# SmartCap: portfolio, investments and team > SmartCap is a vc firm based in Estonia. 7 investments on record, 2 in the last 12 months, latest Aug 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/smartcap (Millionrounds; every figure on the page links to its filing or article) Estonia · [Investor](https://millionrounds.com/investors) # SmartCap Last cheque observed Aug 2026; 7 cheques on record. Email Deploying now VC firm Seed Series A Series B Venture Capital Green Technology Defence Follow SmartCap and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fsmartcap) Deploying now **100%** of best year **2** **cheques in 12 months**, 7 on record Since the last cheque **88** days **00** hrs **00** min **00** sec Median round **$105M** Rounds led **0 of 7** Sole investor **1 rounds** Mostly in **Estonia, 57%** Pitch SmartCap ## SmartCap highlights - 01 2 cheques in the last 12 months - 02 Mostly Series A and Seed: 71% of its rounds - 03 Sole investor in 1 rounds, median $310K ## What they do > SmartCap provides cornerstone investments for private fund managers to create a vital venture capital market in Estonia and enable ambitious and innovative Estonian companies to emerge and grow globally. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B - **Sectors:** Venture Capital Green Technology Defence - **Based in:** Tallinn, Estonia - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **7 appearances** - **2026** 2 rounds - **Aug** **[Kraken Technology](https://millionrounds.com/company/kraken-technology)** Series B · GB · Ventureburn **$175M** With 13 others - **Feb** **[Frankenburg Technologies](https://millionrounds.com/company/frankenburg-technologies)** Series A · EE · Ventureburn **$35M** With 1 other - **2013** 3 rounds - **Sept** **[Startup Wise Guys](https://millionrounds.com/company/startup-wise-guys)** Crowdfunding · EE · arcticstartup.com **$1.3M** With 1 other - **Apr** **[Fits.me](https://millionrounds.com/company/fits-me)** Series A · EE · techcrunch.com **$7.2M** With 3 others - **Mar** **[Realeyes](https://millionrounds.com/company/realeyes)** Series A · GB · hollywoodreporter.com **$3.2M** With 1 other - **2012** 1 round - **May** **[Sportlyzer](https://millionrounds.com/company/sportlyzer)** Seed · EE **$250K** With 1 other - **2011** 1 round - **Jan** **[Realeyes](https://millionrounds.com/company/realeyes)** Seed · GB · arengufond.ee **$310K** Sole investor An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team We hold **12** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. Funds they back ## 1 fund commitment on record - **Managers:** 1 Every fund on record that it has committed money to, and the managers who invest it. Source: fund news. Managers it backs most - [DTCP 1 fund](https://millionrounds.com/fund/deutsche-telekom-strategic-investments) Most recent commitments - [DTCP DTCP Defence Fund I](https://millionrounds.com/fund/deutsche-telekom-strategic-investments) ## What they claim to have backed From their own portfolio page (on their website) **17** of 33 we have independently watched raise [Bisly](https://millionrounds.com/company/bisly)[Cuploop](https://millionrounds.com/company/cuploop)[Elcogen](https://millionrounds.com/company/elcogen)[Farsight Vision](https://millionrounds.com/company/farsight-vision)[Fractory](https://millionrounds.com/company/fractory)[Frankenburg Technologies](https://millionrounds.com/company/frankenburg-technologies)[Gridio](https://millionrounds.com/company/gridio)[Kraken Technology Group](https://millionrounds.com/company/kraken-technology-group)[Paul-Tech](https://millionrounds.com/company/paul-tech)[Plural Fund II](https://millionrounds.com/company/plural)[Skeleton Technologies](https://millionrounds.com/company/skeleton-technologies)[SkySelect](https://millionrounds.com/company/skyselect)[Stargate Hydrogen](https://millionrounds.com/company/stargate-hydrogen)[Starship Technologies](https://millionrounds.com/company/starship-technologies)[UP Catalyst](https://millionrounds.com/company/up-catalyst)[Vok Bikes](https://millionrounds.com/company/vok-bikes)[eAgronom](https://millionrounds.com/company/eagronom) 2C Ventures Fund I Antler Nordic Fund II Baltic Innovation Fund 3 DTCP Defence Fund I Darkstar Ventures Fund I Fusebox NATO Innovation Fund NSI Nordic Science I Norrsken Evolve Fund II PowerUP Energy Technologies Siena Secondary Fund II Superangel Two Taaleri SolarWind III Tera Ventures I Wise Guys Investment OÜ ÄIO Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## The cheque Seed Series A Series B Median round joined **$105M** the round, not its cheque Alone, median **$310K** Led 0 of 7 rounds **0%** - **Sole investor:** 1 rounds - **Last cheque:** Aug 2026 Rounds by stage said on their site - Series A said *3* - Seed said *2* - Crowdfunding *1* - Series B said *1* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Entrepreneurs Fund](https://millionrounds.com/fund/entrepreneurs-fund) 2 **Pitching SmartCap?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as SmartCap. A count of rooms they were both in, not a relationship either has claimed. [**Entrepreneurs Fund** VC firm **2** rounds together](https://millionrounds.com/fund/entrepreneurs-fund) ## Recently backed The latest companies SmartCap put money into. [**Frankenburg Technologies** $35M · Feb 2026](https://millionrounds.com/company/frankenburg-technologies) ## Quick answers about SmartCap ### What does SmartCap invest in? SmartCap invests most often at Series A and Seed (71% of the rounds on record), in sectors such as Venture Capital, Green Technology and Defence. ### How active is SmartCap? 7 investments on record, 2 of them in the last 12 months. The most recent was in Aug 2026. ### What has SmartCap invested in recently? Its most recent investments on record: Kraken Technology (Series B, Aug 2026) and Frankenburg Technologies (Series A, Feb 2026). ### How big are SmartCap's cheques? The median round it joins is $105M. ### Does SmartCap lead rounds? Rarely, if at all: none of its 7 investments on record names it as the lead. ### Where does SmartCap invest? Most of the companies it backs are in Estonia (57%) and the United Kingdom (43%). ### Is SmartCap investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does SmartCap invest alongside? Most often Entrepreneurs Fund (2 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=smartcap) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=smartcap)