Estonian VC SmartCap has invested €5 million in Antler Nordic Fund II to support tech startups across the Nordic region, including Sweden, Norway, Denmark, Finland, and Estonia, which is currently emerging as a key market.
- Antler’s Nordic Fund II is the second Nordic-focused fund, with investments from Danish investment fund EIFO and Helsinki-based Tesi, following its initial €30 million fund in 2021.
- The main target of the fund is to support companies in the Nordic region, covering Sweden, Norway, Denmark, and Finland. With the fresh capital raised, Antler also plans to invest in Estonian founders.
About Antler
- Singapore-based Antler is a venture capital firm that funds startups across six continents. With 30 global offices, Antler’s portfolio comprises more than 1,000 investments, having backed 400 European startups in the last 5 years. It has enabled exits for 142 companies, including Leather, Earth3.0, Incito, and Bounti.
- Antler's 12-week accelerator residency program allows participants to form teams and establish startups. The winning teams receive up to €300,000 in investment to advance their ventures.
“Estonia has consolidated its position as one of the most exciting tech ecosystems in Europe. Antler is a global investor committed to supporting the best founders around the world, and we are very excited to work with SmartCap to back a new generation of Estonian tech startups,” Partner at Antler, Jussi Kallasvuo, commented.
About SmartCap
- Harjumaa-based SmartCap invests in VC funds that focus on Estonian startups, nurturing the venture capital ecosystem from pre-seed to scale-up stages. Currently, SmartCap's portfolio includes 117 companies, contributing significantly to the growth and development of the Estonian startup landscape.
“This investment is a great opportunity to join forces with TESI, EIFO and Investinor and create cross-border deal flow across the Nordics and Estonia, Active deal-flow generation and team building are crucial for our current market development stage, as we are witnessing new talented tech executives with founder potential growing out of our startup scene,” Board member and fund manager at SmartCap, Sille Pettai, stated.
