Estonia is looking for a private fund manager to take over from start of 2017 the investment portfolio of around 15 investments of its VC firm Smartcap.
started investing in 2008 and has since made five exits, including high-profile sales of GrabCAD and Modesat.
There are around 10 million euros of cash available for follow-on investments into current portfolio companies, which include Lingvist, Monese, Jobbatical and Vital Fields.
Fund managers need to show interest by mid-July and the decision on the future management of shareholdings s expected by the end of September.
Current Smartcap is refocusing to investments into accelerator funds., and the state plans to move it under Kredex management.