SmartCap launches EUR 100 million Defence Fund

SmartCap has launched a 100 million euro Defence Fund aimed at advancing Estonia’s defense industry and developing innovative defense and security capabilities to meet the growing global demand.

The Defence Fund contributes to Estonia’s economic growth by improving access to local capital for defense sector companies. It invests in funds managed by both new and experienced fund managers. These funds support seed, early-stage, and growth-stage defense companies that develop or produce military or dual-use products and technologies.

SmartCap, established in 2011, is a small fund manager dedicated to developing Estonia’s venture capital market and supporting the international growth of ambitious and innovative Estonian companies.

COBALT advised SmartCap on fund documentation and regulatory matters. The advisory team included Partner Kristel Raidla-Talur, Managing Associate Greete-Kristiine Kuru and Specialist Counsel Mart Blöndal.