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Search›Companies›CVF Fund Manager OÜ
14623897ActivePrivate limited companyEE102201749 · VAT-registered

CVF Fund Manager OÜ

Harju maakond, Tallinn, Lasnamäe linnaosa, Valukoja tn 8/2·EMTAK 66301 — Fund management activities·7+ years
Andmed · ···
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Overview

e-Business Register · 21 h ago
Registry code
e-Business Register
Legal form
Private limited company
Registered
11.12.2018e-Business Register
Address
Valukoja tn 8/2, Lasnamäe linnaosa, Tallinn, 11415 Harju maakondADS · e-Business Register
E-mail address
rait@changeventures.come-Business Register
Telephone
+372 5188255· Telia Eesti ASe-Business Register · TTJA NBA
Principal activity
EMTAK 66301 - Fund management activitiese-Business Register · ETCB
VAT number
ETCB · VAT-registered
Share capital
25 000,00 €e-Business Register
Estonia's public business register
HomeViewsIndustriesBlogSourcesAbout

Public registry of Estonian companies — every fact traceable to a source and a date. Free and ad-free for everyone.

Nimistu MTÜ
Address: Parda tn 8, 10151 Tallinn, Estonia
E-mail: info@nimistu.ee

Browse

  • Home
  • Views
  • Industries
  • Activity licences
  • Recent registrations

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  • 79 sources
  • Database
  • Extensions
  • MCP

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  • About
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© 2026 Nimistu MTÜ. License CC-BY-SA 4.0 · details
Data · 8 sourcese-Business Register · 2 min agoMTAMTRFinantsinspektsioon
e-Business Register ↗

Registered 11. detsember 2018, primary activity: Fund management activities. Main place of business in Lasnamäe linnaosa, Tallinn, Harju maakond.

Revenue 2026 II kv
0 €
▼ 7% vs 2024
As of 10.07.2026 (MTA)
Employees
2
2026 (MTA)
Taxes paid
52 788 €
State + labour taxes · 2026 II kv
Tax debt
0 €
As of 09.08.2026 (MTA)
Revenue 2026 (I-II kv)
0 €
▼ 7% vs 2024
As of 10.07.2026 (MTA)
Employees
2
2026 (MTA)
Taxes paid
123k €
State + labour taxes · 2026 (I-II kv)
Tax debt
€0
As of 09.08.2026 (MTA)

Officers (3)

e-Business Register · 21 h ago
AB
Andris Bērziņš
Born 1971 · 54 y · board member since 11.12.2018
Board member
RO
Rait Ojasaar
Born 1980 · 45 y · board member since 11.12.2018
Board member
AN
Aveli Nurk
Born 1994 · 32 y · board member since 25.07.2024
Board member

Founders

e-Business Register · 21 h ago
CH
CVF Holdings OÜLEGAL PERSON
Legal person · 14613255 · founder since 12.11.2018
Founder · 3k €

Shareholders

e-Business Register · 21 h ago
CH
CVF Holdings OÜLEGAL PERSON
Legal person · 14613255 · shareholder since 25.07.2024
Shareholder 100% · 25k €

Subsidiaries

e-Business Register · shareholders · 21 h ago
CVF Fund Manager OÜ14623897Usaldusfond Change Ventur…14802453Usaldusfond CVF Co-Invest…16574714Usaldusfond CVF Co-Invest…16578729Usaldusfond CVF Co-Invest…16269589

Fund manager (1)

e-Business Register · 21 h ago
Usaldusfond Change Ventures Fund II
Rahaturufondide ja muude investeerimisfondide tegevus
14802453

Registrar of the members (6)

e-Business Register · 21 h ago
Usaldusfond Change Ventures Fund II
Rahaturufondide ja muude investeerimisfondide tegevus
14802453
Usaldusfond CVF Co-Invest Five
Rahaturufondide ja muude investeerimisfondide tegevus
16574714
Usaldusfond CVF Co-Invest Four
Fondide valitsemine
16578729
Usaldusfond CVF Co-Invest One
Rahaturufondide ja muude investeerimisfondide tegevus
16269589
Usaldusfond CVF Co-Invest Three

General partner (6)

e-Business Register · 21 h ago
Usaldusfond Change Ventures Fund II
Rahaturufondide ja muude investeerimisfondide tegevus
14802453
Usaldusfond CVF Co-Invest Five
Rahaturufondide ja muude investeerimisfondide tegevus
16574714
Usaldusfond CVF Co-Invest Four
Fondide valitsemine
16578729
Usaldusfond CVF Co-Invest One
Rahaturufondide ja muude investeerimisfondide tegevus
16269589
Usaldusfond CVF Co-Invest Three

Annual reports (7)

e-Business Register · annual reports · 4 päeva tagasi
Revenue 2025
598k €
↘ -6.7% vs 2024
State taxes 2025
91k €
↘ -32.9% vs 2024
Employees 2025
3
↘ -25.0% vs 2024
YearRevenueProfit

Taxes, revenue and employees

Estonian Tax and Customs Board · 10.07.2026 as of
20k €10k €0

Licences (1)

MTR · 20 h tagasi
Active licences
1
Finantsteenused1
Oldest · Newest
2019→2019
Oldest licenceFFA000314 · 18.01.2019
Active1 / 1
FFA000314
Finantseerimisasutusena tegutsemine
Tegevusluba
From18.01.2019
UntilOpen-ended
Valid

Tech stack

Tehnoloogiad
Mobile carrier
+372 5188255Telia Eesti AS

History

last 2 years · MTA + ÄR + MTR + Procurements
2026
30.06.2026ReportEsitati 2025. aasta aruanne— Käive 597 824 €
2025
27.06.2025ReportEsitati 2024. aasta aruanne— Käive 640 538 €
2024
04.11.2024FilingMuutmiskanne TsMS § 595¹ lg 1 alusel2×expand ›hide ⌃
  • Ä 50108543 / 7 · Olek: Jõustunud
  • Kanne nr 7 · kanne

Connected companies

Same-person ties · e-Business Register

CVF Fund Manager OÜ is connected to 30 other companies through 3 people who hold a role here and elsewhere. The strongest tie runs through Rait Ojasaar (20 companies).

