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Karma Ventures

Narva mnt 7b, Tallinn, Harju maakond, 10117, Estonia

Overview

Early-stage venture capital firm investing in deep tech startups.

Founded

2016

Deals · 12mo

3

Links

WebsiteLinkedInX (Twitter)

Stage focus

Series A
Series B

Geographic focus

Estonia
Finland
Poland
Romania
...

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

41rounds
NAMEDATESIZE
Mindgard
Aug 2026Participated
$30 MSeries A
Leil
Nov 2025Led
$2 MSeed
Starship Technologies
Oct 2025Participated
$50 MSeries C
DRUID
Sep 2025Participated
$31 MSeries C
Swarmia
Jun 2025Led
$12 MSeries A
WunderGraph
Mar 2025Participated
$8 MSeries A
Patchstack
Sep 2024Led
$5 MSeries A
Pactum
Jul 2024Led
$20 MSeries B
BforeAI
Apr 2024Participated
$15 MSeries A
Hydrogrid
Dec 2023Led
$9 MSeries A
DRUID
Sep 2023Participated
$30 MSeries B
Commsignia
Sep 2023Participated
$15 MSeries B
Mindgard
Aug 2026Participated
$30 MSeries A
Leil
Nov 2025Led
$2 MSeed
Starship Technologies
Oct 2025Participated
$50 MSeries C
DRUID
Sep 2025Participated
$31 MSeries C
Swarmia
Jun 2025Led
$12 MSeries A
WunderGraph
Mar 2025Participated
$8 MSeries A
Patchstack
Sep 2024Led
$5 MSeries A
Pactum
Jul 2024Led
$20 MSeries B
BforeAI
Apr 2024Participated
$15 MSeries A
Hydrogrid
Dec 2023Led
$9 MSeries A
DRUID
Sep 2023Participated
$30 MSeries B
Commsignia
Sep 2023Participated
$15 MSeries B
41
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Karma Ventures: 41 funding rounds are recorded in the selected participation categories.All available history.
Karma Ventures: 41 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed31
Series A67
Series B16
Series C+03
Other Equity68

Monthly Deal Activity

Karma Ventures: 41 deals are recorded across 114 months.All available history.
Karma Ventures: 41 deals are recorded across 114 months. All available history
MonthDeals
May '171
Jun '170
Jul '170
Aug '170
Sep '170
Oct '171
Nov '171
Dec '171
Jan '180
Feb '180
Mar '180
Apr '180
May '181
Jun '180
Jul '181
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '191
Jun '192
Jul '192
Aug '191
Sep '190
Oct '190
Nov '190
Dec '191
Jan '200
Feb '200
Mar '200
Apr '201
May '200
Jun '200
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '201
Jan '210
Feb '211
Mar '210
Apr '210
May '210
Jun '211
Jul '211
Aug '210
Sep '211
Oct '210
Nov '210
Dec '210
Jan '222
Feb '221
Mar '221
Apr '220
May '221
Jun '220
Jul '222
Aug '220
Sep '221
Oct '220
Nov '221
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '232
Oct '230
Nov '230
Dec '231
Jan '240
Feb '240
Mar '240
Apr '241
May '240
Jun '240
Jul '241
Aug '240
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '251
Apr '250
May '250
Jun '251
Jul '250
Aug '250
Sep '251
Oct '251
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

Karma Ventures: Enterprise Software is the largest displayed sector by deal count (20 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Karma Ventures: Enterprise Software is the largest displayed sector by deal count (20 deals). All available history
SectorDeals
Enterprise Software20
AI & Machine Learning15
Cybersecurity & Privacy9
Professional Services9
Networks, Cloud & Communication8
Fintech8
Real Estate & Construction4
Transportation & Logistics4
Manufacturing4
Health & Life Sciences3
Developer Tools3
E-Commerce & Retail2
AR/VR2
Data, Analytics & IT2
Hardware & Robotics2
Marketing & Advertising2
Media & Entertainment2
Travel & Hospitality1
Education & Workforce1
Clean Energy & Sustainability1

Deal Size Distribution

Karma Ventures: 41 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Karma Ventures: 41 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M11
$5M-$10M10
$10M-$25M14
$25M-$50M4
$50M-$100M1
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Karma Ventures: Europe has the largest recorded deal count among the displayed regions (32 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Karma Ventures: Europe has the largest recorded deal count among the displayed regions (32 deals). All available history
RegionDeals
Europe32
United States7
100192
Karma Ventures: 20 co-investors are shown, with Hoxton Ventures sharing 3 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Karma Ventures: 20 co-investors are shown, with Hoxton Ventures sharing 3 recorded deals. All available history
Co-investorShared deals
Hoxton Ventures3
Inovo Venture Partners3
Inventure3
SOSV3
Addendum Capital2
Almaz Capital2
BlackFin Capital Partners2
Change Ventures2
Credo Ventures2
Day One Capital2
Dreamit Ventures2
European Bank for Reconstruction and Development2
GapMinder2
Heal Capital2
Hummingbird Ventures2
Karista2
KPN Ventures2
Molten Ventures2
Nordic Makers2
Partech2

Investment Strategy

Karma Ventures: Led accounts for 39% and participating for 61% of round participation.All available history.
Karma Ventures: Led accounts for 39% and participating for 61% of round participation. All available history
CategoryDeals (count)Share (%)
Led1639%
Participating2561%
Karma Ventures: Single-lead accounts for 44% and co-led for 56% of lead dynamics.All available history.
Karma Ventures: Single-lead accounts for 44% and co-led for 56% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead744%
Co-led956%

Team

Arthen Sirola-Hashemi

Investment Manager

Kristjan Laanemaa

Founding Partner

Linda Võeras

Investment Manager

Margus Uudam

Founding Partner

Marianne Kikas

Office Manager

Riin Vahk

Finance Manager

Tommi Uhari

Founder and Partner