SmartCap Green Fund invests 20 million euros in 2C Ventures Fund I dedicated to green technologies

Ellex law firm in Estonia advised SmartCap Green Fund, the national green technology fund managed by AS SmartCap, on the 20 million euro investment in venture capital fund 2C Ventures Fund.

Through its “Greentech Fund 2022/09” as an anchor investor SmartCap Green Fund is investing 20 million euros in 2C Ventures, Estonia’s first investment fund focusing on clean technologies. The 2C Ventures fund with a total size of 50 million euros, aims to improve capital accessibility for startups developing clean economy technologies of the future.

The new investment fund launched by 2C Ventures is Estonia’s first to exclusively focus on clean economy technologies. With a total size of 50 million euros, the fund aims to solve environmental problems, adapt to climate change, increase venture capital supply for Estonian clean economy companies, and make a climate-neutral economy a competitive advantage for Estonia.

Besides SmartCap Green Fund, other investors mainly include Estonian entrepreneurs from the technology, energy, construction, and forestry sectors.

SmartCap Green Fund was advised by Ellex Partner Antti Perli and Counsel Gerd Laub.

SmartCap Green Fund principal purpose is to increase the supply of venture capital to new green technologies by making investments via other venture capital funds or directly into innovative and/or research-intensive green technology companies.