SEB pension funds become a key investor in Estonia’s Superangel: Know more

Tallinn-based Superangel, an early-stage investment fund and company builder, announced that its second fund will increase its investment capacity to nearly €40M with the addition of SEB’s pension funds.

This capital will be directed toward innovative tech companies in Estonia, the Baltic States, and the Nordic countries.

Superangel’s partner Marko Oolo emphasised that SEB’s involvement as a key investor enhances the fund’s ability to drive local innovation growth and expand in the New Nordic region.

Oolo says, “The partnership between SEB and Superangel shows that major institutional investors have long-term confidence in innovation in our region, even in today’s challenging economic environment. This will have a significant impact on the further development of technologies and business growth both domestically and on the global markets.”

The second fund will be open for investors until the end of October.

Early-stage funding for industry changers

Founded in 2018, Superangel is an early-stage Estonian venture capital fund focused on breakthrough technologies in the Baltics and Nordics, with offices in Tallinn and Stockholm. 

Its investment range is between €300K and €1M, targeting innovative technologies that positively impact areas like AI, robotics, energy, mobility, data, and infrastructure. 

The fund’s portfolio includes prominent Estonian startups such as Bolt, Veriff, Montonio, Pactum, and Starship Technologies, alongside international companies like ROCSYS, OTee, and BeCause.

In May 2024, Superangel participated in a €1.75M investment round for the Estonian medtech company Nanordica Medical. 

Brief about SEB

SEB is a Nordic financial group operating in 22 countries, with a primary focus on the Baltic States and Nordic countries. Its global presence allows it to support tech companies in the New Nordic region through capital, expertise, and connections. 

SEB’s pension funds are managed by SEB Varahaldus, which oversees six actively managed and two passive pension index funds.

Endriko Võrklaev, Fund Manager at SEB Varahaldus, says, “While pension index funds can only invest in global listed companies, actively managed funds have a broader range of options and can also participate in the growth stories of early-stage companies in their home region.”

“Innovative startups in the New Nordic region excellently complement our portfolios of higher-risk, higher-return actively managed pension funds. The team has a long and successful track record of investing in and supporting the development of technology companies. This is perfectly in line with SEB’s aim to promote sustainable innovation in the Baltic and Nordic countries.”

“By joining forces, we will support the next wave of technological breakthroughs and contribute to the long-term development of our region’s ecosystem.”