Estonian VC Superangel launches new €50M fund

The Tallinn-based VC fund Superangel has announced the launch of a new €50 million fund. Its primary focus is deeptech startups from the Baltics and the Nordics, Sifted reports.

• Founded in 2018 by Marek Kiisa, Rain Rannu, and Veljo Otsason, Superangel provides early-stage investments from entrepreneurs to entrepreneurs. The team invests between €100,000 and €1 million, mostly in seed and Series A rounds.
• Superangel launched its first fund worth €16 million in 2018. In total, the team has invested in more than 100 startups worldwide. Unicorns like mobility app Bolt, identity verification startup Veriff, and intelligent revenue platform Pipedrive are among them.
• Some of the more recent investments from Superangel include an €11 million Series A round for Montonio and a €1.8 million seed round for EyeVi Technologies.

“We’re going to continue building on the success of this region, of Estonia. We have an even clearer focus on deep tech, areas where companies have a more significant part of their intellectual property in science, technology, or meaningful engineering innovation,”

 Veljo Otsason from Superangel on the new fund.

• Superangel is aiming to make about 40 investments in total from the second fund, about ten a year for the next four years.