CIVITTA Estonia is organizing investment readiness training for Estonian Business Angels Network and Finnish Business Angels Network in the New Nordic Leads program for with the aim to prepare startups for raising funds from angel investors. The program is intended for startups from Estonia, Finland and the region. In addition to training, the startups are mentored by angel investors from both EstBAN and FiBAN.

The program is part of the New Nordic Leads initiative that aims to facilitate cross-border investments by educating lead angels to evaluate startups and to manage international syndicates and startups to be prepared to onboard invesments. The whole New Nordic Leads is organized by the Estonian Business Angels Network (EstBAN) and Finnish Business Angels Network (FiBAN). 

In the investment readiness training, startups will have four online training and mentoring sessions from top-notch investors from EstBAN and FiBAN. This program is designed very hands on and practical, so the the startups have to implement the learning lessons to their companie between the sessions on their own to create growth. 


The program started in December with 32 startups from Estonia, Finland, Latvia, Lithuania and Sweden and lasted for two months. The first training was conducted by Riivo Anton, a long-time key mentor and founding partner at United Angel VC and partner at Civitta Estonia  on the topic “Understanding the investment process”. 

The following three trainings covered other important stages in the startup development: startup financials by Heidi Kakko from BaltCap, company valuation and cap table by Will Cardwell from Courage Ventures Funds, due diligence process by Riivo Anton from Civitta, team management by Riina Einberg from Veriff, legal documentation by Nea Welling from Fondia and practice pitch to investors for feedback and judging. 


20 teams from the group got to present to a wider range of investors at the regular pitch event with EstBAN and FiBAN.

In the next two years, 136 startups from the region will get a chance to go through the program, learn from experts and work closely with experienced angel investors. 


Application are open for the second group -

What kind of startups should apply to the program?

  • Raised or planning to raise investment

  • Committed team

  • Available traction and some revenue

  • High growth potential

Do you want to know why you should apply to the program? Read the thoughts from investors participating in the program here - 

The program is supported by Interreg Europe. 

More info:

Karin Künnapas


Project manager

[email protected]