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Thorgate Ventures

Founders Ivar Merilo Janar Merilo Raido Pikkar Toomas Uripea

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.

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Total investments 22
Average round size
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The average size of a deal this fund participated in
$477K
Portfolio companies 16
Rounds per year 1.69
Lead investments 3
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.27
Key employees 2
Stages of investment
Seed

Areas of investment

  • Software
  • SaaS
  • Information Technology
  • Construction
  • Cyber Security
Summary

Thorgate Ventures is the famous VC, which was founded in 2016. The venture was found in Europe in Estonia. The main department of described VC is located in the Tallinn.

The typical case for the fund is to invest in rounds with 2 participants. Despite the Thorgate Ventures, startups are often financed by CyLon. The meaningful sponsors for the fund in investment in the same round are Startup Wise Guys, Seedcamp, Mistletoe. In the next rounds fund is usually obtained by Vendep Capital, United Angels VC, Leap Ventures.

Moreover, a startup needs to be at the age of 2-3 years to get the investment from the fund. Among the most popular portfolio startups of the fund, we may highlight Xolo. Among the most successful fund investment fields, there are Fitness, Energy. For fund there is a match between the country of its foundation and the country of its the most frequent investments - Estonia.

The fund is constantly included in less than 2 investment rounds annually. The usual things for fund are deals in the range of 100 thousands - 1 million dollars. Considering the real fund results, this VC is 3 percentage points less often commits exit comparing to other organizations. The top activity for fund was in 2019.

This organization was formed by Ivar Merilo, Janar Merilo, Raido Pikkar, Taavi Teska, Toomas Uripea. The overall number of key employees were 2.

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Bilance

FinTech
05 Dec 2022 Tallinn, Harjumaa, Estonia

Coursy

Corporate Training
Human Resources
SaaS
Software
22 Jun 2022 Tallinn, Harjumaa, Estonia

Waybiller

Logistics
Transportation
$590K13 Apr 2021 Tallinn, Harju maakond, Estonia

U24 Solutions

Biotechnology
Health Care
Information Technology
Pharmaceutical
Software
$1M05 Feb 2021 Tallinn, Harju maakond, Estonia

Hepta Airborne

Analytics
Artificial Intelligence
Autonomous Vehicles
Big Data
CleanTech
Drones
Predictive Analytics
Software
Software Engineering
$2M02 Feb 2021 Tallinn, Harju maakond, Estonia

CupLOOP

Hardware
Software
$649K15 Jan 2021 Tallinn, Harjumaa, Estonia

Eziil

$413K05 Oct 2020 Estonia, Viljandi maakond, Estonia

Construction
SaaS
Software
$531K16 Sep 2020 Estonia, Tartu maakond

Waybiller

Logistics
Transportation
$147K23 Mar 2020 Tallinn, Harju maakond, Estonia

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Total investments 22
Average round size 477K
Rounds per year 1.69
Peak activity year 2019
Lead investments 3
Follow on index 0.27
Group Appearance index 0.68

Latest deals

CompanyIndustryRound SizeDateInvestorsLocation

Bilance

FinTech
05 Dec 2022 Tallinn, Harjumaa, Estonia

Coursy

Corporate Training
Human Resources
SaaS
Software
22 Jun 2022 Tallinn, Harjumaa, Estonia

Waybiller

Logistics
Transportation
$590K13 Apr 2021 Tallinn, Harju maakond, Estonia

U24 Solutions

Biotechnology
Health Care
Information Technology
Pharmaceutical
Software
$1M05 Feb 2021 Tallinn, Harju maakond, Estonia

Hepta Airborne

Analytics
Artificial Intelligence
Autonomous Vehicles
Big Data
CleanTech
Drones
Predictive Analytics
Software
Software Engineering
$2M02 Feb 2021 Tallinn, Harju maakond, Estonia

CupLOOP

Hardware
Software
$649K15 Jan 2021 Tallinn, Harjumaa, Estonia

Eziil

$413K05 Oct 2020 Estonia, Viljandi maakond, Estonia

Construction
SaaS
Software
$531K16 Sep 2020 Estonia, Tartu maakond

Waybiller

Logistics
Transportation
$147K23 Mar 2020 Tallinn, Harju maakond, Estonia
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