{"id":2756,"date":"2025-12-26T21:17:34","date_gmt":"2025-12-26T21:17:34","guid":{"rendered":"https:\/\/fundguidr.ee\/?p=2756"},"modified":"2026-01-03T12:35:07","modified_gmt":"2026-01-03T12:35:07","slug":"deeptech-fintech-risks-returns","status":"publish","type":"post","link":"https:\/\/fundguidr.ee\/en\/market-outlook-and-trends\/deeptech-fintech-risks-returns\/","title":{"rendered":"DeepTech vs. FinTech: 2 big areas, their risks, returns, and what to consider"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f6f8ff&#8221; background_image=&#8221;https:\/\/fundguidr.ee\/wp-content\/uploads\/2022\/11\/BG-28.png&#8221; background_size=&#8221;initial&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; width=&#8221;90%&#8221; custom_css_main_element=&#8221;position: unset;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; custom_css_main_element=&#8221;position: unset;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_post_title meta=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; specialty=&#8221;on&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;1_3&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_code _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div id=\"fundguidr-toc-wrapper\" style=\"width: 100%; clear: both;\"><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    <\/p>\n<style><!-- [et_pb_line_break_holder] -->        \/* --- 1. 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TOGGLE BUTTON CLICK<!-- [et_pb_line_break_holder] -->        $toggleBtn.on('click', function() {<!-- [et_pb_line_break_holder] -->            $tocList.slideToggle(300, function() {<!-- [et_pb_line_break_holder] -->                \/\/ Update Icon based on visibility<!-- [et_pb_line_break_holder] -->                if ($tocList.is(':visible')) {<!-- [et_pb_line_break_holder] -->                    $toggleIcon.html('&minus;'); \/\/ Minus<!-- [et_pb_line_break_holder] -->                } else {<!-- [et_pb_line_break_holder] -->                    $toggleIcon.html('&#43;');   \/\/ Plus<!-- [et_pb_line_break_holder] -->                }<!-- [et_pb_line_break_holder] -->            });<!-- [et_pb_line_break_holder] -->        });<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    });<!-- [et_pb_line_break_holder] -->    <\/script><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] --><\/div>\n<p>[\/et_pb_code][\/et_pb_column][et_pb_column type=&#8221;2_3&#8243; specialty_columns=&#8221;2&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_row_inner module_id=&#8221;aktsia5&#8243; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column_inner _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; saved_specialty_column_type=&#8221;2_3&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_image src=&#8221;https:\/\/fundguidr.ee\/wp-content\/uploads\/2025\/12\/deeptech-scaled.jpg&#8221; alt=&#8221;deeptech&#8221; title_text=&#8221;deeptech&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; max_width=&#8221;62%&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][et_pb_blurb content_max_width=&#8221;100%&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; header_font=&#8221;Nunito|700|||||||&#8221; header_text_color=&#8221;#171717&#8243; header_font_size=&#8221;22px&#8221; body_font=&#8221;Poppins||||||||&#8221; body_text_color=&#8221;#171717&#8243; custom_margin=&#8221;||25px||false|false&#8221; hover_enabled=&#8221;0&#8243; text_orientation_tablet=&#8221;center&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h2 style=\"text-align: left;\"><b>I. Sissejuhatus: tehnoloogia kahepalgeline maailm\u00a0<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Tehnoloogiasektor on investeerimismaailmas laialt esindatud, kuid selle sees leidub kaks kardinaalselt erinevat filosoofiat: <\/span><b>FinTech<\/b><span style=\"font-weight: 400;\"> (finantstehnoloogia) ja <\/span><b>DeepTech<\/b><span style=\"font-weight: 400;\"> (s\u00fcvatehnoloogia). FinTech tegeleb valdavalt rahavoogude optimeerimise ja digitaliseerimisega (maksmine, pangandus), samas kui DeepTech tegeleb fundamentaalsete teaduslike ja insenertehniliste v\u00e4ljakutsetega (AI algoritmide loomine, uued ravimimeetodid).