EstVCA Singapore Roadshow Recap: Building Bridges Between the New Nordics and Asia
At the end of October, the EstVCA delegation of fund managers visited Singapore with a clear objective: to build long-term bridges between Asian capital and the fast-growing New Nordic venture landscape. Over several days, the delegation participated in high-level meetings, roundtables, and networking events that brought the two ecosystems meaningfully closer. Our delegation consisted of Rando Rannus (Siena Secondary Fund), Dag Ainsoo (Startup Wise Guys), Hendrik Reimand (2C Ventures), Andrus Oks (Tera Ventures), Erki Mölder (Verge HealthTech Fund), Margus Uudam (Karma Ventures), and Mart Maasik (Nordic Science Investments).
- A Strategic First Step Toward Deeper Collaboration
Across the week, the delegation engaged with a broad network of asset managers, venture investors, and industry leaders. The Singapore Week of Innovation and Technology (SWITCH) and the Latitude59 Singapore Satellite event provided an ideal platform to showcase the strengths of the Estonian and New Nordic venture ecosystem, from the quality of innovation and governance to the region’s proven track record of fund performance.
- Shared Values: Small, Agile, Innovation-Driven
This alignment was echoed throughout the week, particularly during the Latitude59 Singapore satellite event, where discussions highlighted how the small size of both regions naturally fuels innovation and encourages collaboration. Speakers underlined that this shared mindset is exactly what connects Singapore and the New Nordics, creating fertile ground for joint initiatives. There was also a strong emphasis on approaching cooperation with an open mind, setting aside preconceived notions and treating this emerging relationship as a blank page on which to build a new story between Asia and the New Nordics.
Margus Uudam, Founding Partner of Karma Ventures, shared that over the last 10 years, European funds have produced higher returns than US funds: “This has been achieved with reasonable funding, right talent, and a humble approach. It makes sense to pay attention to where value is created, not just where capital is abundant.”
The EstVCA delegation also welcomed the opportunity to introduce the region’s venture funds and their investment strategies, highlighting how New Nordic fund managers consistently deliver strong results with disciplined capital, deep technical talent, and globally scalable innovation.
- Momentum That Will Continue
This was only possible thanks to the phenomenal support from the Estonian Embassy in Singapore and the Ministry of Foreign Affairs. Their involvement from early preparations to a strong presence during key meetings had a defining impact. It ensured that the delegation could engage with the right partners at the right level.
Kristel Alver, Chief Economic Advisor at the Embassy of the Republic of Estonia in Singapore, emphasized that this visit reflected not only strategic cooperation but also the shared ambition to deepen ties between the two ecosystems. She added: “Singapore and Estonia may sit on opposite sides of the world, but our VC ecosystems speak the same language — speed, trust, and a relentless focus on innovation. For us, the visit underscored how naturally our strengths align: Estonia’s deep-tech and digital expertise fits seamlessly with Singapore’s role as Asia’s most sophisticated capital hub. This is precisely why Estonia belongs on the trajectory of Singaporean investors. There is real appetite here for the New Nordics, and equally, a clear pathway for long-term, high-quality partnerships. The opportunity is not theoretical; it’s already here. Now our task is to build on it.”
We extend our sincere gratitude to all partners, hosts, speakers, and supporters who contributed to this successful roadshow: ST Engineering, August One, Cross Capital, Plug and Play, Maitri Asset Management, TiE Singapore, SGInnovate, Nordic Singapore Innovation Days, Swedish Energy Agency, Embassy of Sweden in Singapore, Latitude59, Estonian Embassy in Singapore, Ministry of Foreign Affairs of Estonia.
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