• Management & Legal

    Tauno Tats

    As CEO, Tauno runs all of the operations, management, administration, and business development at ASI. While being in touch on a regular basis with all of ASI’s portfolio companies, Tauno is responsible for Private Equity and Real Assets investments.

    Before joining ASI in mid-2007, Tauno served as the Vice-Chancellor for the Ministry of Finance of Estonia. At the ministry he was responsible for, among other things, the merger of the Taxation and Customs Boards of Estonia, a complex and celebrated milestone for the administration. He also has strong executive management experience from the banking and industrial sectors.

    He holds an M.Sc. degree from Tallinn University of Technology.

    Skype: taunotats
    Keiu Heinpalu
    Legal Counsel

    Keiu is responsible for the legal work related to ASI´s prospective investments and day-to-day operations. Keiu also supports all of ASI’s founders on any legal issues.

    Before joining ASI in 2006, Keiu worked for several privately-owned companies as a management assistant.

    Keiu is a big believer in taking healthy time off from work and spending it with family and friends.

    Keiu holds a Master's degree in Law from University of Tallinn, Estonia.
    Skype: keiuheinpalu
    Triin Tammai
    Founders Personal Assistant

    Triin helps implement the private projects of ASI owners.

    Before joining ASI, she worked in food industry. On daily basis she interacted with customers on site, leading a restaurant team and managing budgets. She resolved customers’ requests and also organised public and private events with catering, technical equipment and entertainment.

    She has a Bachelor’s degree in Hospitality Management.

    Triin is passionate about playing piano, fishing and motorcycles.

    Triinu Arukaevu
    Financial Manager

    Triinu is responsible for supervision of our finances and ensuring we have accurate reporting on our own activities.

    She’s worked in finance for her entire professional life, gaining experience at different banks over 25 years. She has been providing support in financial questions like forecasting and budgeting, efficiency analyses, Activity Based Costing, management reporting, performance reporting etc.

    Triinu studied Economics and business Administration majoring in Business Informatics at University of Tartu. She has Magister artium degree in economics.

  • Investments

    Arko Kadajane
    Portfolio Manager

    Arko is responsible for ASI's Listed Equity investments, investing ASI’s stock portfolio based on value-investing principles. Investments are made into different sectors except for non-ethical industries. He also plays the key role working out ASI's overall portfolio and investments strategy. As Arko has been involved in stock markets since 1996 and has previously worked in the fields of private equity as well as listed equity, he has extensive expertise in the qualitative and quantitative business factors.

    Before joining ASI in 2006, Arko worked as an analyst, investment manager and project manager in the investment banking field, and managed a family-owned business. In ASI, he started as a senior analyst in the private equity unit.

    Like many of his colleagues, Arko is passionate about sports. He enjoys cycling and the peace and quiet of cross-country skiing.

    Arko holds a bachelor’s degree in international business administration from the Estonian Business School.

    Skype: arkok25
    Kaspar Daljajev, CFA
    Investment Manager
    Kaspar’s primary responsibility is the research of listed securities for ASI’s investment portfolio. In addition, he analyses potential candidates for private equity investments.

    Kaspar joined ASI in 2011, prior experience involves working in stock brokerage and a short leap into entrepreneurship during university years.

    He has a BSc in Business Administration from Stockholm School of Economics in Riga (cum laude) and an MSc in Business Administration specializing in Energy studies from Norwegian School of Economics. He is also a CFA charterholder.
    Skype: kdaljajev
    Marili Merendi
    Portfolio Manager
    As a Portfolio Manager of Private Markets, Marili is behind the strategy of investments in private funds at ASI.

    Marili joined the team after 7 years of direct investments role at venture capital firm with the focus on European early stage deep tech startups. Previous experience from various international organisations in the finance and investment advisory positions from investment banking and wealth management, having worked and studied in Switzerland, the Netherlands and the US.

    Marili holds a MSc in Business Economics from University of Amsterdam, complemented by the extended studies in the US and Norway.

    Music fan and outdoor sports enthusiast.
  • Multiland

    Siim Tomson
    CEO of Multiland
    Erik Rist

    Erik's area of responsibility covers the company's forest management and day-to-day supervision. Planning of cutting, stockpiling and realisation of material.

    Before joining Multiland/ASI, Erik worked as a stockpiler at Tootsi Turvas.

    Erik is a passionate logging athlete (2016 Estonian champion) and works as an arborist in his free time. He also participates in tree climbing competitions.

    Erik holds both a Bachelor's and a Master's degree in Forest Management from the Estonian University of Life Sciences.

    Skype: erik_rist
    Liina Tiivoja
    Liina's main responsibility is Multiland OÜ accounting and also supporting the team in other day-to-day operations.

    Liina joined ASI in 2022, prior to that she has worked 9 years in accountancy, providing services to several clients among different business fields. In addition to accounting, she also has experience and knowledge in taxation and financial management.

    She loves spending her spare time with family and friends and also being in the nature, reading and doing yoga. 
  • Founders

    Toivo Annus
    In Memoriam

    He was a co-founder of Skype, where he built and managed engineering organization, based in Tallinn, Estonia, being responsible for the hiring, engineering processes in general and delivery of the core p2p functional component until Ebay acquired the company in late 2005.

    Since 2011 was Toivo active as an individual investor, focusing on early stage B2C ecommerce, drones and payments projects. 

    Priit Kasesalu

    Like other founders, Priit is involved in ASI's investment decision making process.

    Priit is co-founder of Skype and played an integral role in developing Kazaa.

    While cryptography and data communication are his areas of expertise, his other passion is computer game development. Together with Ahti and Jaan, he wrote the first Estonian commercial computer game, Kosmonaut.

    Skype: priit
    Ahti Heinla

    Like other founders, Ahti is involved in ASI's investment decision making process.

    He is currently at Starship Technologies as co-founder/co-CEO/CTO, developing and operating robotic urban delivery technology for food, grocery, and package industries. 

    Ahti picked up programming at the early age of ten, his fascination with all things technical resulting in him being the lead technical architect and co-founder at Skype. Ahti has also worked on artificial intelligence, 3D graphics engines, signal processing, and building mobile phones.

    Skype: ahti
    Jaan Tallinn

    Like other founders, Jaan is involved in ASI's investment decision making process.

    Jaan is a founding engineer of Skype and Kazaa. He is also a co-founder of the Cambridge Centre for the Study of Existential Risk and Future of Life Institute, philanthropically supporting other existential risk research organisations. Jaan is on the Board of Sponsors of the Bulletin of the Atomic Scientists and has served on the Estonian President's Academic Advisory Board. He is also an active angel investor and a former investor in and director of the AI company DeepMind.

    Skype: jaan
  • Advisory

    Margus Uudam
    Founding partner at Previously head of venture capital investments at Ambient Sound Investments, chairman of EstVCA, CEO at Estonian Energy Distribution Network and Fontes. Excited about strategy, growth, HR and business models.
    Kristjan Laanemaa
    Founding partner at Previously investment manager at Ambient Sound Investments, finance specialist at SLProductions and LHV Corporate Finance. Mentor to entrepreneurs in Seedcamp and Startup Wise Guys accelerators.