End of an Era: Sille Pettai To Leave SmartCap After 10 Years

SmartCap said it will begin searching for a new CEO to replace Sille Pettai, who steps down at the end of June, wrapping her 10-year stint at the state venture firm. She started as a fund manager and a member of the management team, and since June 2024, her title has been CEO.

“Under Sille Pettai’s leadership, SmartCap has played a very important role in shaping Estonia’s capital market,” Priit Põldoja, chairman of SmartCap’s supervisory board, said in a statement. “I thank Sille for her dedication and the work she has done. SmartCap is now larger and stronger than ever before and has become a respected investor across Europe.”

SmartCap currently manages three funds — the SmartCap Venture Capital Fund, the SmartCap Green Fund, and the SmartCap Defence Fund — with total assets approaching €500 million. Together, the funds have provided financing to 13 funds and nearly 20 companies.

Pettai said her priority now is to ensure a smooth leadership transition.

“Today, SmartCap is well-positioned in Estonia and internationally in the venture capital landscape and is one of the largest multi-strategy fund managers in the local market by assets. I feel that now is the right time to step down and pass the baton,” Pettai said.

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