Specialist VC
Specialist VC is a Tallinn-based early-stage venture capital fund backing 80+ technology companies across Estonia, Latvia, Lithuania, Finland, and Ukraine with €250k–€3M tickets from pre-seed to Series A, plus A+ secondaries. Fund II is backed by the EIF-supported BIF 2 Baltic initiative, with an LP base drawn from founders of Veriff, Wise, Bolt, and other regional tech leaders.
- Company typePrivate
- Founded2013
- HeadquartersTallinn, Estonia
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Specialist VC does
Specialist VC is a Tallinn-based venture capital fund investing in early-stage technology companies across the Baltics, Finland, and Ukraine. Founded in 2013 originally as United Angels and rebranded to its current name, the firm has backed more than 80 companies through angel activity and two fund vehicles, with primary check sizes ranging from a typical €250k entry ticket up to €3M at pre-seed through Series A stages, plus opportunistic secondaries in A+ rounds. The fund concentrates on B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech, and its portfolio includes category leaders such as Bolt, Starship Technologies, Veriff, and Lightyear.
The fund's core 'product' is Fund II — Usaldusfond Specialist VC Primary and Secondary Fund II — backed by the Baltic Innovation Fund 2 (BIF 2) initiative involving Estonia, Latvia, Lithuania, and the European Investment Fund. Specialist VC distributes capital through network-based deal sourcing (LP referrals, founder introductions, and direct outreach) rather than traditional marketing, supported by a 7-person Tallinn team of three investing partners plus investment management, analytics, and finance roles. Its competitive positioning rests on a differentiated LP base drawn from founders and early employees of Veriff, Wise, Bolt, Slack, Pipedrive, F-Secure, Kilo.Health, and Vinted — providing portfolio companies privileged operator access alongside capital.
The firm's revenue model is standard venture fund economics: management fees on committed/deployed Fund II capital plus carried interest on exits, with returns ultimately driven by portfolio company liquidity events. Recent 2025-2026 deployment — including €6M Series A into Copla, €6.4M Series A into Agileday, a €4M pre-Series A led for Yaga, a $23M Series B participation in Lightyear, and €1.6M into Nanordica Medical — signals active mid-life Fund II deployment and broadening geographic and vertical reach (medtech, regtech, AI-enabled SaaS).
Specialist VC firmographics
Firmographics- Name
- Specialist VC
- Legal name
- Usaldusfond Specialist VC Primary and Secondary Fund II
- Website
- https://specialist.vc
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Specialist VC is a Tallinn-based early-stage venture capital fund backing 80+ technology companies across Estonia, Latvia, Lithuania, Finland, and Ukraine with €250k–€3M tickets from pre-seed to Series A, plus A+ secondaries. Fund II is backed by the EIF-supported BIF 2 Baltic initiative, with an LP base drawn from founders of Veriff, Wise, Bolt, and other regional tech leaders.
- Ownership category
- akta.pro rank
Specialist VC industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)
Keywords
Where Specialist VC is headquartered
LocationHeadquarters
- HQ city
- Tallinn
- HQ country
- Estonia
- HQ region
- Europe
Offices1 record
Markets served
Specialist VC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Venture Capital Fund Management: Specialist VC generates returns through equity investments in early-stage tech companies. The fund manages capital from LPs and returns value through portfolio company exits. LP base consists of founders and early employees from tech companies such as Veriff, Wise, Bolt, Slack, Pipedrive, F-Secure, Kilo.Health, and Vinted, as well as portfolio company founders.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Pre-seed to Series A investments |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Specialist VC product offering
Product offeringCore offering
Specialist VC is a venture capital fund that provides equity capital to early-stage technology companies from pre-seed to Series A, with typical starting tickets of €250k and capacity up to €3m. The fund also participates in secondaries in A+ rounds and provides hands-on strategic support to portfolio founders. Investments are primarily directed at B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech companies in Estonia, Latvia, Lithuania, Finland, and Ukraine, with 80+ companies backed to date.
Product overview
Specialist VC is a venture capital fund that operates as a single investment vehicle (Fund II) providing early-stage capital and support to tech companies. Their primary offering is direct equity investment from pre-seed through Series A stages, with typical starting tickets of €250k and capacity up to €3m. The fund also facilitates angel co-investment opportunities. They focus on B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech across the Baltic, Finnish, and Ukrainian markets, having backed over 80 companies since 2013 including notable unicorns like Bolt, Starship, and Veriff.
