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Venture Capital
karma.vc

Investments

37

Portfolio Exits

4

Funds

2

Partners & Customers

1

About Karma Ventures

Karma Ventures is an early-stage venture capital firm that specializes in late seed and Series A round investments.

Headquarters Location

Toompuiestee 33a

Tallinn, 10149,

Estonia

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Latest Karma Ventures News

EstVCA and universities again team up for a special Private Equity and Venture Capital syllabus

Jan 31, 2023

In the 2023 spring semester, a specially tailored PE/VCl syllabus will be taught for the second time at two universities in Estonia - TalTech and Estonian Business School. The 8-week course, created in cooperation between the universities and EstVCA, provides a detailed overview of the role of PE/VC funds in the development and growth of companies at different development stages. In the 2023 spring semester, a specially tailored Private Equity and Venture Capital syllabus will be taught for the second time at two universities in Estonia - TalTech and Estonian Business School. The 8-week course, created in cooperation between the universities and the Estonian Private Equity and Venture Capital Association (EstVCA), provides a detailed overview of the role of PE/VC funds in the development and growth of companies at different development stages. The syllabus is designed on the basis of both Estonian and international practices, and the lecturers are experienced fund managers and experts in the field.The syllabus consists of a total of seven thematic blocks: 1. Introduction to the nature and role of private equity and venture capital in the economy; 2. Different strategies for private equity and venture capital and the links between financing and the life cycle of companies; 3. The main differences between private equity and venture capital in terms of investment management, risk-return profile, and valuation of the company; 4. The legal framework and operating principles of the private equity and venture capital fund; 5. Investment valuation and techniques; 6. Private equity transaction case-study (“buy and build” strategy); 7. Case study of a venture capital transaction (seed phase company). The course ends with a summary exam.The lecturers of the new curriculum are experienced fund managers and experts in the field, including: Kristjan Kalda (BaltCap), Heidi Kakko (UniTartu Ventures), Martin Kõdar (BaltCap), Kristjan Laanemaa (Karma Ventures), Hendrik Reimand (Katana), Yrjö Ojasaar (Change Ventures), Indrek Kaldoja (eAgronom), Linda-Riin Võeras (Karma Ventures), Mihkel Kolk (Deca Legal), Kalle Ahi (TalTech), and Aet Toots (EBS).TalTech will start the syllabus on February 8, 2023 in Estonian, and EBS will begin the syllabus on March 8, 2023 in English. The new curriculum is mainly aimed at university students, but to a certain extent, people not enrolled at either school can join through TalTech. For students enroled at TalTech, those interested in the course can also take it as an in-service training. The number of places is limited and registration is available at TalTech - LINKEstonian Business School - LINK**Tallinn University of Technology (TalTech) is the flagship of technical and IT science and education in Estonia, where higher education is available at all levels in engineering and technical sciences, information technology, economics, natural sciences and maritime affairs. TalTech's mission is to be a promoter of science, technology and innovation and a leading provider of engineering and economic education in Estonia. www.taltech.eeEstonian Business School (EBS) is the oldest private university in Estonia focused on economics education, with a total of 1,400 students studying at the bachelor's, master's and doctoral level, who can complete their knowledge at 60 partner universities around the world. EBS also includes a gymnasium with 120 students. www.ebs.eeThe Estonian Private and Venture Capital Association (EstVCA) is an organization uniting representatives of the private equity and venture capital industry and support service providers in the field, whose assets under management amounted to 2.88 billion euros at the end of 2021. Today, EstVCA has 59 member organizations, the main members of which are Ambient Sound Investments, BaltCap, BPM Capital, Change Ventures, Eften Capital, European Investment Fund, European Bank for Reconstruction and Development, Iron Wolf Capital, Kaamos Group, Karma Ventures, KredEx, LHV Varahaldus, Livonia Partners, Perot Jain, Siena Secondary Fund, SmartCap, Superangel, Startup Wise Guys, Swedbank Investment Funds, Tera Ventures, Trind Ventures, United Partners, UP Invest, and Wellman. www.estvca.eeAdditional information:Kadri LindpereManaging DirectorEstonian Private and Venture Capital Association / EstVCA+372 505 1239kadri@estvca.eeKalle AhiLecturer at the Department of Economics and FinanceTalTechkalle.ahi@taltech.eeMaarja MurumägiAcademic Vice-RectorEstonian Business Schoolmaarja.murumagi@ebs.ee

Karma Ventures Investments

37 Investments

Karma Ventures has made 37 investments. Their latest investment was in Bfore.Ai as part of their Series A on November 11, 2022.

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Karma Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/8/2022

Series A

Bfore.Ai

$3.99M

Yes

Addenda Capital, Karista, Karma Ventures, and Undisclosed Angel Investors

1

9/9/2022

Series C

Jobbatical

$11.67M

Yes

5

7/7/2022

Series B

Lucinity

$17M

No

4

5/3/2022

Series A

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$99M

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10

2/16/2022

Series B

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$99M

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10

Date

11/8/2022

9/9/2022

7/7/2022

5/3/2022

2/16/2022

Round

Series A

Series C

Series B

Series A

Series B

Company

Bfore.Ai

Jobbatical

Lucinity

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Amount

$3.99M

$11.67M

$17M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Addenda Capital, Karista, Karma Ventures, and Undisclosed Angel Investors

Sources

1

5

4

10

10

Karma Ventures Portfolio Exits

4 Portfolio Exits

Karma Ventures has 4 portfolio exits. Their latest portfolio exit was SpectX on September 14, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/14/2021

Acquired

$99M

2

2/11/2021

Acquired

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$99M

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10

10/20/2020

Acquired

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$99M

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10

8/27/2020

Acquired

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$99M

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10

Date

9/14/2021

2/11/2021

10/20/2020

8/27/2020

Exit

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

Karma Ventures Fund History

2 Fund Histories

Karma Ventures has 2 funds, including Karma Ventures II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/29/2021

Karma Ventures II

$113M

2

5/22/2018

Karma Ventures I

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$99M

10

Closing Date

11/29/2021

5/22/2018

Fund

Karma Ventures II

Karma Ventures I

Fund Type

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Status

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Amount

$113M

$99M

Sources

2

10

Karma Ventures Partners & Customers

1 Partners and customers

Karma Ventures has 1 strategic partners and customers. Karma Ventures recently partnered with SpectX on September 9, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

9/15/2021

Partner

Estonia

1

Date

9/15/2021

Type

Partner

Business Partner

Country

Estonia

News Snippet

Sources

1

Karma Ventures Team

3 Team Members

Karma Ventures has 3 team members, including , .

Name

Work History

Title

Status

Tommi Uhari

Founder

Current

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Name

Tommi Uhari

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Work History

Title

Founder

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Status

Current

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