You may find your invitation to the meeting in your mailbox or contact info@estban.ee.

Location: Erinevate Tubade Klubi, Tallinn
Time: Tuesday, 31 March 17:00-20:00

AGM Agenda

17:00 Gathering and registration of attendees;
17:15 Opening words by Lauri Antalainen, EstBAN President;
17:20-17:40 Keynote by Swedbank Chief Economist Tõnu Mertsina on “Current situation of the Estonian economy, general overview of 2025 and prospects for 2026, economic risks and impact of the US market on the EU”;
17:40-19:00 AGM presented by Jana Saastamoinen, Managing Director of EstBAN:

• ​​Appointing the agenda of AGM;
• ​​Selecting Chair and Secretary of the meeting;
• Approval of 2025 Annual Fiscal report;
• ​​Election of the Management Board members for 2026;
• Presentation of 2026 action plan;
• ​​Approval of the Budget for 2026;
• Overview of 2025 investment statistics;
• Awarding Ceremony for EstBAN Outstanding members;

​​​19:00-20:00 Networking

Find the event also on EstBAN Calendar: https://estban.ee/calendar/

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​The training will cover key investment documents, highlight common regional differences, and share practical insights relevant to cross-border investing. The goal is to support informed discussion and more confident decision-making when investing in the region.

​The session consists of a 45-minute presentation followed by a 15-minute Q&A.

Sign up via Luma link: https://luma.com/urn5l9cv

EstBAN x Triniti Law Seminar is supported by Finest Scaleup project funded by EU.

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What Accelerate Estonia offers?

• Test and validate the effectiveness of your innovative but rule-breaking solution by piloting under real world conditions.
• Turn that data into action and collaborate with policymakers to update regulations so your solution can reach the market.
•  Prove your solution locally, then scale internationally. Leverage Estonia as a launchpad to scale both your idea and the new regulatory solution all over the world.

Know a company stuck in regulatory limbo? Maybe you run one yourself?

• Apply by 31st of November here.
• Read more about our partnership with Accelerate Estonia.

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Juba teist korda sel aastal korraldab EstBAN koostöös Hedman advokaadibüroo ja SEB Eestiga naisinvestoritele mõeldud arenguprogrammi eesmärgiga õpetada naistele iduettevõtetesse investeerimise põhimõtteid ja tuua neid lähemale kõrge riskiga investeeringute maailmale. Esimene lend tulevasi äriingleid lõpetas programmi kevadel 2025 ning suure huvi tõttu algab uus koolitustesari 4. novembril. Kokku tullakse neljal tööpäeva õhtul ja programm lõpeb just naisinvestoritele suunatud võrgustumissündmusega.

Mis kasu programmist oodata?

• Tõhusad töötoad startup-valkdonna asjatundjatelt ja investoritelt. Praktilisi kogemusi jagavad Heidi Kakko, Kadi-Ingrid Lilles, Triin Hertmann ja Kati Pino;
  
• Arusaama, kuidas hinnata iduettevõtete potentsiaali ja millal on õige hetk investeerida;
  
• Võimaluse arendada oma investeerimisstrateegiat ja ehitada tasakaalustatud portfelli;
  
• Tutvuda teiste inspireerivate naisinvestoritega ja saad osaks EstBANi kogukonnast;
  
• Eksklusiivse kutse EstBANi pitch-sündmusele (13. nov) ja võimaluse osaleda sTARTUp Day 2026 sündikaatinvesteeringus 

Olulised kuupäevad ja teemad:

SEB Innovatsioonikeskus, Tallinn
Kell 16.30–19.00

• 04.11 Kuidas alustada investeerimist idufirmadesse? (Heidi Kakko)
  
• 11.11 Ingelinvesteeringute ja startup-maailma ABC (Kadi-Ingrid Lilles)
  
• 18.11 Kuidas analüüsida idufirmasid ja luua portfell? (Triin Hertmann)
  
• 02.12 Juriidilised põhialused + programmi lõpupidu (Kati Pino) 

Kandideerimise tähtaeg on 27. oktoober 2025 ja kohti on 30 tulevasele äriinglile. Osalejad valime välja investeerimishuvi, kogemuse ja valmisoleku põhjal. Koolitusprogramm on tasuta, kuid eeldab eelregistreerimist. Toeta oma arengut investorina, loo uusi kontakte ja saa osa Eesti äriinglite kogukonnast.

Küsimuste korral kirjuta meile: info@estban.ee

• Kandideerimislink
• Loe lähemalt

Kandideeri ja näeme 4. novembril! 

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Hosting the EBAN Congress Tallinn 2024

A highlight of the year was EstBAN’s successful hosting of the EBAN Annual Congress from May 20-22 in Tallinn. The event attracted 600 international investors, founders, and startup enthusiasts from approximately 50 countries. Over three days, attendees engaged with around 70 speakers, including prominent figures such as former Estonian President Kersti Kaljulaid, cybersecurity expert Rainer Saks, and Bolt co-founder Martin Villig, not to mention all the international speakers like Staffan Helgesson, Mikko Silventola, Ivo Ronner, Nora Bavey, Risto Siilasmaa and many others. 

