62 Most Active Estonian Angel Investors (2022)

If you're fundraising for your startup, this list should come in handy. And feel free to ask me for an introduction to any of the investors in this list.

Back in 2019 I compiled and published this post -

36 Most Active Estonian Angel Investors (2019)

Seeing how useful it has been for founders, it’s about time I updated the list. An investor list quickly becomes out of date, as one year an angel investor might be active, the next they are taking a pause.

But bear in mind, this is not just an up to date 2022 list of the most active angel investors. Unlike VCs, who have their website where they explain their investment thesis and criteria, angels often don't make their preferences public. So to help founders avoid hearing more “no’s” than necessary and avoid wasting precious time,

I’ve reached out to every single one of the investors listed and asked for what their preferences, such as ticket size, preferred stage, focus sectors, what try to avoid, how many investments made in the last year, as well as their top investments.

This time I was thinking how I could help founders even further - so I put up the list in an Airtable - now it’s possible to sort, filter, search. In fundraising what works best is connecting with an investor through an introduction. So 🥁🥁🥁 - I’ve added an “Ask for intro” button - if your email is short and sweet, your blurb is solid, and I believe it would be a good match with the investor, I will do my best to make a double opt in introduction for you.

Here is a preview to the list - it includes founders of unicorns such as Bolt and Pipedrive, as well as Skype Mafia.

And here is the link to the list:

https://airtable.com/shrU9hC4npbU4mY0N/tblQLsCnbSGR1PLDl?filter_Country=Estonia

P.S. If you have in mind any additional Estonian angel investors who belong in this list, feel free to suggest!

Note: many have asked - why just Estonian angel investors; why not feature others?
Many of the investors in the list have been investors in my first startup, Funderful (500Startups, exited), and I feel grateful for the support they’ve given me so this is also a way of saying thanks. Also, I see Estonia has an amazing community of angel investors, that should be tapped by founders outside of Estonia.
That said in the nearest future I do plan to build a list of top Baltic angel investors, and Nordic angel investors.

© Raimonds Kulbergs, 2021. No part of this post and posts on raimonds.substack.com/, may be reproduced in whole or in part in any manner without the permission of the copyright owner.