# Specialist VC: portfolio, investments and team

> Specialist VC is a vc firm based in Estonia. 40 investments on record, 6 in the last 12 months, latest Jun 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/specialist-vc (Millionrounds; every figure on the page links to its filing or article)

Estonia · [Investor](https://millionrounds.com/investors)

# Specialist VC

Last cheque observed Jun 2026; 40 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A B2B SaaS Fintech

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Deploying now

**38%** of best year **6** **cheques in 12 months**, 40 on record

Since the last cheque **152** days **00** hrs **00** min **00** sec

Median round **$2.3M** Cheque size, as they say **$3.0M – $3.2M** Rounds led **1 of 40** Sole investor **6 rounds** Mostly in **Estonia, 68%**

Pitch Specialist VC

## Specialist VC highlights

- 01 6 cheques in the last 12 months
- 02 Mostly Seed and Venture: 58% of its rounds
- 03 Sole investor in 6 rounds, median $1.1M

## What they do

> We are a venture capital fund supporting forward-thinking founders from Estonia, Latvia, Lithuania, Finland and Ukraine. From their own website

- **Type:** VC firm
- **Cheque size:** $3.0M – $3.2M as they say
- **Stages:** Pre-seed Seed Series A
- **Sectors:** B2B SaaS Fintech
- **Based in:** Tallinn, Estonia
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **40 appearances**

- **2026** 3 rounds
- **Jun** **[Nanordica Medical](https://millionrounds.com/company/nanordica-medical)** Venture · EE · Firms' own news pages **$1.8M** With 7 others
- **Feb** **[CyberUpgrade](https://millionrounds.com/company/cyberupgrade)** Series A · LT **$7.1M** With 2 others
- **Jan** **[Agileday](https://millionrounds.com/company/agileday)** Series A · FI **$7.5M** With 3 others
- **2025** 15 rounds
- **Nov** **[Vocal Image](https://millionrounds.com/company/vocal-image)** Seed · EE · Crunchbase News **$3.6M** With 2 others
- **Nov** **[Yaga](https://millionrounds.com/company/yaga)** Pre-seed · EE · Firms' own news pages **$4.6M** *Led*
- **Nov** **[Leil Storage](https://millionrounds.com/company/leil-storage)** Seed · EE **$1.7M** Sole investor
- **Oct** **[Starship Technologies](https://millionrounds.com/company/starship-technologies)** Series C · US **$50M** With 3 others
- **Oct** **[Sera](https://millionrounds.com/company/sera)** Seed · EE **$1.8M** Sole investor
- **Aug** **[Better Medicine](https://millionrounds.com/company/better-medicine)** Pre-seed · EE · TechStartups **$1.2M** With 4 others
- **Aug** **[SensusQ](https://millionrounds.com/company/sensusq)** EE **$209K** With 1 other
- **Jul** **[Lightyear](https://millionrounds.com/company/lightyear)** Series B · GB · NordicNinja (JB Nordic Fund I) **$23M** With 12 others
- **Jul** **[VOOL](https://millionrounds.com/company/vool)** Seed · EE **$1.8M** With 2 others
- **Jul** **[Vok Bikes](https://millionrounds.com/company/vok-bikes)** Series A · EE **$5.9M** With 3 others
- **Jun** **[Flowstep](https://millionrounds.com/company/flowstep)** Seed · GB · Tera Ventures **$2.6M** With 8 others
- **Jun** **[Banani AI](https://millionrounds.com/company/banani-ai)** Venture · US **Undisclosed** With 2 others
- **Jun** **[AIATELLA](https://millionrounds.com/company/aiatella)** Seed · FI **$2.3M** With 1 other
- **May** **[eAgronom](https://millionrounds.com/company/eagronom)** Venture · EE **Undisclosed** With 1 other
- **Jan** **[Gridio](https://millionrounds.com/company/gridio)** Seed · EE **$2.5M** With 1 other
- **2024** 9 rounds
- **Nov** **[Miros](https://millionrounds.com/company/miros)** Pre-Series A · EE · EBRD Venture Capital **$6.6M** With 6 others
- **Nov** **[CyberUpgrade](https://millionrounds.com/company/cyberupgrade)** Seed · LT **$2.6M** With 2 others
- **Oct** **[Biteful](https://millionrounds.com/company/biteful)** Pre-seed · EE **$83K** With 1 other
- **Sept** **[Certific](https://millionrounds.com/company/certific)** Venture · EE **$778K** With 3 others
- **Apr** **[Supersimple](https://millionrounds.com/company/supersimple)** Pre-seed · EE **$2.2M** With 1 other
- **Mar** **[Salv](https://millionrounds.com/company/salv)** Venture · EE **Undisclosed** With 4 others
- **Feb** **[Bob W](https://millionrounds.com/company/bob-w)** Series B · FI **$43M** With 3 others
- **Feb** **[Kingdom Technologies](https://millionrounds.com/company/kingdom-technologies)** Venture · GB **$1.8M** With 3 others
- **Jan** **[CybExer Technologies](https://millionrounds.com/company/cybexer-technologies)** Debt · EE **$1.6M** Sole investor
- **2023** 7 rounds
- **Dec** **[PayQin](https://millionrounds.com/company/payqin)** Venture · GB **Undisclosed** With 6 others
- **Dec** **[Salv](https://millionrounds.com/company/salv)** Venture · EE **$4.3M** With 4 others
- **Nov** **[Flowstep](https://millionrounds.com/company/flowstep)** Pre-seed · EE · Firms' own news pages **$805K** With 2 others
- **Nov** **[Bilance](https://millionrounds.com/company/bilance)** Pre-seed · EE **$321K** Sole investor
- **Oct** **[Gearbox Biosciences](https://millionrounds.com/company/gearbox-biosciences)** Pre-seed · EE **$399K** Sole investor
- **May** **[Value.Space](https://millionrounds.com/company/value-space)** Seed · EE **$2.3M** With 3 others
- **Jan** **[Grúnfin](https://millionrounds.com/company/grunfin)** Seed · EE **$2.2M** With 2 others
- **2022** 3 rounds
- **Dec** **[LightCode Photonics](https://millionrounds.com/company/lightcode-photonics)** Venture · EE **Undisclosed** With 3 others
- **Jul** **[Yera](https://millionrounds.com/company/yera)** Seed · EE **$545K** Sole investor
- **Feb** **[FoodDocs](https://millionrounds.com/company/fooddocs)** Venture · EE **$2.4M** With 1 other
- **2021** 1 round
- **Feb** **[xolo](https://millionrounds.com/company/xolo)** Series A · DE **$3.9M** With 1 other
- **2020** 1 round
- **Sept** **[Outfunnel](https://millionrounds.com/company/outfunnel)** Pre-seed **$2.5M** With 3 others
- **2019** 1 round
- **Mar** **[Supervaisor](https://millionrounds.com/company/supervaisor)** Pre-seed **$1.3M** With 1 other

