SEB pension funds become key investor in Estonian venture capital fund Superangel

The addition of SEB’s pension funds will boost the investment capacity of Superangel’s second fund to nearly 40 million euros, which will be channelled into innovative tech companies in Estonia, the Baltic States and the Nordic countries.

Superangel’s partner Marko Oolo said that having SEB on board as a key investor significantly expands the fund’s potential to drive innovation growth locally and in the New Nordic region: combined with investments already made, the fund will be investing a total of ca 40 million euros in the coming years.

“The partnership between SEB and Superangel shows that major institutional investors have long-term confidence in innovation in our region, even in today’s challenging economic environment,” Oolo said, adding that the investment significantly strengthens Superangel’s ability to invest in innovative tech companies. “This will have a significant impact on the further development of technologies and business growth both domestically and on the global markets,” he noted.

Superangel primarily focuses its investments on innovative technologies that have a positive impact in areas like artificial intelligence, robotics, energy, mobility, data and infrastructure. Its portfolio features Estonian start-up flagships including Bolt, Veriff, Montonio, Pactum and Starship Technologies, as well as the Dutch-based provider of electric vehicle charging solutions ROCSYS, the Norwegian deep tech start-up OTee and the Danish sustainable management platform BeCause.

SEB, one of the leading Nordic financial groups, has a presence in 22 countries around the world, but focuses on the Baltic States and Nordic countries. Its international reach allows the group to contribute capital, knowledge and contacts to assist in the development of tech companies operating in the New Nordic region. SEB’s pension funds are managed by SEB Varahaldus.

SEB Varahaldus manages six actively managed and two passive pension index funds. ‘While pension index funds can only invest in global listed companies, actively managed funds have a broader range of options and can also participate in the growth stories of early-stage companies in their home region. Innovative start-ups in the New Nordic region excellently complement our portfolios of higher-risk, higher-return actively managed pension funds. The team has a long and successful track record of investing in and supporting the development of technology companies. This is perfectly in line with SEB’s aim to promote sustainable innovation in the Baltic and Nordic countries. By joining forces, we will support the next wave of technological breakthroughs and contribute to the long-term development of our region’s ecosystem,’ said Endriko Võrklaev, Fund Manager at SEB Varahaldus.

Superangel’s second fund has raised nearly 40 million euros to date, and will be open for investors until the end of October.

Superangel is an early-stage Estonian venture capital fund dedicated to breakthrough technologies in Estonia, Baltics & Nordics. It currently has offices in Tallinn and Stockholm, the latter of which was opened last year so as to be in close proximity to Nordic innovation. Superangel’s ticket size ranges from 300,000 euros to 1 million euros.