
UniTartu Ventures unlock the potential of research-based entrepreneurship in Estonia
We team up with early-stage deep tech investors and the University of Tartu linked researchers, startups and spinn-off’s
“In ten years, Estonia has achieved an excellent position in developing start-ups in IT. Now we are aiming to upscale the creation of innovative international companies based on research done also in other fields. The timing is right and the expert knowledge of the researchers of the University of Tartu is the best intellectual capital for investing”
Heidi Kakko,
Chairman of Board, UniTartu Ventures
UniTartu Ventures is a holding and investment company of the University of Tartu
Key investment criterias
- Global market potential
- Intellectual knowledge-based uniqueness
- Solid team, with the ambition to grow and scale
- Connected in past or/and future to University of Tartu
Role as investor
- Building investment readiness, to join from the pre-seed round
- Keeping long view, act as an evergreen fund
- Connecting next touchpoints with academia and matching portfolio synergies
For idea owners, entrepreneurs
Structured framework to apply the science competencies in a commercial environment and onboard knowledgeable investors
Business and team growth mentoring
IP strategy creation
Investment readiness building, co-investors onboarding
Growth support with the evergreen mindset
The organisation model
As a result of research created based on the University of Tartu infrastructure, the IP rights belong to the university. To unlock the research commercial potential, we invest in ‘IP-for-equity’ transactions. We work in partnership with the university Entrepreneurship and Innovation Center, by adding the option to support companies as investors who have a long-term view of building companies. Our prerequisite is to have co-investors who invest at least equal capital value to IP value. The readiness building to make financial and follow-on investments are in progress.
The Board
Supervisory, exceptions handling
Heidi Kakko, Investor, Board member of University
Vahur Kraft, Entrepreneur
Erik Puura, Vice-rector for Development
Kristjan Vassil, Vice-rector for Research
Kalle Hein, CFO of the University of Tartu
Investment committee
Support for investment activities
Inka Mero, Voima Ventures
Lars Jonsson, ex-Uppsala Uni Holding
Cengiz Tarhan, ex-UCL Business
Kaidi Ruusalepp, Fundrebeam
Kärt Siilats, Change Ventures, Mojo Capital

Investment Director of UniTartu Ventures
Mart is an executive with a proven management track record and 20 years of international business experience in the financial sector, in SEB Group in the Baltics and Sweden, focused on business development, change and innovation leadership.
Mart has co-founded ecosystem movements like the largest entrepreneurship program Ajujaht and Innovation Leaders Club in Estonia, and studied innovation management at Stanford GSB. He has personal experiences as an entrepreneur and an angel investor
Now focusing on creating a sustainable platform where research-based entrepreneurship and early-stage investors meets, rolling out UniTartu Ventures
UniTartu Ventures is a holding and investment company, owned 100% by University of Tartu
Centre for Entrepreneurship and Innovation
For more information contact +3725277352 I ventures@ut.ee