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 **4** 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.

## What they claim to have backed

From their own portfolio page (on their website)

**41** of 60 we have independently watched raise

[Agileday](https://millionrounds.com/company/agileday)[Aiatella](https://millionrounds.com/company/aiatella)[Bettermedicine](https://millionrounds.com/company/better-medicine)[Biteful](https://millionrounds.com/company/biteful)[Bobw](https://millionrounds.com/company/bob-w)[Bolt](https://millionrounds.com/company/bolt)[Certific](https://millionrounds.com/company/certific)[Clickandgrow](https://millionrounds.com/company/click-and-grow)[Comodule](https://millionrounds.com/company/comodule)[Eagronom](https://millionrounds.com/company/eagronom)[Epicbrief](https://millionrounds.com/company/epicbrief)[Exit to Cake Equity](https://millionrounds.com/company/salto-x)[Exit to Pockit](https://millionrounds.com/company/monese)[Exit to Quantum Systems](https://millionrounds.com/company/sensusq)[Flowstep](https://millionrounds.com/company/flowstep)[Fooddocs](https://millionrounds.com/company/fooddocs)[Fractory](https://millionrounds.com/company/fractory)[Gearbox](https://millionrounds.com/company/gearbox)[Giraffe360](https://millionrounds.com/company/giraffe360)[Gridio](https://millionrounds.com/company/gridio)[Inzmo](https://millionrounds.com/company/inzmo)[Kilo](https://millionrounds.com/company/kilo)[Koos](https://millionrounds.com/company/koos)[Meetfrank](https://millionrounds.com/company/meetfrank)[Memoryos](https://millionrounds.com/company/memoryos)[Miros](https://millionrounds.com/company/miros)[Montonio](https://millionrounds.com/company/montonio)[Patchstack](https://millionrounds.com/company/patchstack)[Salv](https://millionrounds.com/company/salv)[Sonarworks](https://millionrounds.com/company/sonarworks)[Starship](https://millionrounds.com/company/starship-technologies)[Startupwiseguys](https://millionrounds.com/company/startup-wise-guys)[Supersimple](https://millionrounds.com/company/supersimple)[Timbeter](https://millionrounds.com/company/timbeter)[Twicecommerce](https://millionrounds.com/company/twice-commerce)[Veriff](https://millionrounds.com/company/veriff)[Vocalimage](https://millionrounds.com/company/vocal-image)[Vokbikes](https://millionrounds.com/company/vok-bikes)[Vool](https://millionrounds.com/company/vool)[Xolo](https://millionrounds.com/company/xolo)[Yaga](https://millionrounds.com/company/yaga) Amorphous Banani Bilanceapp Codemagic Copla Cust Cybexer Drhouse Exit Exit to GoCardless Exit to Jetbeep Exit to MTG Exit to Pipedrive Exit to SiteMinder Leil Lightyear Nanordica Procurli Project closed and 6 more

