# Cybersecurity investors in the Baltics (2026 list) > 21 cybersecurity investors in the Baltics, 76% active in the last 12 months. Led by Index Ventures, FJ Labs, Startup Wise Guys. Ranked by what they funded. Source: https://millionrounds.com/lists/cybersecurity-investors-in-baltics (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Cybersecurity investors in the Baltics Updated 7 November 2026 Firms observed backing a cybersecurity company in the Baltics in the last two years, wherever the firm is based. [See all 21 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcybersecurity-investors-in-baltics)The top 21 **21** investors on the list No change this week **365** cheques in 12 months *-19%* against the market **$9.3M** median round they joined *+17%* against the market median **76%** wrote a cheque in 12 months **57%** have led a round ## The Top 21 Ordered by cheques observed, never by anything anyone paid for Deploying now (16) - 1 [Index Ventures](https://millionrounds.com/fund/index-ventures) *Deploying now* VC firm · United Kingdom **1,027** **$31M** median round **Nov 2026** last seen - 2 [FJ Labs](https://millionrounds.com/fund/fj-labs) *Deploying now* VC firm · United States **849** **$11M** median round **Oct 2026** last seen - 3 [Startup Wise Guys](https://millionrounds.com/fund/startup-wise-guys) *Deploying now* Accelerator · Estonia **237** **$551K** median round **Sept 2026** last seen - 4 [Creandum](https://millionrounds.com/fund/creandum) *Deploying now* VC firm · Sweden **224** **$20M** median round **Oct 2026** last seen - 5 [MMC Ventures](https://millionrounds.com/fund/mmc-ventures) *Deploying now* VC firm · United Kingdom **154** **$9.3M** median round **Nov 2026** last seen - 6 [Tenity](https://millionrounds.com/fund/tenity) *Deploying now* Accelerator · Switzerland **139** **$1.3M** median round **Sept 2026** last seen - 7 [Dawn Capital](https://millionrounds.com/fund/dawn-capital) *Deploying now* VC firm · United Kingdom **107** **$33M** median round **Oct 2026** last seen - 8 [Practica Capital](https://millionrounds.com/fund/practica-capital) *Deploying now* VC firm · Lithuania **70** **$3M** median round **Nov 2026** last seen - 9 [Superhero Capital](https://millionrounds.com/fund/superhero-capital) *Deploying now* VC firm · Finland **54** **$1.4M** median round **Oct 2026** last seen - 10 [Gorilla Capital](https://millionrounds.com/fund/gorilla-capital) *Deploying now* VC firm · Finland **40** **$1.1M** median round **Nov 2026** last seen - 11 [Specialist VC](https://millionrounds.com/fund/specialist-vc) *Deploying now* VC firm · Estonia **40** **$2.3M** median round **Jun 2026** last seen - 12 [FIRSTPICK](https://millionrounds.com/fund/firstpick) *Deploying now* VC firm · Lithuania **33** **$625K** median round **Sept 2026** last seen - 13 [Dig Ventures](https://millionrounds.com/fund/dig-ventures) *Deploying now* VC firm · United Kingdom **29** **$7.5M** median round **Oct 2026** last seen - 14 [Evantic Capital](https://millionrounds.com/fund/evantic-capital) *Deploying now* VC firm · United Kingdom **8** **$175M** median round **Oct 2026** last seen - 15 [Inovo VC](https://millionrounds.com/fund/inovo-vc) *Deploying now* VC firm · Poland **5** **$5.7M** median round **Sept 2026** last seen - 16 [Outlast Fund](https://millionrounds.com/fund/outlast-fund) *Deploying now* VC firm · Latvia **4** **$2.6M** median round **Jul 2026** last seen - 17 [CEO of Datadog](https://millionrounds.com/fund/ceo-of-datadog) quiet VC firm **1** **$35M** median round **Oct 2025** last seen - 18 [CEO of Klarna](https://millionrounds.com/fund/ceo-of-klarna) quiet VC firm **1** **$35M** median round **Oct 2025** last seen - 19 [CEO of Supercell](https://millionrounds.com/fund/ceo-of-supercell) quiet VC firm **1** **$35M** median round **Oct 2025** last seen - 20 [CEO of Wix](https://millionrounds.com/fund/ceo-of-wix) quiet VC firm **1** **$35M** median round **Oct 2025** last seen - 21 [CEOs of Datadog, Klarna, Supercell, and Wix](https://millionrounds.com/fund/ceos-of-datadog-klarna-supercell-and-wix) quiet VC firm **1** **$35M** median round **Oct 2025** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **4** Nov **[Phaze Inc.](https://millionrounds.com/company/phaze-inc)** Seed · $8.8M *With* [Index Ventures](https://millionrounds.com/fund/index-ventures) - **2** Nov **[Roleo](https://millionrounds.com/company/roleo)** Seed · $3.3M *Led by* [Practica Capital](https://millionrounds.com/fund/practica-capital) - **2** Nov **[LO:TECH](https://millionrounds.com/company/lo-tech)** Series A · $12M *Led by* [MMC Ventures](https://millionrounds.com/fund/mmc-ventures) - **2** Nov **[Sortrace](https://millionrounds.com/company/sortrace)** Seed · $800K *With* [Gorilla Capital](https://millionrounds.com/fund/gorilla-capital) - **30** Oct **[Ares Intelligence](https://millionrounds.com/company/ares-intelligence)** Seed · $3.2M *With* [Creandum](https://millionrounds.com/fund/creandum) - **30** Oct **[Serval](https://millionrounds.com/company/serval)** Series C · $150M *With* [Evantic Capital](https://millionrounds.com/fund/evantic-capital) ## Stages This Year 344 rounds - Seed **22%** - Series A **17%** - Venture **16%** - Series B **10%** - Series C **7%** - Other **27%** ## What They Backed Sectors, last 12 months - AI **185** - Fintech **44** - Software **19** - Financial Services **19** - Cybersecurity **16** - Healthcare **14** ## Cheques by Quarter Led Joined 121 Q1 25 108 Q2 25 121 Q3 25 135 Q4 25 103 Q1 26 103 Q2 26 85 Q3 26 31 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI investors in North America 3,859](https://millionrounds.com/lists/ai-investors-in-north-america) - [AI investors in Europe 2,283](https://millionrounds.com/lists/ai-investors-in-europe) - [Fintech investors in North America 1,309](https://millionrounds.com/lists/fintech-investors-in-north-america) - [Big Data & Analytics investors in North America 1,094](https://millionrounds.com/lists/big-data-investors-in-north-america) - [AI investors in Asia 1,047](https://millionrounds.com/lists/ai-investors-in-asia) - [Biotech investors in North America 1,001](https://millionrounds.com/lists/biotech-investors-in-north-america) - [Energy investors in North America 864](https://millionrounds.com/lists/energy-investors-in-north-america) - [Robotics investors in North America 848](https://millionrounds.com/lists/robotics-investors-in-north-america) - [Construction investors in North America 791](https://millionrounds.com/lists/construction-investors-in-north-america) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders in security - Hackers: Heroes of the Computer Revolution Steven Levy · 1984 4.16 from 8,649 ratings on Goodreads Security About the book A mere fifteen years ago, computer nerds were seen as marginal weirdos, outsiders whose world would never resonate with the mainstream. That was before one pioneering work documented the underground computer revolution that was about to change our world forever. With… On AmazonListen on Audible - The DevOps Handbook: How to Create World-Class Agility, Reliability, and Security in Technology Organizations Gene Kim · 2015 4.29 from 5,988 ratings on Goodreads Security Company building About the book Increase profitability, elevate work culture, and exceed productivity goals through DevOps practices.More than ever, the effective management of technology is critical for business competitiveness. For decades, technology leaders have struggled to balance agility, reliability,… On AmazonListen on Audible - Smartcuts: How Hackers, Innovators, and Icons Accelerate Success Shane Snow · 2014 3.88 from 6,577 ratings on Goodreads Security Company building Innovation About the book Entrepreneur and journalist Shane Snow (Wired, Fast Company, The New Yorker, and cofounder of Contently) analyzes the lives of people and companies that do incredible things in implausibly short time. How do some startups go from zero to billions in mere months? How did… On AmazonListen on Audible - The Innovators: How a Group of Hackers, Geniuses and Geeks Created the Digital Revolution Walter Isaacson · 2014 4.12 from 40,532 ratings on Goodreads Security Innovation Company building About the book Following his blockbuster biography of Steve Jobs, The Innovators is Walter Isaacson’s revealing story of the people who created the computer and the Internet. It is destined to be the standard history of the digital revolution and an indispensable guide to how innovation really… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=security). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about cybersecurity investors in the Baltics ### Who are the most active cybersecurity investors in the Baltics? By cheques observed, the most active are Index Ventures, FJ Labs, Startup Wise Guys, Creandum and MMC Ventures. ### How many cybersecurity investors in the Baltics are there? 21 are on record. 76% made an investment in the last 12 months and 57% have led a round. ### Which stages do cybersecurity investors in the Baltics back? Of the rounds with a named stage in the last 12 months, mostly Seed (28%) and Series A (22%). ### How big are the rounds cybersecurity investors in the Baltics join? The typical (median) round among the leading investors here is $9.3M. ### Which sectors do cybersecurity investors in the Baltics back most? In the last 12 months, mostly AI, Fintech and Software. ### Which cybersecurity investors in the Baltics lead the most rounds? Index Ventures (62 led), Creandum (12 led) and Dawn Capital (8 led). ### Where are cybersecurity investors in the Baltics based? Among the most active, most are based in the United Kingdom (5), Estonia (2) and Lithuania (2). ### What have cybersecurity investors in the Baltics invested in recently? Recent rounds include Phaze Inc. (Seed, Nov 2026, with Index Ventures), Roleo (Seed, Nov 2026, with Practica Capital) and LO:TECH (Series A, Nov 2026, with MMC Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)