Estonian Smartcap joins Siena Secondary Fund II as lead investor

Estonian state-owned company SmartCap and the European Bank for Reconstruction and Development (EBRD) acted as lead investors in the Siena Secondary Fund II private equity fund, investing €10M each.

Siena Secondary Fund II is a secondary private equity fund investing in technology companies focused on Central and Eastern Europe and Scandinavia. Investors include Isomer Capital and more than 100 private investors, including founders and key employees of some of the region's successful technology companies, such as Bolt, Vinted, Pipedrive, Twilio, Wise, and others. Siena Secondary Fund was founded in 2021.The founding partners of the fund are Rain Tamm and Lauri Isotamm. The general partner is Rando Rannus. 

SmartCap was established in Tallinn in 2021 as a subsidiary of the Estonian Business and Innovation Agency. SmartCap manages two common closed-end alternative investment funds: SmartCap Venture Capital Fund and SmartCap Green Fund. The CEO of SmartCap is Sille Pettai.