Differentiator
Problem solved
Functional benefit
Products and services
- Specialist VC Fund II Venture capital fund providing pre-seed to Series A equity investment to early-stage tech companies in Estonia, Latvia, Lithuania, Finland, and Ukraine. Typical ticket sizes range from €250k to €3m, focusing on B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech.
- Angel Investment Program Direct angel investment activity carried out alongside the fund, enabling the partners to deploy personal capital into early-stage tech companies and build the firm's 80+ portfolio company track record.
Companies that use Specialist VC
Customer profileSegments2 records
Ideal customer profiles2 records
Specialist VC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Specialist VC partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
Specialist VC competitors and assessment
Company assessmentDirect peers
- Karma Ventures: Karma Ventures is a Tallinn-based early-stage VC focused on deep tech and B2B software in the Baltic/Nordic region, frequently co-investing with Specialist VC (e.g., Leil Storage). Both target pre-seed to Series A rounds with similar ticket sizes.
- Iron Wolf Capital: Iron Wolf Capital is a Lithuania-based early-stage VC focused on Baltic founders, leading rounds in companies like Copla alongside Specialist VC. Both target pre-seed to Series A in B2B SaaS, fintech, and deep tech across the Baltics.
- Change Ventures: Change Ventures is a Baltic-focused seed VC fund based in Tallinn, deploying pre-seed and seed tickets into Estonian, Latvian, and Lithuanian founders. It directly overlaps with Specialist VC on geography, stage, and target verticals.
- Practica Capital: Practica Capital is a Vilnius-based early-stage VC focused on Baltic startups from seed to Series A. It competes with Specialist VC for the same founder pool and shares the B2B/fintech investment thesis.
- Superangel: Superangel is an Estonian early-stage VC focused on B2B SaaS and fintech founders in the Baltics and Nordics, with comparable ticket sizes to Specialist VC. Both target similar verticals and stage profiles.
- Trind Ventures: Trind Ventures is a Nordic/Baltic early-stage VC that has co-invested with Specialist VC (Yaga). It targets pre-seed to Series A across the broader region with similar B2B and fintech themes.
- Startup Wise Guys: Startup Wise Guys is a Tallinn-based accelerator and early-stage investor in CEE/Baltic founders. It co-invested in Yaga with Specialist VC and competes for similar pre-seed deals in the region.
- 2C Ventures: 2C Ventures is a Tallinn-based early-stage VC that led the Nanordica Medical round alongside Specialist VC. Both focus on Baltic/Nordic founders at the seed and pre-Series A stages.
Broad incumbents
- Speedinvest: Speedinvest is a pan-European early-stage VC with multiple sector-focused funds and a broader geographic reach than Specialist VC. It increasingly deploys into the Baltic/Nordic corridor, competing for larger rounds.
- NordicNinja: NordicNinja is a Nordic-focused growth VC that led Lightyear's Series B alongside Specialist VC. It targets later-stage rounds than Specialist VC, complementing but also competing for follow-on capital.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Specialist VC social profiles
Digital presenceSpecialist VC financial estimates
Financial estimateRevenue estimate
Valuation estimate
Specialist VC leadership team
Management profileNumber of profiles
Profiles8 records
Specialist VC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Specialist VC M&A and investment
M&A and investmentM&A
Investments68 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Specialist VC
What does Specialist VC do?
Specialist VC is a venture capital fund that provides equity capital to early-stage technology companies from pre-seed to Series A, with typical starting tickets of €250k and capacity up to €3m. The fund also participates in secondaries in A+ rounds and provides hands-on strategic support to portfolio founders. Investments are primarily directed at B2B, SaaS, fintech, platforms, software-enabled hardware, and deep tech companies in Estonia, Latvia, Lithuania, Finland, and Ukraine, with 80+ companies backed to date.
Is Specialist VC a public or private company?
Specialist VC is a private company. It is classified as venture growth investor backed and is currently operating.
When was Specialist VC founded?
Specialist VC was founded in 2013. It employs 1 to 10 people.
Where is Specialist VC based?
Specialist VC is headquartered in Tallinn, Estonia, in the Europe region.
How does Specialist VC make money?
One revenue line is on record: venture Capital Fund Management.
Who are Specialist VC's main competitors?
Direct peers on record are Karma Ventures, Iron Wolf Capital, Change Ventures, Practica Capital, Superangel, Trind Ventures, Startup Wise Guys and 2C Ventures. Broad incumbents are Speedinvest and NordicNinja.
Does Specialist VC have an API?
No public API is recorded for Specialist VC.
What industry is Specialist VC in?
Specialist VC's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAE, Geography-Focused Venture Capital (Regional/Emerging Markets). Its NAICS code is 523940 and its SIC code is 6282.