Revenue: €0.3-0.4M/year

Senovo

Senovo invests into enterprise SaaS companies. Solutions can have hardware components, but the main value has to be on the software side. All client types except B2C are possible.

Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions. They seek companies they can help through their experience and network to grow in the US and internationally. They prefer companies with 10 fully paying clients and €30k MRR or other comparable proof of product-market fit.

They’ve been investing since 2013, having 25 companies in their portfolio, and are currently managing their second fund. Their team combines backgrounds in business, science and law. They prefer to invest lead or co-lead, but are willing to consider other follower or solo investments as well.

EIT InnoEnergy

EIT InnoEnergy is a multi-LP fund focusing on energy-related startups in Europe. They have excellent connections, and know the public sector especially thoroughly.

Prefer B2C but others are also interesting. They prefer co-investing but also invest solo.

EIT Innoenergy is a Pan European investor in the cleantech ecosystem. With a strong focus on impact technologies, aiming to empower citizens, provide access to clean(er) energy, and encourage international cooperation. Thematic tracks include renewables, mobility, battery, hydrogen, storage, smart cities, energy efficiency, smart grid, circular economy. A worldwide reach with offices in Poland (responsible for the geographical region ranging from Estonia to Turkey), Germany, Sweden, the Netherlands, Spain, Portugal, and the U.S.

Our aim is to support sustainable energy innovations that provide the industry with derisked solutions. These innovative companies reduce energy costs, increase system performance and competitiveness, while decreasing greenhouse gas (GHG) emissions, and creating jobs.

Blue Minds

The Blue Minds Group focuses on innovative solutions to transform our energy system and industrial value chains. They build innovative companies, invest in promising tech teams and help industry create new skills, promote talents, and develop business models for the digital age.

They invest in very early stage.

They also help companies expand into the German-speaking market (DACH countries).

 

Tehnopol Startup Incubator

Tehnopol Startup Incubator is located in Tallinn, Estonia. Applications are open all through the year, selection process and intake are in batches around the year.

Current focus areas are health tech, space tech, B2B ICT, greentech and smart cities. Startups from other areas are also welcome.

Most of their participating companies are B2B or B2C. They also have a separate program focused on the needs of B2G startups, which they’re happy to tell more about.

Participating teams have to have or establish a company in Estonia (takes 15 minutes) within a month of joining the program.

South Central Ventures

South Central Ventures invests into software B2B(2C) startups in the Southern CEE region, especially in Balkan. They’re sector-agnostic, but focus on technology.

They have offices in Ljubljana, Belgrad, Zagreb, Skopje.

They’re often the first institutional investor and the lead investor in rounds. They often seek a board seat in companies they invest in.

 

Sunbo Angel Partners

Sunbo Angel Partners represents 17 Korean LPs and 120 SMEs, investing into research-based early stage B2B companies globally.

Fazer Lab

Fazer is looking for food tech startups who focus on food (the substance), raw materials and food production process technologies.

For example solutions that help in berry or cocoa availability around the year would be interesting.

They’re interested especially in commercial cooperation, and also willing to invest in a few select startups.

Startup introductions can be sent to Jussi Loponen: https://www.linkedin.com/in/zloponen/. Please include an introductory text in the connection request.

Change Ventures

Change Ventures invests into startups in the Baltics, or with Baltic founders on their teams.

InvestClub

InvestClub is a front office for a group of investors who invest in startups vetted by the managers. Angel members typically invest €10-100k, fund members €100-500k, and later stage funds €1-5M.

They have members from all over the world: US, Germany, India, Russia, Belarus, UK, Netherlands.

They are only interested in software and marketplace startups targeting B2C or B2B2C. No B2B, B2G or blockchain.

Coinvest Capital

Generalist co-investment fund from Lithuania. They invest alongside three or more angels or VC funds that are not backed by public money. They consider all business sectors, however the fund wouldn’t invest into weapons or vices (cigarettes, gambling etc.).

They can fund up to 70% of a total investment round. They cap their return at 6% annually during the investment period, with the excess shared among other investors of the syndicate. The investments must benefit Lithuania, e.g. companies need to have or open an office and hire employees in Lithuania.