Change Ventures
Venture capitalTallinn · Pre-Seed–Seed · 10 people tracked
Investment thesis
Change Ventures makes initial pre-seed investments of €100k-500k in teams building globally scalable businesses. It focuses on local Baltic founders based in Estonia, Latvia or Lithuania, or Baltic founders in the diaspora worldwide. The firm's primary criterion is the quality and grit of the team. Beyond capital, it offers hands-on support to help startups reach product-market fit and provides access to a deep network of later-stage investors and partners.
Source: firm website, verified Aug 3, 2026.
Team · 10 people
from the firm's website & public directories
What they invest in
from 17 of 53 portfolio companiesSaaS ×8AI & Machine Learning ×5Enterprise Software ×4Fintech ×4E-commerce ×3Healthtech ×3Advanced Manufacturing ×2Cleantech ×2
HQs:Estonia×5United States×4United Kingdom×2Bulgaria×1India×1Latvia×1
Investments · 53 tracked
founders shown can be your intro pathSan Jose, US
Janis Putrams(Executive Officer, Director)Bala Nagarajan(Director)Paul Neal Jordan(Director)Dainis Kruze(Executive Officer, Director)Nigel McCleave(Director)Andris Berzins(Director)
Board seatAndris K. Berzins· per SEC Form D · $62.3M raise · filed Jul 2025
BirdyChat is a chat and messaging application that integrates WhatsApp messaging with professional team collaboration features including group chats, community building, and AI tool integration for work teams and organizations.
AI & Machine LearningFuture of WorkSaaSSofia, BG
Cloud Factory offers on-demand manufacturing, design, and drop-shipping services for custom branded jewelry merchandise, using recycled 925 sterling silver and plastic-free packaging.
Circular EconomyCreator EconomyE-commerce
Mobile app and cloud platform for simultaneous interpretation and audio streaming at live events.
Fyma develops AI-powered computer vision software for commercial real estate that analyzes spaces for occupancy, footfall, and anomaly detection while maintaining GDPR compliance and individual privacy.
AI & Machine LearningData & InfrastructureEnterprise SoftwarePropTechLondon, GB
Karen Burns(Founder & CEO)inSam Pound-Jones(Head of Sales)inKaarel Kivistik(Head of Software)inEd Halliday(COO)in
GoCardless provides bank payment collection and open banking data access services.
FintechLondon, GB
Inspectle is a food safety inspection and task management platform that automates compliance documentation, non-conformity tracking, and report generation for food producers.
Enterprise SoftwareFoodTechSaaSTallinn, EE
Interactio provides remote simultaneous interpretation and multilingual meeting solutions using software and human interpreters for conferences, business meetings, and governmental sessions.
AI & Machine LearningEnterprise SoftwareSaaS
Henrikas Urbonas(Co-founder)Simona Andrijauskaite(Co-founder)Domas Labokas(Co-founder)
Memby offers online group tutoring in mathematics, Afrikaans, and physical science for South African students following CAPS or IEB curricula, with groups capped at 10 students per class led by experienced tutors.
EdTech
Memby provides a platform for healthcare and educational providers to create, prescribe, and track play-based interventions for children from birth onwards, addressing documented declines in childhood play and associated developmental outcomes.
Digital HealthEdTechHealthtechRockford, US
Oberlo provides free tools and resources for entrepreneurs to start and grow ecommerce businesses through dropshipping.
Direct to ConsumerE-commerceSaaS
Printify is a print-on-demand platform that enables entrepreneurs to build eCommerce businesses by connecting them with a global network of printing providers.
B2B MarketplacesCreator EconomyDirect to ConsumerE-commerceSaaS<UNKNOWN>, US
James BerdigansJanis Berdigans(Executive Officer, Director)Gatis Dukurs(Director)Ravi Inukonda(Director)Edgars Peics(Executive Officer)Artis Grizans(Executive Officer)
Community marketplace where users buy and sell time with verified experts to share knowledge on any topic.
Robotic spray printing solution for out-of-home advertising that creates large-scale artistic commercial murals.
Monetizr operates an advertising and data platform that connects brands with mobile gamers through in-game rewarded experiences, using opt-in player data for targeting without relying on IDFA.
AdTechData & InfrastructureGamingMarketing TechSan Francisco, US
Andris Merkulovs(Founder and CEO)Martins Bratuskins(Founder and COO)
Veriff provides identity verification services for online platforms, using document recognition and multi-language support to verify that users are who they claim to be.
AI & Machine LearningCybersecurityDeveloper ToolsEnterprise SoftwareFintechSaaSTallinn, EE
Kaarel Kotkas(Founder/CEO)inTaavet Hinrikus(Director)
BoardSimon Levene(Director)
Wysa for Teams is a mental health SaaS product that delivers emotional wellbeing support to organizations with 200 employees or less through self-guided exercises, anonymous access to reflection spaces, and resources based on cognitive behavioral approaches.
AI & Machine LearningDigital HealthHealthtechMental HealthSaaSWellness & Fitness
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Frequently asked questions
- What stage does Change Ventures invest at?
- Change Ventures invests at the Pre-Seed, Seed stages.
- What is Change Ventures's typical check size?
- Change Ventures typically writes checks of $108K – $540K.
- What sectors does Change Ventures focus on?
- Change Ventures focuses on Sector Agnostic.
- Where is Change Ventures located?
- Change Ventures is headquartered in Tallinn, EE.
- Does Change Ventures lead rounds?
- Yes, Change Ventures leads investment rounds.
Media · Podcasts & interviews
featuring the teamGetting Your Startup Ready for VC. Andris K. Berzins, Change Ventures | Startup Fair. Growth 2018
StartupLithuania · Andris K. Berzins
Images
Co-investors · 15
A venture capital fund that partners with founders during early stages to identify and address go-to-market challenges before they threaten company viability.
Dreamers VC is an early-stage venture firm that leverages a global network to connect founders with companies and provide support in high-growth markets.
AlleyCorp is a firm of technologists, investors, and entrepreneurs that both builds and invests in transformative companies.
Hyde Park Venture Partners (HPVP) is an early-stage venture fund investing in AI, software, and tech-enabled services companies connected to the Midwest, Toronto, or the Southeast.
Two Small Fish is an early-stage deep tech venture firm investing in the next frontier of computing and its applications, backing founders from an early stage.
Future Positive Capital is an investment firm backing entrepreneurs building companies that address major global challenges and shape more sustainable, preferable futures.
Karma Ventures is a European venture capital firm that backs deep-tech software startups at late seed and Series A stages, contributing capital and operational experience to founders with early traction and global ambition.
FJ Labs is a venture capital firm specializing in marketplaces and network-effect businesses, having built a large portfolio of marketplace startups with over 30 becoming unicorns.
7percent Ventures is a deeptech-focused venture firm that has backed over 160 companies over the past decade, supporting diverse, sustainable and inclusive startups building transformative and frontier technologies.
L Catterton Growth is the growth investing arm of L Catterton, a consumer-focused private equity group that has made over 300 investments in consumer brands since 1989. The firm manages roughly $40 billion and backs middle-market companies and emerging high-growth consumer businesses; this unit is listed with a London office.
Mangrove Capital Partners is a venture capital firm investing in early-stage technology companies, having been an early backer of eight unicorns including Skype, Wix, Flo Health and WalkMe.
Icebreaker is an early-stage venture capital firm that has backed over 100 teams from the idea stage to seed and beyond since 2017, investing in the Nordic and Baltic region.
▶3 more co-investors
Firms observed investing alongside Change Ventures, from public investor directories. Shared companies are the overlap with Change Ventures's recorded portfolio.
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