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

Pre-seed Seed Series A

Median round joined **$2.3M** the round, not its cheque Alone, median **$1.1M**

Led 1 of 40 rounds **3%**

- **Said size:** $3.0M – $3.2M
- **Sole investor:** 6 rounds
- **Last cheque:** Jun 2026

Rounds by stage said on their site

- Seed said *11*
- Venture *10*
- Pre-seed said *9*
- Series A said *4*
- Series B *2*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Superangel](https://millionrounds.com/fund/superangel) 10
- [Startup Wise Guys](https://millionrounds.com/fund/startup-wise-guys) 6
- [Metaplanet](https://millionrounds.com/fund/metaplanet) 4
- [FIRSTPICK](https://millionrounds.com/fund/firstpick) 3
- [Ring Capital](https://millionrounds.com/fund/ring) 3
- [Tera Ventures](https://millionrounds.com/fund/tera-ventures) 3

**Pitching Specialist VC?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Specialist VC. A count of rooms they were both in, not a relationship either has claimed.

[**Superangel** VC firm **10** rounds together](https://millionrounds.com/fund/superangel)[**Startup Wise Guys** Accelerator **6** rounds together](https://millionrounds.com/fund/startup-wise-guys)[**Metaplanet** VC firm **4** rounds together](https://millionrounds.com/fund/metaplanet)[**FIRSTPICK** VC firm **3** rounds together](https://millionrounds.com/fund/firstpick)[**Ring Capital** VC firm **3** rounds together](https://millionrounds.com/fund/ring)[**Tera Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/tera-ventures)[**Business Finland** Accelerator **2** rounds together](https://millionrounds.com/fund/business-finland)[**EIC Accelerator** Government **2** rounds together](https://millionrounds.com/fund/eic-accelerator)[**Fly Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/fly-ventures)[**Passion Capital** VC firm **2** rounds together](https://millionrounds.com/fund/passion-capital)[**Seedcamp** VC firm **2** rounds together](https://millionrounds.com/fund/seedcamp)[**Superhero Capital** VC firm **2** rounds together](https://millionrounds.com/fund/superhero-capital)

## Recently backed

The latest companies Specialist VC put money into.

[**Nanordica Medical** $1.8M · Jun 2026](https://millionrounds.com/company/nanordica-medical)[**CyberUpgrade** $7.1M · Feb 2026](https://millionrounds.com/company/cyberupgrade)[**Agileday** $7.5M · Jan 2026](https://millionrounds.com/company/agileday)[**Vocal Image** $3.6M · Nov 2025](https://millionrounds.com/company/vocal-image)[**Yaga** $4.6M · Nov 2025](https://millionrounds.com/company/yaga)[**Starship Technologies** $50M · Oct 2025](https://millionrounds.com/company/starship-technologies)

## Quick answers about Specialist VC

### What does Specialist VC invest in?

Specialist VC invests most often at Seed and Venture (58% of the rounds on record), in sectors such as B2B, SaaS and Fintech.

### How active is Specialist VC?

40 investments on record, 6 of them in the last 12 months, and it led 1. The most recent was in Jun 2026.

### What has Specialist VC invested in recently?

Its most recent investments on record: Nanordica Medical (Venture, Jun 2026), CyberUpgrade (Series A, Feb 2026) and Agileday (Series A, Jan 2026).

### How big are Specialist VC's cheques?

The median round it joins is $2.3M. It says it writes cheques of $3.0M to $3.2M.

### Does Specialist VC lead rounds?

Sometimes: it led 1 of its 40 investments on record (3%).

### Where does Specialist VC invest?

Most of the companies it backs are in Estonia (68%), the United Kingdom (11%) and Finland (8%).

### Is Specialist VC investing now?

Yes: it is actively investing, with 6 investments in the last 12 months.

### Who does Specialist VC invest alongside?

Most often Superangel (10 rounds together), Startup Wise Guys (6 rounds together) and Metaplanet (4 rounds together).

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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=specialist-vc) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=specialist-vc)