Deep Tech Fund 2020/12

SmartCap invites private fund managers to submit an Expression of Interest for establishing and managing a deep tech investment fund.

SmartCap has launched a Call for Expression of Interest (Call) to select a private fund manager for establishing and managing a new deep tech investment fund, to which Early Fund II, a venture capital fund-of-funds managed by SmartCap will make a cornerstone investment in the amount of 15 million euros.

The principal purpose of the Call is to increase the availability of venture capital for early-stage privately held non-listed SMEs established or operating in Estonia, which meet both of the following criteria (i.e., deep tech companies):

1. the product or service is based on scientific advancement and development or meaningful engineering innovation; and
2. the product or service development is based on or results in commercializable intellectual property.

The fund shall be managed with the aim to maximise the return for the investors. In addition, the investments made by the fund should target to support changes in the Estonian economy by helping to modernize the economy, ensure export growth and create new high value-added jobs.

Call documents and relevant appendices:

• Call for Expression of Interest to select a private fund manager for establishing and managing a deep tech investment fund
• Template for the Expression of Interest (EoI)
• Template for the Declaration of Honour
• Template for the GDPR Consent Form

The applicants may submit requests for clarification regarding the Call. Requests for clarification shall not receive individual replies, answers to requests received by on deadline that are relevant to the Call and to all applicants shall be published in one or several clarification document(s) on this website. 

The applicants interested in participating in the Call shall submit an EoI complying with the requirements set out in the Call no later than 1 March 2021.