Financials
SmartCap is a self-sustainable fund manager and manages Early Fund II – a venture capital fund-of-funds.
At 31 December 2019, the Early Fund II assets stood at 84 million euros and its investment portfolio included two early-stage venture capital funds operating in Estonia.
The government invested 10 million euros in the SmartCap venture capital fund in spring 2019 to improve research and technology-intensive SMEs’ access to capital. In partnership with the Estonian startup community, research institutions and venture capital investors, SmartCap began to prepare for a new investment into deep tech fund.
We channel the returns from our investments back into new investments. In 2019 we made no new investments.