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