Total connections
30
via 3 people
Connecting people
3
Active here
Distinct roles
1
Board member
Strongest tie
Rait
20 companies
Via personRait Ojasaar
Usaldusfond CVF Co-Invest…16449088Usaldusfond CVF Co-Invest…16322332
CVF Fund Manager OÜ is a shareholder or officer in 6 more companies.
Rahaturufondide ja muude investeerimisfondide tegevus
16449088
Usaldusfond CVF Co-Invest Two
Rahaturufondide ja muude investeerimisfondide tegevus
16322332
Rahaturufondide ja muude investeerimisfondide tegevus
16449088
Usaldusfond CVF Co-Invest Two
Rahaturufondide ja muude investeerimisfondide tegevus
16322332
Equity
Assets
Employees
2025597 824 €273 619 €1,4m €1,4m €330.06.2026
2024640 538 €103 389 €1,2m €1,2m €427.06.2025
2023742 112 €117 682 €1,1m €1,2m €412.06.2024
2022948 362 €250 722 €1,1m €1,2m €428.06.2023
20211 532 514 €1 001 657 €1,0m €1,1m €430.06.2022
2020481 040 €−4390 €38k €68k €320.07.2021
2019120 260 €39 694 €42k €63k €222.01.2021
Original files in PDF – the full register on e-Business Register.View reports on e-Business Register
20222023202420252026
YearRevenue (a)State taxesTaxes on workforceEmployees (Q4)
2026I-II Q0 €78 169 €44 371 €2
20250 €91 375 €84 384 €1
20246100 €136 153 €106 108 €2
202315 037 €158 734 €121 347 €2
20223681 €101 145 €101 368 €2
Quarterly breakdown
YearQ1Q2Q3Q4
Revenue 20260 €0 €––
State taxes 202647k €31k €––
Taxes on workforce 202623k €22k €––
Employees 202622––
Revenue 20250 €0 €0 €0 €
State taxes 202519k €18k €21k €33k €
Taxes on workforce 202519k €19k €23k €23k €
Employees 20252111
Revenue 20240 €220 €6k €22 €
State taxes 202462k €26k €28k €20k €
Taxes on workforce 202431k €27k €27k €21k €
Employees 20242222
Revenue 202315k €37 €0 €0 €
State taxes 202368k €23k €31k €37k €
Taxes on workforce 202329k €24k €32k €37k €
Employees 20231222
Revenue 20222 €2k €2k €334 €
State taxes 202224k €26k €25k €26k €
Taxes on workforce 202222k €26k €26k €27k €
Employees 20222222
01.10.2024FilingMuutmiskanne2×expand ›hide ⌃
  • Ä 50108543 / 6 · Olek: Jõustunud
  • Kanne nr 6 · kanne
20
Andris Bērziņš6
Aveli Nurk4
RO
Rait Ojasaar
board member
20 other companies›
CompanyRoleReg. code
Acctax Holding OÜ
Board member
17324043
Alter Security OÜ
Founder
12492416
Antifragile Holding OÜ
Board memberShareholder 100%Founder
14603937
Change Ventures OÜ
Board memberShareholder 33%Founder
14025819
Crowdestate AS
Supervisory board member
14773059
CVF 3 Fund Manager OÜ
Board member
16594266
CVF 3 Investment Advisor OÜ
Board member
16593640
CVF Holdings OÜ
Board member
14613255
CVF Investment Advisor OÜ
Board member
14621409
Indilo Solutions OÜ
Board member
11461684
KUMA Design OÜ
Board memberShareholder 50%Founder
12705533
LedgerTech OÜ
Board member
17026765
MeetFrank OÜ
Supervisory board member
14314682
Metergram OÜ
Founder
12526440
Mittetulundusühing Mareti
Board member
80227982
Neurisium OÜ
Board member
14301372
… and 4 more · see on the person page ↗
AB
Andris Bērziņš
board member
6 other companies›
CompanyRoleReg. code
99math OÜ
Supervisory board member
14682374
Change Ventures OÜ
Board memberShareholder 33%
14025819
AN
Aveli Nurk
board member
4 other companies›
CompanyRoleReg. code
CVF 3 Fund Manager OÜ
Board member
16594266
CVF Holdings OÜ
Shareholder 6%
14613255
Naute Creations OÜ
CVF 3 Fund Manager OÜ
Board member
16594266
CVF 3 Investment Advisor OÜ
Board member
16593640
CVF Holdings OÜ
Board member
14613255
CVF Investment Advisor OÜ
Board member
14621409
LiquidatorShareholder 50%
14619269
Raisin Ventures OÜ
Shareholder 100%FounderBoard member
17022980

Analysis · 2025

computed from annual reports
Revenue598k €median 110k €5.5× the sector median
Net margin45.8%median 22.3%+23.5 pp vs sector median
Revenue per employee199k €median 150k €1.3× the sector median
Revenue change-6.7%median 2.5%-9.1 pp vs sector median
Equity ratio97.1%
Current ratio1.54
Labour cost of revenue39.8%
Profit per employee91 206 €
Compared with2024revenue 641k €

Peer group: Fondide valitsemine, 60 trading companies that filed a report in the last three years.

Founded 2018. That year 14,762 osaühing were registered; 14,175 are still trading, or 96.0%.