Recognition and Awards

During the EBAN Congress, EstBAN was honored with the “Best Performing Business Angel Network of the Year” award, acknowledging its exceptional contributions to fostering a robust startup ecosystem in Estonia. Additionally, EstBAN member Heidi Kakko received the “Premier Woman Angel” award for her efforts in promoting diversity within the investment community.

In autumn, during the European Angel Investor Summit 2024, EstBAN founder Ivar Siimar got another award: The EBAN Ecosystem Gamechanger Award. So we can be proud to have a strong investor community that’s also being internationally recognized.

In the beginning of summer we welcomed Karin Künnapas as EstBAN’s new Managing Director. Fun fact is that Karin has already worked in EstBAN some years ago (2014-2017).

Strategic Programs and year full of study trips

EstBAN carried on several initiatives aimed to enhance the capabilities of angel investors and supporting startups:

• 4NGELS Program and Study trips: this program included investor and startup trainings, a cross-border syndicate and study trips to Slovenia and Poland.
• Connect2Scale New Angels Academy: in spring we had four online+on-site training sessions for novice angels just starting out their investor journey.
• Connect2Scale Mature Angels Academy: launched in September, this academy offered seasoned investors advanced training to refine their investment strategies and stay abreast of market trends.
• Connect2Scale Study Trips: exploratory trips to innovation hubs like Sweden’s “Silicon Valley“, Vilnius and Helsinki.
• Hamburg study trip into the blooming startup ecosystem and city of tech giants in Germany.

Community Engagement and Expansion

EstBAN continued to strengthen its community through various events and collaborations:

• Investor Talks: regular sessions featured experienced investors sharing their journeys and insights in order to get to know our angels better. 
• New Partnerships: the Estonian Cleantech Association joined EstBAN as an associated member, and we also welcomed Beamline Accelerator as a new-old partner. 
• Tartu Investor Club: three Tartu events were organized to engage investors in this youthful regional hub. More of this in 2025!

Looking Ahead

Building on the momentum of 2024, EstBAN is poised to continue its mission of supporting early-stage investments and fostering innovation. The network’s efforts have not only elevated Estonia’s startup ecosystem but have also contributed to the broader European investment landscape – we have our place in it.

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Picture this: you’ve got a billion-dollar idea – a real game-changer. But when it comes to securing funding, you’re stuck. The truth is, an idea without execution isn’t worth a dime. I’ve evaluated over 1,500 pitch decks, invested in 30 (impact) startups, and mentored or advised more than 100 others. I’ve seen startups soar after their first pitch and others crash and burn before the Q&A even begins. Investor readiness is what separates the two.

According to the Sifted Survey 2024, 85% of startup founders reported experiencing high stress over the past year, with fundraising cited as their biggest challenge.

I’ve been there myself – walking into pitch meetings thinking I had it all figured out, only to realize I’d brought a knife to a gunfight. Trust me, there’s no worse feeling than realizing the only person impressed with your pitch is you.

Here’s what I’ve learned since 2015, sitting on both sides of the table: getting an investor’s attention isn’t about dazzling them with buzzwords or a glossy deck. Those days are over. It’s about showing them you’re the kind of founder who’s thought through the details, done the work, and can execute like a pro. Investors can spot a lack of preparation from a mile away – it’s their job, and they’re damn good at it. If they do? Well, let’s just say there’s a reason “ghosting” is a common term in the startup world.

In this post, I’ll outline why investor readiness is non-negotiable and exactly what you must do to get there. I’ll walk you through the key elements of preparation, share the most common mistakes (including one I’ll never forget), and give you a checklist to ensure you’re ready to impress. Follow this roadmap, and you’ll improve your chances of success by 10x.

Thank me later—or better yet, thank yourself for doing the work. Let’s dive in.

Investor Readiness: The Difference Between Getting Funded and Getting Ghosted

I’ve lost count of how many startups I’ve seen pitching their hearts out – ˇonly to hear a polite, “We’ll get back to you” (they won’t) or, worse, radio silence. Why does this happen? Because they weren’t ready. They didn’t have the numbers, the strategy, or the operational chops to back up their big dreams.

Here’s a little secret: most investors are on autopilot during those early-stage meetings. They’re scanning for red flags, mentally ticking off boxes, and deciding within minutes whether you’re worth a second look. If you can’t nail those basic hygiene factors? You’re out.

No unicorn dreams. No pot of gold at the end of the investor rainbow. Just wasted time, money, and frustration.

The ROI of Investor Readiness: Seven Benefits You Can’t Ignore—and Risks You Can’t Afford

1. Increased Likelihood of Securing Funding

Benefit:
A well-prepared founder exudes confidence and professionalism, making investors more likely to trust and invest in their business. Being able to clearly articulate your vision, demonstrate traction, and provide key metrics gives you a competitive edge.

Risk of Not Being Prepared:
You risk losing investor trust and potentially missing out on funding opportunities. Unpreparedness makes you appear unserious or disorganised, driving investors toward startups that seem more buttoned-up.

