Lemonade Stand

Lemonade Stand is a Tallinn, Estonia-based venture capital firm established in 2011, primarily focusing on early-stage startups across the Baltics and Eastern Europe. Founded by a team with strong entrepreneurial backgrounds, including co-founders of successful tech companies like Pipedrive, the firm leverages its operational experience to support promising founders in the region. Their investment thesis centers on identifying and nurturing companies with global ambitions from these emerging markets, aiming to be the first institutional money into promising ventures.

Lemonade Stand typically engages with companies at the pre-seed and seed stages, providing crucial early capital and strategic guidance. They are known for their hands-on approach, often acting as a key partner in a startup's formative years. For their initial investments, the firm generally writes checks ranging from approximately $108,000 (€100,000) to $540,000 (€500,000). This strategic range allows them to support a diverse set of early-stage ventures, helping them achieve critical milestones before attracting larger Series A rounds.

Lemonade Stand has successfully raised multiple funds, with their second fund, Lemonade Stand II, targeting €15 million to continue their investment strategy. Over the years, the firm has built a robust portfolio of high-growth companies, many of which have gone on to achieve significant success and attract further funding from international investors. Their portfolio includes early investments in regional success stories like Bolt (formerly Taxify), Veriff, and Glia, showcasing their ability to spot future market leaders and contribute significantly to the vibrant startup ecosystem in the Baltics and Eastern Europe.

Their deep roots in the regional tech scene, combined with the operational expertise of their partners, provide a distinct advantage for portfolio companies. Lemonade Stand offers more than just capital, providing mentorship, access to extensive networks, and practical advice on scaling businesses. This founder-friendly approach has cemented their reputation as a key early-stage investor in the region, actively contributing to the development and internationalization of Baltic and East European tech talent.