Estonia is a fertile ground for finding new unicorns, and now one more foreign investor is joining this compact but talent-rich ecosystem. Nordic Science Investments (NSI), a Finnish VC fund focused on university innovations, has appointed Mart Maasik as partner to head their Estonian operations. Maasik, formerly CEO of UniTartu Ventures, a VC spinoff of Tartu University, brings over 20 years of experience in science-based ventures across the Baltic-Nordic region.
Mart Maasik
NSI, targeting an €80 million fund launch in Q1 2025, is breaking new ground as the first venture capital fund in the Nordics and Baltics specifically dedicated to science-based startups. The fund’s approach, inspired by successful models in the US and UK, combines early-stage venture capital with strategic university partnerships and tech transfer expertise. Universities in Estonia have already proved themselves formidable players in kick-starting science-based startups. BioTech company ÄIO originated in 2022 as a spin-off from TalTech. Meanwhile, the University of Tartu, the country’s flagship institution, has over two dozen spin-offs.
“By building a collaborative network, we are setting the stage for high-impact ventures and elevating the Nordics and Baltics as leaders in scientific innovation,” stated Maasik. Under his leadership of Estonian operations, NSI aims to bridge the critical gap between academic research and commercial success by providing capital and strategic support to early-stage companies.
Estonia is already breaking records in DeepTech investments, but the new move presents even more opportunities for local research-based startups. Through NSI’s extensive university partnerships and tech transfer networks, Estonian scientists and researchers will gain better access to the resources, mentorship, and funding needed to transform their innovations into scalable businesses.
NSI’s portfolio showcases promising ventures, including Perfat Technologies, Solu Stainless, Thestra, and 7 Semiconductors.
Want to join the ecosystem? Learn more about South Estonia, home of theUniversity of Tartu, and send us a request for 1:1 e-Consulting to connect with our advisors.
