Two of Estonia’s leading investment funds have turned their attention to the Valencian startup ecosystem. Specifically, Karma Ventures and Practica Capital, which together manage a portfolio of over 500 million euros for startup investments, have held meetings with the region’s most prominent tech companies. The aim of these meetings has been to explore investment opportunities within Valencia’s innovative and technological ecosystem, as well as to introduce the Estonian market to Valencian startups.
This initiative took place during an event organized by Startup Valencia and e-Residency to promote the international scaling of Valencian tech companies through this pioneering program supported by the Estonian government. e-Residency provides citizens of any country with a digital identity card and signature, enabling them to establish and manage an Estonian company entirely online, with high security standards and minimal bureaucracy and costs. This tool facilitates the internationalization and establishment of foreign-founded startups in Estonia.
The event featured the participation of Paula Llobet, Valencia’s Councilor for Tourism, Innovation, and Investment Attraction, who explained, “We are working intensively to consolidate Valencia as the Mediterranean’s leading technological and innovative hub. We are already seeing results, such as the interest we have sparked among these investment funds and the Estonian government. Our goal is to attract investments and companies to our city to generate wealth and quality employment,” she concluded.
During the event, Guillermo Chávez, responsible for the Spanish, Latin American, and French markets at e-Residency, highlighted the advantages of Estonia’s innovative ecosystem for startups, emphasizing Estonia as a technological epicenter that empowers entrepreneurs without borders. “Startups created by e-residents enjoy the same advantages as those established by Estonian citizens, including significant availability of venture capital funding. Estonia is a magnet for startups and boasts the highest number of unicorns per capita in Europe,” Chávez affirmed.
Additionally, Linda Võeras, Early Stage Deep Tech Investor at Karma Ventures, and Helery Pops, investor at Practica Capital, discussed the opportunities Estonia’s innovative and technological ecosystem offers to Valencian startups.
Nacho Mas, CEO of Startup Valencia, noted that the global positioning of Valencia’s innovative and technological ecosystem as a leading hub in Southern Europe attracts international investment and the interest of prominent funds towards Valencian startups. “In the case of Estonia, we are also fostering bidirectional interest, creating a ripple effect for the main Estonian investment funds, which are now focused on our region, and providing Valencian startups with new opportunities to scale and expand internationally,” he pointed out.
The event also saw the participation of José Vicente Morata, President of the Valencia Chamber of Commerce and Honorary Consul of Estonia; Liina Vahtras, Managing Director of e-Residency; Ángela Castelló, CRO at Startup Valencia; and Krloos Rivera, Director of Governmental Affairs, Global Growth, Investment, and Ecosystems at Startup Valencia.
Agreement Signing
This event served to formalize the alliance between Startup Valencia and e-Residency. Both entities have signed a collaboration agreement aimed at exchanging knowledge and facilitating joint initiatives that promote innovation, business development, and technological advancement.
As part of this agreement, six Estonian startups will participate in VDS, the international tech event organized by Startup Valencia, which turns the city into a global innovation epicenter and will hold its seventh edition on October 23-24 at the City of Arts and Sciences in Valencia. Additionally, the e-Residency program will be introduced to professionals attending the event, and the participation of founders from Estonia’s leading unicorns will be promoted.
Furthermore, a business mission from Startup Valencia to Tallinn is planned to gain first-hand insight into the country’s cities and entrepreneurial and technological ecosystem. During the mission, meetings will be organized with key players in Estonia’s innovative ecosystem.
