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Venture Capital
specialist.vc

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Investments

19

Funds

1

About Specialist VC

Specialist VC is an early-stage venture capital fund based in Estonia.

Specialist VC Headquarter Location

Tatari 64

Tallinn, 10134,

Estonia

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Latest Specialist VC News

Specialist VC Launches a €50M Dual Strategy Fund to Back Startups in the Baltics and Beyond

Feb 17, 2022

Specialist VC Launches a €50M Dual Strategy Fund to Back Startups in the Baltics and Beyond 2022 Specialist VC – formerly United Angels VC – announces the first close of a new €50M fund at €42M. While the main focus of Specialist VC Fund II  is on pre-seed and seed-stage startups, the fund is distinguished as being the first of its kind in the Baltic region to implement a dual strategy of integrating secondary transactions into a traditional venture capital fund. Specialist VC, founded and managed by Riivo Anton and Gerri Kodres, is one of the top tech investors in Estonia. Specialist VC is often the first institutional investor to its portfolio companies, investing alongside top local angel investors and unicorn founders. The combined portfolio of its founders and the previous fund (United Angels Fund I, launched in 2018) includes over 45 investments in unicorns, such as Bolt and Veriff, and other notable startups, such as Starship, COMODULE, Monese, and NFTPort. “We are continuing our mission to help the founders of this region build impactful global companies. The region has been a remarkably successful breeding ground for startups, with Estonian startups alone raising close to a billion euros of funding in 2021. We see Lithuania and Latvia following the same path,” said Specialist VC Founding Partner Riivo Anton. The new fund will invest in over 40 startups from Lithuania, Latvia, Estonia, and Finland, including founders from these countries who are building their startup elsewhere in the world, and founders from Ukraine and Belarus who are building their businesses in the European  Union. The fund will focus on but is not limited to, investing in tech startups raising pre-seed and seed rounds in B2B, SaaS, fintech, platforms, software-enabled hardware, Web3, and deep tech verticals. A third of the fund volume is reserved for opportunity investing in secondary transactions into companies beyond Series A.  Gerri Kodres, Founding Partner of Specialist VC , commented: “Our more than 10 years of investment experience and extensive network in the region gives us access to a wealth of proprietary deal flow. We can see an increasing inbound demand for secondary transactions by founders and investors, with more and more companies maturing into Series A+ and nearly 80% of capital in the Baltics is raised in post-A rounds. Secondary transactions benefit the ecosystem as they provide liquidity for founders and early investors and employees. Besides, the proceeds from such transactions are often reinvested in new early-phase startups.”  The final close of Fund II is scheduled for the end of May 2022. The new fund is already backed by founders and early employees of Bolt, Vinted, Veriff, Wise, Pipedrive, Slack and F-Secure, and institutions, such as LHV Pension Funds and Avaron Asset Management. The fund is anchored by the European Investment Fund through the Pan-European Guarantee Fund (EGF) and the Baltic Innovation Fund 2 (BIF2).

Specialist VC Investments

19 Investments

Specialist VC has made 19 investments. Their latest investment was in Yera as part of their Seed VC on July 7, 2022.

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Specialist VC Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/20/2022

Seed VC

Yera

$0.55M

Yes

2

4/5/2022

Seed VC - II

Kingdom Technologies

$2.62M

Yes

1

2/15/2022

Seed VC

CybExer Technologies

$5.68M

Yes

6

2/10/2022

Series A

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$99M

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10

2/10/2022

Seed VC - II

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$99M

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10

Date

7/20/2022

4/5/2022

2/15/2022

2/10/2022

2/10/2022

Round

Seed VC

Seed VC - II

Seed VC

Series A

Seed VC - II

Company

Yera

Kingdom Technologies

CybExer Technologies

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Amount

$0.55M

$2.62M

$5.68M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

6

10

10

Specialist VC Fund History

1 Fund History

Specialist VC has 1 fund, including Specialist VC Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/10/2022

Specialist VC Fund II

$48.24M

1

Closing Date

2/10/2022

Fund

Specialist VC Fund II

Fund Type

Status

Amount

$48.24M

Sources

1

Specialist VC Team

2 Team Members

Specialist VC has 2 team members, including current Founding Partner, Riivo Anton.

Name

Work History

Title

Status

Indrek Kasela

Founder

Current

Riivo Anton

Founding Partner

Current

Name

Indrek Kasela

Riivo Anton

Work History

Title

Founder

Founding Partner

Status

Current

Current

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