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Estonian Development Fund
Estonian Development Fund is an investment firm based in Tallinn, Estonia. Founded in 2007, it finances companies to contribute to their economic development.
Estonian Development Fund
Estonian Development Fund is an investment firm based in Tallinn, Estonia. Founded in 2007, it finances companies to contribute to their economic development. The firm has made 13 investments and achieved 3 portfolio exits.
General information
Firm type
Generalist
Year founded
2007
AUM
Undisclosed
Location
Region
Europe
Country
Estonia
City
Tallinn
Corporate office
Rotermanni 8, Tallinn, 10111, Estonia
Principals
Raivo Vare
Founder
Sille Pettai
Fund Manager
Sector focus
Frequently asked questions
Who ran investment decisions at the Estonian Development Fund?
Raivo Vare served as the founding chairman of the supervisory board. Sille Pettai was the fund manager responsible for day-to-day investment operations (per public record).
Is the Estonian Development Fund still active?
The fund's direct investment activities were wound down in 2020, with its portfolio transferred to KredEx. The fund manager, Sille Pettai, moved to lead SmartCap, the successor entity (per public record).
What investment stages did the fund target?
The fund covered seed-stage, startup, growth, and buyout investments, operating across early-stage and late-stage private equity (per public record).
How was the Estonian Development Fund structured?
It was established by law by the Parliament of Estonia, giving it a hybrid mandate to invest in companies while conducting foresight research to inform national economic policy (per public record).
What was the fund's relationship with SmartCap?
SmartCap is the successor entity that emerged after the fund's investment activities were folded into KredEx. Sille Pettai, the fund's manager, became CEO of SmartCap (per public record).
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