Venture fund Plural moves from the UK to Estonia

Venture fund Plural is moving its parent company from the UK to Estonia, where its subsidiary was previously located. According to documents submitted to the Registration Chamber, the fund's shares were transferred to the Estonian company back in February.

According to Plural representatives, the move from the UK is due to the fact that, from a regulatory point of view, it is more reasonable to have a parent company registered in the European Union. At the same time, the fund does not intend to leave the UK, and its team and investments in the country will continue to grow.

However, there has been a recent exodus of companies from the UK ahead of the expected tax increases for businesses. For example, the founder and CEO of the fintech company Revolut, Nick Storonsky, has moved from the UK to the UAE.

Founded in 2022 by Estonian entrepreneurs Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.