News

Why did they appeal to Estonian Development Fund for a VC investment?

04.08.2009

Heikki Haldre, Founder of Massi Miliano, that received in total 4,85 million EEK from the fund for its virtual fitting-room project Fits.me:

“Thanks to Estonian Development Fund we have received an advantage considering our further development. Preferably the investor needs to provide more than just money, he needs to support defining strategy and he also needs to have knowhow regarding upcoming exit or next investment round. Private investors or the investors without active approach to portfolio companies fail to provide all that. Yet Estonian Development Fund is among few professional VC funds in Estonia.”

Ragnar Sass, head of United Dogs & Cats, social network of pets. Received a VC investment in total 3,75 million EEK :

“We have chosen Estonian Development Fund because they invest into companies located in Eastern Europe. Many other VCs claimed that they are unable to do that.
Also, the negotiations with Estonian Development Fund were less complex than they would have been with a typical VC. Time was another crucial factor – we both had strong will to close the deal quickly.”

Eesti keeles | In English

Extranet login

Latest news

Development Fund steps in with investment in earlier phase than before
Development Fund invests in emerging enterprises Sportlyzer and Inner Circle in total 3 million EEK (Estonian kroon).
ICT-education report: With information technology support towards pupil-centered school
The report on usage of ICT in education, presented today by the Development Fund, presents a road map enabling Estonia to reform education system from class-centered into pupil-centered style. To get the change moving on one hand the leader must be found both in state and in schools and on the other hand the initiatives coming from teachers and pupils must be supported.
With information technology support towards pupil-centered school
The report on usage of ICT in education, presented today by the Development Fund, presents a road map enabling Estonia to reform education system from class-centered into pupil-centered style. To get the change moving on one hand the leader must be found both in state and in schools and on the other hand the initiatives coming from teachers and pupils must be supported.
Fits.me – robot-helper for online shoppers
Estonian Fits.me robotic torso ready to help men to shop for clothes online.
GrabCAD secured funding for it’s open source 3D library and CAD marketplace.
GrabCAD got 256K from Estonian Development Fund and AsterBaltic for creating 3D library for engineers to share models and marketplace for trading them.
Itella bought the sucessfully launched network of SmartPOST, a portfolio enterprise of Development Fund
The sale of SmartPOST's Estonian network helps the advance of the technology of parcel terminals to abroad.
Ott Pärna: Estonia 2018 - Globally Competitive, Locally Attractive
With the economic crisis today we face questions - to where from here, and how? A vision of a country is not just an adjective or sentence describing the future that anyone could shout out in their sleep. It is more of an inspiring and meaningful picture of the future, widely felt in the society.
Fits.me in FT.com: Small country, big on enterprise
About portfolio company Massi Miliano co-founder Heikki Haldre: He Like all Estonians, he understands that small is beautiful . . . and leverage is everything.
HEI cover story: Future scenarios put color around the data
HEI May 2010: Nick Turner, CEO of consulting company Global Business Network that is helping the Estonian Development Fund to compile the Estonian Growth Vision, talked to HEI, how and why should you look into future.
Mikko Kosonen: Finland is being threatened by Greek’s fate in five years
Interview with the President of the Finnish Innovation Fund SITRA about growth possibilities of Finland and SITRAs search for the Wellsprings of Finnish Vitality.