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Change Ventures

Venture Capital

Change Ventures is the first pre-seed/seed venture capital fund with boots on the ground in all three Baltic states, backing ambitious Baltic founders anywhere in the world.

Tallinn, Estonia · 20+ investments · 15 portfolio companies

Pre-Seed
Seed
Artificial Intelligence
Deep Tech
E-Commerce
EdTech
Fintech
Robotics
SaaS
Headquarters
Tallinn, Estonia
Founded
2016
Website
changeventures.com
AUM
$54.0M
Portfolio Companies
15
Total Investments
20
Last Investment
Jun 2025
Geographic Focus
Europe

Investment Thesis

The only pan-Baltic pre-seed and seed venture capital fund, backing ambitious founders from Estonia, Latvia, and Lithuania — and the global Baltic diaspora — who have the grit to build massive global businesses. Primary investment criterion is team quality and resilience. Deeply embedded in the Baltic startup ecosystem with extensive networks of successful founders, angels, and later-stage investors.

Change Ventures is a Venture Capital firm based in Tallinn, Estonia. It has made 20 investments, including Saltz, Trace.Space and TheMonetizr. Focus areas include Artificial Intelligence and Deep Tech.

Portfolio15

Co-investors24

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24 co-investors across 33 shared portfolio companies — who they back alongside, and how often they lead.

Venture Capital ×19 · Private Equity ×3 · Accelerator ×2 · 32 shared rounds

Investment History

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