SmartCap

VC Firm·Tallinn, Estonia·~EUR 404M AUM across three funds

SmartCap is an Estonian state-owned venture capital fund manager, established in 2011 as a subsidiary of the Estonian Business and Innovation Agency. It operates under a licence from the Estonian Financial Supervision Authority, managing over 400 million euros across three funds: a Venture Capital Fund, a Green Fund, and a Defence Fund. SmartCap provides cornerstone investments to private VC fund managers and makes direct investments in early-stage companies, with a mission to develop Estonia's venture capital market and help innovative companies scale globally.

Focus Areas

Deep TechCleantechDefence TechDual-Use TechnologiesGreen Technology

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Portfolio

1 company in our directory

Kraken Technology

Shipbuilding·Growth

Kraken Technology Group is a UK-based designer and manufacturer of high-performance uncrewed surface vessels for defence and commercial maritime operations. Founded by Mal Crease, a 25-year veteran of the maritime industry with a background in high-performance offshore racing and Formula One engineering, the company develops modular, open-architecture autonomous vessels using composite materials. Key products include the K3 SCOUT reconnaissance USV, K4 MANTA subsurface delivery platform, and K5 KRAKEN precision engagement platform. Kraken secured a £12.3M Royal Navy order for 20 uncrewed surface vessels under Project Beehive and has partnered with NVL, one of the world's premier shipbuilders, to scale manufacturing globally. The company is backed by the NATO Innovation Fund and UK National Security Strategic Investment Fund.