2. Faster Fundraising Process

Benefit:
Preparing all your documents, financials, and pitch materials ensures a smoother, quicker fundraising journey. This minimises back-and-forth communication and accelerates the momentum and timeline to securing investment.

Risk of Not Being Prepared:
Prolonged fundraising delays can cause you to miss critical growth windows or run out of money. Worse, if investors perceive the delays as a sign of disorganisation, they might lose interest.

3. Enhanced Credibility with Investors

Benefit:
Preparation signals professionalism and competence, earning credibility and fostering stronger investor relationships. This credibility can pay off not just in the current round but also in future fundraising efforts.

Risk of Not Being Prepared:
A lack of preparation risks damaging your reputation in the investor community. A poor impression with one investor can spread, making it harder to secure meetings with others.

4. Clearer Vision and Strategy

Benefit:
Becoming investor-ready forces you to refine your business plan, clarify your goals, and align your team around a well-articulated growth strategy.

Risk of Not Being Prepared:
You risk appearing unfocused or directionless, making investors doubt your ability to execute. A lack of strategic clarity can also lead to costly missteps in business operations.

5. Strengthened Business Foundations

Benefit:
Investor readiness requires you to review and refine critical areas of your business—operations, finances, governance—building a solid foundation for growth and scalability.

Risk of Not Being Prepared:
Neglecting these areas can result in inefficiencies, missed opportunities, or operational breakdowns. Investors conducting due diligence may (and probably will) uncover these weaknesses and walk away.

6. Attracting Right Investors

Benefit:
A well-prepared founder is better positioned to identify and appeal to investors whose goals, values, and expertise align with their startup’s mission—especially critical in impact-driven sectors like climate or sustainability.

Risk of Not Being Prepared:
You risk wasting time pitching to the wrong investors who don’t see the value in your mission or business model. Mismatched investor-founder dynamics can lead to friction post-funding.

7. Increased Team Confidence and Morale

Benefit:
When you’re prepared and articulate a clear vision, your team gains confidence in your leadership and the company’s direction. This alignment boosts morale, focus, and productivity.

Risk of Not Being Prepared:
A lack of investor readiness can sow doubt within your team. They may question the company’s direction or feel unprepared to execute, which could lead to disengagement or turnover.

…

To read further, please go to EstBAN member and long time entrepreneur Kristjan Raude’s blog.

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The conversation rolled around what’s going on in an angel investor mind, how they tend to choose investments, what’s important to look and how do you become an angel investor in the first place. If you want to know where to start, how many companies you should have in your portfolio, how to diversify investments and what’s the typical starting range for angel investments. The list of topics is long – it’s great listening, go for it!

The podcast is in Estonian.

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As EstBAN is working close by Lithuanian angels virtually, it was time to make this happen in reality.  So prior to Startup Fair and Investor Camp in Vilnius, we put together a little Networking Night which turned out to be more popular than we could have ever anticipated. There was a massive turnout at the rooftop cafe in central Vilnius with new connections to be made in a relaxed atmosphere. The angel investors from EstBAN and LitBAN took the night off to mingle, get to know each other and joke around before hitting the Investor Camp the next day. 

Hopefully even more deals get across the borders as a result of the trust and connections built and the networks can benefit from the international synergy and expertise from both Estonian and Lithuanian angels. 

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This time with KPMG we’ll unravel the topic of funding a fund in Estonia. The doors are open for everyone to join, but sign up is required. 

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The eleventh Latitude59, attended by 3,000 people, was themed “Be Bold”. Almost 400 startups from 61 countries applied for Latitude59’s traditional pitch competition. Both early-stage and more mature technology companies were invited to the competition.

According to Martin Goroško, Lead Investor of EstBAN, the ideas of entrepreneurs at different stages were equally good. “Since this time we put the investment together with a VC fund, we consciously chose companies to top 10 with both, already strong turnover as well as early stage companies, because the goal was to identify especially forward-looking solutions in times of challenges. That’s how the three startups were selected, two of which are already strong in the market and one who is about to enter,” explained Goroško.

According to Tera Ventures partner Andrus Oks, this year’s competition is characterized by the strong level and ambition of the candidates. “Latitude59 is a mature technology conference, this is clearly shown by the profile of those who applied for the pitching contest – there were plenty of startups that have already proven themselves on the market. So the choice was not an easy one,” said Oks. In the startup world, it is not very common for business angels and VCs to launch a joint syndicate. “This is indeed a special case. It´s also exceptional that EstBAN and Tera VC increased the amount of investment in the process – the initial planned 1 million became 1.25 million. So, in addition to the largest number of applicants so far and the representation of countries, this year’s competition has been special for us in many ways,” recognized Triin Ilves, Head of Startup Relations at Latitude59.

Latitude59 was sold out again this year. There were 3,000 ticket holders, including more than 800 start-up representatives, and 600 investors. With over 120 speakers and more than 80 journalists attending, it makes Latitude59 Estonia’s most international tech and startup event. 

Tickets for the next Latitude59, which will take place on May 22-24 in Tallinn, are available latitude59.ee.

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