/Investor DB

Fstage VC

Angel network

Tallinn · Pre-Seed–Seed · 38 people tracked

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Investment thesis

The firm targets early-stage founders with proven capability and market validation rather than pure potential. Startups in the program demonstrate a working MVP, assembled core team, and some early revenue. Investment decisions are based on tangible deliverables and founder execution rather than promises. The firm emphasizes ethical practices and ESG impact as non-negotiable criteria. While sector-agnostic, it favors B2B SaaS businesses and avoids slow-growth, capital-intensive sectors such as medical and pharmaceutical. The syndicate model allows experienced professionals to monetize mentorship while small-ticket investors gain exposure to curated deal flow.

Source: firm website, verified Sep 27, 2026.

Stage
Pre-Seed–Seed
Check
$54K – $108K
HQ
Tallinn, EE
Leads rounds
Follows
Instruments
Equity
Founded
2022
Tracked investments
2

Team · 38 people

from the firm's website & public directories
Aldar Reinberk· Investor/Mentor

Ethics committee member who helps companies use digital technologies to reach growth objectives.

Eva-Maria Egipt-Peenmaa· Investor/Mentor

Investor/mentor and experienced expert in tourism.

Jon Ender· Investor/Mentor

Investor/mentor who helps leaders build emotionally healthy, high-performing teams.

Kristiina Parve· Assistantin

Assistant serving as event organizer, project manager and support.

Madis Avi· Investor/Mentor

Investor/mentor focused on driving firm growth and profitability.

Siim Salme· Investor/Mentor

Investor/mentor and sales expert focused on B2B marketing, B2B sales and export.

Tiit Liivik· Investor/Mentor

Investor/mentor and expert in the information technology and services industry.

Vitali Korniltsev· Investor/Mentor

Investor/mentor and experienced leader in the information technology and services industry.

What they invest in

from 2 of 2 portfolio companies

SaaS ×2Advanced Manufacturing ×1Logistics & Supply Chain ×1PropTech ×1

HQs:Estonia×1

Investments · 2 tracked

founders shown can be your intro path
Forknavforknav.eu

forkNAV provides software that organizes and optimizes forklift operations in warehouses, tracking work orders and items without RFID tags to reduce time spent locating items.

Advanced ManufacturingLogistics & Supply ChainSaaS

Ken Marten Mällo(Founder)in

PartnerMikk Orglaan· solo GP

Runpropertyrunproperty.comin

RunProperty is a PropTech startup that develops digital technologies for real estate sales professionals, primarily serving the European market.

PropTechSaaSTallinn, EE

Kristen Kannik(Founder)in

PartnerMikk Orglaan· solo GP

Frequently asked questions

What stage does Fstage VC invest at?
Fstage VC invests at the Pre-Seed, Seed stages.
What is Fstage VC's typical check size?
Fstage VC typically writes checks of $54K – $108K.
What sectors does Fstage VC focus on?
Fstage VC focuses on Enterprise Software, SaaS, Sector Agnostic.
Where is Fstage VC located?
Fstage VC is headquartered in Tallinn, EE.
Does Fstage VC lead rounds?
Fstage VC typically participates in rounds rather than leading them.

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