Changing the World with Technology

We are the seed stage venture capital arm of Thorgate, doing up to four hands-on investments per year, mostly into scalable B2B solutions.

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About Us

We are hands-on seed investors grown out of startup entrepreneurs.

The story

After we had gone through what startup hassle is all about and built business model that actually works (Thorgate), we have decided to invest the extra capital gained in teams whose spirit and execution power is similar to ours.

The mission

Our mission is to use technology to make the world a better place. We are looking for teams that have a balance of team culture, passion, and rationality, and execution power. We believe that the right people together can build great businesses.

How We Invest

We invest in teams we would like to work together with.

50 000 EUR investment

If we see potential in you, we invest up to 50 000 EUR in cash into your project.

Hands-on developers

We have amazing developers and designers working very closely with us.

Passionate advisors

Our network of advisors knows everything you need for starting up.

Access to capital

We have access to extra capital for future investment rounds.

Startup know-how

We have built startups and thus know what building a startup actually means.

No bullshit

As entrepreneurs, we hate bullshit and therefore we do not invest in bullshit.


Over the years we have gathered an enthusiastic team of startup founders around us.

Raido Pikkar

Raido Pikkar

Founding Partner

Tel: +372 534 54720

Ivar Merilo

Ivar Merilo

Portfolio Manager

Tel: +372 580 81132


Several investors have joined us in investing.

Seedcamp is Europe's leading seed stage acceleration programme. In 2013, they co-invested in our GateMe project.
Vestman Energia is one of the partners of Thorgate and the main co-investor for Thorgate Ventures projects.
Alesco Ventures is a Tallinn based Japanese founded venture capital firm managed by a team of accomplished Japanese entrepreneurs.

Our Portfolio

We have done several investments so far.

Seedcamp is THE seed fund of Europe. Launched in May 2007 and with a portfolio of over 250 startups, we are part of their latest fund.

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Waybiller is an e-waybill solution that is already used by the largest Estonian road construction companies and wheat growers.

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Xolo is a turn-key solution to set up a location independent company with a bank account.

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Airborne inspection with autonomous drones and data platforms. Energy and Road technical consultation.

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GlobalReader is a real-time factory tracker providing cloud based Indusrty 4.0 tools in 8 countries and to more than 200 factories.

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Eziil helps manufacturing companies track and report their production data in real-time.

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Patchstack is protecting web applications from third-party code security risk.

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Moderan is real estate lease management and reporting automation software that maximizes revenue and property value.

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Remato is stress free construction software to manage teams, tools and projects.

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Brandpad is where design studios standardize their brand deliveries. Everything from creation to sharing and brand usage in one, dedicated place.

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GateMe is a ticketing and event management software for event organizers. It allows event organizers to sell tickets with 0% margin.

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U24 Solutions is a group of people from all around the world. Their mission is to offer extraordinary virtual reality games which are going to blow your mind

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Leansite was a cloud-based web application for construction management and team communication. It made constructions organized.


Enisef was an electronic energy manager. It collected data from smart meters, visualized it and allowed energy experts to comment it.


Sportlio helps you easily create your very own athlete page and find sponsors. Thousands of athletes have already signed up for Sportlio.


You could be listed here!

If you feel that you have an interesting idea, great team and you are looking for investment, then feel free to contact us.

Contact us

Contact Us

Looking for investment or startup advice? Contact us and we'll get back to you as soon as possible.