital
- Founded
- 2011
- Portfolio
- 495 companies
Team, as SmartCap publishes it
- Mari Kuhi Member of the Management Board, COO
- Maido Lillemets Head of Legal & Interim Management Board Member
- Maris Prii Chief of Staff
- Karl Järvsalu Investment manager
- Robert Martin Investment Manager
- Vivian Raukas Investment Manager
- Kaimo Aljas Investment Manager
- Marili Merendi Investment Advisor
- Maarja Pehk Deal flow manager
- Gioia Pucci Investment specialist
- Kristi Nurmeste Head of Risk and Compliance
- Eva-Triin Kubpart Lawyer
Names and roles exactly as listed on smartcap.ee. Nothing else about these people is recorded.
Most shared portfolio companies with
Derived from portfolio pages both investors publish themselves: each pair below lists at least one company in common. 46 investors with a shared portfolio company. A shared company is not proof they invested together in the same round.
- Specialist VC 6 shared companies: starship.xyz, eagronom.com, vokbikes.com, fractory.com…
- Superangel 5 shared companies: starship.xyz, krakentechnology.com, eagronom.com, vokbikes.com…
- United Angels VC 5 shared companies: starship.xyz, eagronom.com, vokbikes.com, fractory.com…
- Metaplanet 3 shared companies: starship.xyz, vokbikes.com, skyselect.com
- Alpine Space Ventures Management GMBH 2 shared companies: eif.org, nif.fund
- Siena Secondary Fund 2 shared companies: starship.xyz, skeletontech.com
- Trind Ventures 2 shared companies: eagronom.com, fractory.com
- 8i Ventures 1 shared company: powerup-tech.com
- Sophia Business Angels 1 shared company: powerup-tech.com
- 33N Ventures 1 shared company: eif.org
and 36 more — the graph.
Where this comes from
Every fact above was read from a page SmartCap publishes itself. Nothing is taken from third-party databases. Investment activity (deals, co-investors) is not yet recorded.
- https://smartcap.ee/name, is_investor, layer, type, hq_country, hq_city, stage_min, stage_max, sectors, description, portfolio_count, status, confidence
- https://smartcap.ee/about-us/invests_in_geographies, thesis_quote, thesis_quote_page, founded, stage_min, stage_max
- https://smartcap.ee/about-us/our_team/people
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Record 6880 · added 2026-09-03 · link last verified 2026-10-21 · confidence high
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