Change Ventures
ActiveVenture Capital
Updated: ·
Financial History
Total Raised
N/A
Valuation
N/A
Leadership Team
Key people at Change Ventures.
Key people at Change Ventures.
Key people at Change Ventures.
Change Ventures is a seed-stage venture capital fund based in the Baltic states (Estonia, Latvia, Lithuania) that focuses on backing ambitious Baltic founders globally, including the diaspora. Their mission is to empower early-stage technology startups by providing pre-seed and seed capital, typically ranging from €100K to €1.5M, alongside hands-on mentorship and access to a broad network of investors and industry experts. The firm primarily invests in sectors such as fintech, AI, health tech, enterprise IT, robotics, and software, aiming to help startups achieve product-market fit and scale globally. By nurturing local talent and fostering innovation, Change Ventures plays a pivotal role in shaping the Baltic startup ecosystem and connecting it to international markets[1][2][4][7].
Founded in 2016 and headquartered in Tallinn, Estonia, Change Ventures was established to support the growing pool of Baltic tech entrepreneurs. The founding partners bring extensive experience in early-stage venture capital and technology entrepreneurship, with backgrounds that include angel investing, startup founding, and venture advisory roles. Over time, the firm has evolved to focus on pre-seed and seed investments with a strong emphasis on backing teams capable of building global-scale businesses. Their investment approach is data-driven and operator-focused, leveraging a network of founders, angel investors, and venture partners to support portfolio companies beyond capital[1][4][6].
Change Ventures rides the global trend of early-stage venture capital focusing on technology innovation and regional ecosystem development. The Baltic states have emerged as a vibrant tech hub with a high density of startups and unicorns per capita, making the timing ideal for a fund dedicated to this region. Market forces such as increasing digital transformation, AI adoption, and fintech innovation favor Change Ventures’ investment thesis. By bridging local talent with global markets and capital, the firm influences the broader ecosystem by accelerating startup growth, attracting international attention to the Baltics, and fostering a culture of scalable technology entrepreneurship[1][4][6].
Looking ahead, Change Ventures is positioned to deepen its impact by continuing to back Baltic founders with global ambitions, leveraging its growing network and expertise. Trends such as AI, fintech innovation, and health tech will likely shape their portfolio focus. As the Baltic startup ecosystem matures, Change Ventures’ role as a key early-stage investor and ecosystem builder will likely expand, potentially increasing fund sizes and deal flow. Their commitment to founder support and global scaling suggests they will remain a vital catalyst for Baltic tech innovation and international venture capital interest[1][4][6].
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jun 1, 2025 | enVgo | $2.0M Seed | — | Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings, Scribble Ventures, Tapas Capital, Two Small Fish Ventures, Adrian Aoun, Ameet Ranadive, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin Lin, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Jun 1, 2025 | Aerones | $62.0M Series B | — | Future Positive Capital, Y Combinator, Jaan Tallinn, James Berdigans, Janis Krums, Mantas Mikuckas |
| May 1, 2025 | Persi | $890K Seed | — | Haatch |
| Jan 1, 2025 | Grid Raven | $4.0M Seed | — | 42CAP, Fund Fellow Founders, Icebreaker.vc, Kristjan Vilosius |
| Oct 1, 2024 | Origin Robotics | $3.0M Seed | — | Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings, Scribble Ventures, Tapas Capital, Two Small Fish Ventures, Adrian Aoun, Ameet Ranadive, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin Lin, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Oct 1, 2024 | Modash.io | $12.0M Series A | — | Fund Fellow Founders, Icebreaker.vc, Kristjan Vilosius |
| Aug 1, 2024 | Trigify | $1.0M Seed | — | Haatch, InReach Ventures |
| Jul 1, 2024 | Streamkap | $3.0M Seed | — | Creandum, Haatch, InReach Ventures, Notion Capital, Andreas Mihalovits |
| May 1, 2024 | AM Craft | $650K Seed | — | Andrius Slimas, Martin Villig |
| Jan 1, 2024 | Downpayments | $1.0M Seed | — | 7percent Ventures, Morpheus Ventures, Second Century Ventures, VentureSouth, Triin Hertmann |
| Dec 1, 2023 | Inspectle Food | $430K Seed | — | Andrius Slimas, Artis Kehris |
| Nov 1, 2023 | Walk15 | $540K Seed | — | Future Positive Capital, Y Combinator, Jaan Tallinn, James Berdigans, Janis Krums |
| Oct 1, 2023 | Grubbly Farms | $9.0M Series A | — | Amadeo, Cyberlaunch, Overline VC, Starta Accelerator, TMV, Kyle Porter |
| Jul 1, 2023 | Formaloo | $2.0M Seed | — | gener8tor, Hyde Park Venture Partners, Interplay Ventures, KRM Interests LLC, Andrius Slimas, Artis Kehris |
| Apr 1, 2023 | Monetization Solutions, Inc. | $4.0M Seed | — | Amadeo, Karma Ventures, Overline VC, Shorewind Capital, Starta Accelerator |
| Feb 1, 2023 | Cocoli | $3.0M Seed | — | 50 Partners Impact, Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings, Scribble Ventures, Tapas Capital, Two Small Fish Ventures, Adrian Aoun, Ameet Ranadive, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Julien Callede, Kevin Lin, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Romain Afflelou, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Dec 1, 2022 | Aerones | $32.0M Series A | — | Future Positive Capital, GE Ventures, Market One Capital, Toyota Ventures, Union Square Ventures, Y Combinator, Jaan Tallinn, James Berdigans, Janis Krums, Mantas Mikuckas, Thomas Plantenga |
| Nov 1, 2022 | Modash.io | $2.0M Seed | — | Fund Fellow Founders, Global Founders Capital, Icebreaker.vc, Sapphire Ventures, Kaarel Kotkas, Kristjan Vilosius, Markus Villig, Triin Hertmann |
| Nov 1, 2022 | Streamkap | $630K Seed | — | Haatch, Notion Capital, Andreas Mihalovits |
| Nov 1, 2022 | Adam | $1.0M Seed | — | Presto Ventures, Kristjan Vilosius, Martin Villig, Ragnar Sass |
| Oct 1, 2022 | Cloud Factory Jewelry | $2.0M Seed | — | James Berdigans, Kristjan Vilosius, Mantas Mikuckas, Markus Villig, Martin Villig, Ragnar Sass |
| Oct 1, 2022 | Cloud Factory | $2.0M Seed | — | Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings, Scribble Ventures, SID Venture Partners, Tapas Capital, Two Small Fish Ventures, Adrian Aoun, Ameet Ranadive, Artis Kehris, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin Lin, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Oct 1, 2022 | Nook | $2.0M Seed | — | Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings, Scribble Ventures, Tapas Capital, Two Small Fish Ventures, Adrian Aoun, Ameet Ranadive, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin Lin, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Sep 1, 2022 | Ovoko | $14.0M Series A | — | 11k Ventures, Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Contrarian Ventures, Dreamers VC, FJ Labs, Goodwater Capital, Khosla Ventures, L Catterton Growth, Lightspeed Venture Partners, Market One Capital, Moxxie Ventures, Pareto Holdings, Scribble Ventures, SOSV, Tapas Capital, Two Small Fish Ventures, White Star Capital, Adrian Aoun, Ameet Ranadive, Bob Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin Lin, Kevin Weil, Markus Villig, Martin Henk, Martin Villig, Mathias Ockenfels, Nico Rosberg, Ott Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha Rao |
| Aug 1, 2022 | RecruitLab | $2.0M Seed | — | Urmas Purde |
