The Greentech Fund Call 2022/09 received a total of six applications
The applications will be evaluated according to the procedure set out in the call document.
The initial evaluation process is expected to take place during the Q1 2023, while the final selection of the fund managers is expected to fall into the end of the summer of 2023.
SmartCap’s call to select up to two private fund managers for establishing and managing green technology investment funds – to which SmartCap Green Fund will make a €20 million cornerstone investment each – received a total of six applications.
“It is encouraging to see that fund managers have shown a healthy interest in the call and wish to be a part of supporting the green transition through the new greentech funds, whose aim is to accelerate the launch of innovative products, services and technologies,” said SmartCap investment manager Karl Järvsalu. “It is a proof of the potential that venture capital sees in green technology.”
The applications will be evaluated according to the procedure set out in the call document. Managers will be assessed for criteria like team, investment strategy and proposed terms of the fund, with an aim to select up to two fund manager teams that have competence and experience, which would help to support the growth and development of early stage Estonian green technology companies with high growth potential.
SmartCap launched the Greentech Fund Call 2022/09 on 6 September 2022 and the application process was closed on 23 December 2022. The initial evaluation process is expected to take place during the Q1 2023, while the final selection of the fund managers is expected to fall into the end of the summer of 2023.
More information about the call is available here
SmartCap Green Fund is financed by the European Union NextGenerationEU Recovery and Resilience Facility funds.