Tallinn-based Superangel raises additional investment for its second fund from financial group SEB

Estonian Superangel has raised additional investment for its second fund from financial group SEB, which became a major investor in Superangel. The deal will increase the investment potential of Superangel’s second fund to almost €40M.

In 2022, the Estonian investment company announced the launch of a €50M fund. One of the lead investors was Estonia’s SmartCap Venture Capital Fund, a subsidiary company of the Estonian Business and Innovation Agency. SmartCap backed Superangel with €15M. Other investors included the Estonian financial group LHV and the Superangel team. Superangel's general partners personally committed 10% of the fund. 

Founded in Tallinn in 2018 by Veljo Otsason and Rain Rannu, Superangel focuses on pre-seed and seed investments in the Baltics and Nordic countries. General partners are Marko Oolo and Mikko Silventola. The Estonian investment firm focuses on artificial intelligence, robotics, energy, mobility, data and infrastructure. The typical ticket size is between €300K and €800K.

SEB is a financial group focused on the Baltic and Nordic countries, supporting technology companies in these regions. In addition to capital, the group provides startups with knowledge and contacts. The financial group's pension funds are managed by SEB Varahaldus, a subsidiary fund of SEB Life and Pension Baltic SE, which are part of the SEB Group. SEB Varahaldus manages six actively managed and two passive pension index funds. Actively managed pension funds can participate in early-stage growth stories in their region. The fund manager of SEB Varahaldus is Endriko Võrklajevs.