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Estonian Development Fund moves with it’s new investments into even earlier project phase. Freshest investment has been made to emerging enterprises Sportlyzer and Inner Circle in total up to 3 million EEK (Estonian kroon).

Sportlyzer is developing a internet environment connecting athletic people with training and motivational software for the international market. For now the solution for internet-based has been created. The goal of Sportlyzeri is to create software of training advices and feedback to ensure service for hobby sport-people independent from the hourly fees and working schedules of the advisers. Sportlyzer has passed through the international business incubator of Development Fund, the SeedBooster, where the business plan and realization tactics were polished up to clear goals and milestones. Sportlyzer’s team is led by the establisher of Vomax Tõnis Saag. Also the creator of CV Online and Nagi Jüri Kaljundi is participating. Former CEO of Playtech Rein Lemberpuu acts as co-investor.

Inner Circle presents itself as trashfree Facebook'ina. The ambition of the enterprise is to create and go global with an user-friendly environment for group socialising, which differes from the current Facebook by privacy principles.     The co-establisher of Inner Circle is Allan Martinson and team is led by former head of Estonian Delfi Andrus Raudsalu. Next to Development Fund the private co-investors are AS Regio (CEO Teet Jagomägi) and Live Nature Eesti OÜ (board member Raivo Vare).

The head of investment division of Development Fund Heidi Kakko stated that both Sportlyzer and Inner Circle are investments into seed stage enterprises and the prototype or business model is only in testing.

"The seed stage start-ups have difficulties in finding investments all over the world, so as the developer of local venture capital market we pay more attention to the competent teams and emerging enterprises in very earlier stage.

 In the beginning the amount of investment is small, but new investments will be necessary when the in time with the seizing markets the need for additional capital arises.  For instance an the portfolio enterprise Massi Miliano, which was chosen for investment by Development Fund a year ago, has given results and persuaded current and new investors to increase the investment capital by one million euro,”  said Heidi Kakko.

Estonian Development Fund has been established by Riigikogu (Parliament) for orginising foresight projects and for investing in innovative ambitious  Estonian technology enterprises. For livening the local venture capital market a private investor/s are always included under same conditions as Development Fund’s own investment.  Also in Development Fund the international business incubator SeedBooster is acting for developing ambitious business models to increase their readyness  for investments and market potential.

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