Estonia-based 2C Ventures has announced the launch of its initial fund, with a target size of €50 million. It aims to support early-stage cleantech startups in the Baltic and Nordic countries, focusing primarily on the Estonian market.
- 2C Ventures, established in 2023, is an investment company managed by four partners:
- Herty Tammo, founder of Startup Wise Guys,
- Hendrik Reimand, head of finance of the Estonian scaleup Katana Technologies,
- Taavi Veskimägi, CEO of Estonian electricity and gas TSO Elering,
- Martin Koppel, angel investor and formerly the co-founder and CEO of Fortumo.
- Headquartered in Tallinn, the firm is dedicated to addressing climate change and enhancing funding opportunities for cleantech projects in Estonia, the wider Baltic Sea region, and Nordic countries.
"We are convinced that innovative cleantech companies play a critical role in shaping a sustainable future. At the same time, we also believe that the green transition will represent the biggest capital relocation of the century and that the next big success stories and unicorns in Estonia will come from cleantech," Hendrik Reimand comments.
- The fund will support startups that develop renewable energy, waste reduction, water management, circular economy, and other cleantech solutions. Depending on the company’s stage, the initial investment ticket’s size will range from €250,000 to €1 million.
- The anchor investor of 2C Ventures fund is SmartCap, the Estonian state investment arm, with other LPs being primarily Estonian entrepreneurs from the technology, energy, construction, and forestry sectors.