<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Investorite jaoks t\u00e4hendavad need erinevused t\u00e4iesti erinevaid riski- ja tuluprofiile. Kui FinTech pakub sageli kiiret ja prognoositavat kasvu, siis DeepTech on <\/span><i><span style=\"font-weight: 400;\">all-or-nothing<\/span><\/i><span style=\"font-weight: 400;\"> panus, mille eba\u00f5nnestumise risk on suur, kuid edukuse korral on potentsiaal eksponentsiaalne. See artikkel anal\u00fc\u00fcsib nende kahe sektori \u00e4rimudeleid, listimisd\u00fcnamikat ja seda, kuidas investor peaks nende aktsiate pikaajalisele j\u00f5udlusele l\u00e4henema.<\/span><\/p>\n<h2 style=\"text-align: left;\">\u00a0<\/h2>\n<h2 style=\"text-align: left;\"><b>II. FinTech: mastaap, marginaal ja regulatiivne tundlikkus<\/b><\/h2>\n<h3 style=\"text-align: left;\"><b>2.1. \u00c4riloogika, m\u00f5\u00f5dikud ja ajalooline j\u00f5udlus<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">FinTech-ettev\u00f5tted on ehitatud \u00fcles rahavoogude optimeerimise ja olemasolevate protsesside digitaliseerimise peale. Nende edukus p\u00f5hineb <\/span><b>mastaabi<\/b><span style=\"font-weight: 400;\"> ja <\/span><b>kasutaja kaasamise<\/b><span style=\"font-weight: 400;\"> kiirusel. V\u00f5tmem\u00f5\u00f5dikud (klientide arv, tehingute maht, <\/span><i><span style=\"font-weight: 400;\">CAC\/LTV<\/span><\/i><span style=\"font-weight: 400;\"> suhe) n\u00e4itavad <\/span><i><span style=\"font-weight: 400;\">FinTech<\/span><\/i><span style=\"font-weight: 400;\">&#8217;i otsest s\u00f5ltuvust turu aktiivsusest.<\/span><\/p>\n<p style=\"text-align: left;\"><b>Ajalooline kontekst:<\/b><span style=\"font-weight: 400;\"> FinTech aktsiad (<\/span><i><span style=\"font-weight: 400;\">Wise, <a href=\"https:\/\/www.adyen.com\/\" target=\"_blank\" rel=\"noopener\">Adyen<\/a><\/span><\/i><span style=\"font-weight: 400;\">) nautisid kiiret kasvu 2020\u20132021. aastal, kui e-kaubandus ja piiri\u00fclesed tehingud plahvatuslikult kasvasid. Kuid 2022. aastal, kui intressim\u00e4\u00e4rad t\u00f5usid, langesid FinTech aktsiad sageli j\u00e4rsult. See demonstreeris nende tundlikkust <\/span><b>makromajanduslike tegurite<\/b><span style=\"font-weight: 400;\"> suhtes.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>2.2. Regulatiivne risk ja <\/b><b><i>case study<\/i><\/b><\/h3>\n<p style=\"text-align: left;\"><i><span style=\"font-weight: 400;\">FinTech<\/span><\/i><span style=\"font-weight: 400;\">&#8217;i puhul on regulatiivne risk Eestis ja Euroopas alati esiplaanil. Euroopa Liidu finantsregulatsioonid (nt PSD2, MiFID) m\u00e4\u00e4ravad, kuidas <\/span><i><span style=\"font-weight: 400;\">FinTech<\/span><\/i><span style=\"font-weight: 400;\"> v\u00f5ib toimetada.<\/span><\/p>\n<p style=\"text-align: left;\"><b>Case Study: BNPL ja regulatsioonid:<\/b> <i><span style=\"font-weight: 400;\">Buy Now Pay Later<\/span><\/i><span style=\"font-weight: 400;\"> (BNPL) firmad (<\/span><i><span style=\"font-weight: 400;\">Klarna<\/span><\/i><span style=\"font-weight: 400;\">) said kasu kergest ligip\u00e4\u00e4sust tarbijakrediidile. Kui aga regulatsioonid (nt EL-i tasandil) kitsendavad krediidi andmist v\u00f5i n\u00f5uavad suuremat riskikapitali, m\u00f5jutab see otseselt nende kasumimarginaale ja seega IPO-j\u00e4rgset aktsiahinda. Investor peab anal\u00fc\u00fcsima, kui h\u00e4sti on ettev\u00f5te valmis regulatiivseteks muudatusteks.<\/span><\/p>\n<h2 style=\"text-align: left;\"><b>III. DeepTech: teaduslik l\u00e4bimurre ja pikaajaline panus\u00a0<\/b><\/h2>\n<h3 style=\"text-align: left;\"><b>3.1. Mis on DeepTech? Fundamentaalsed nurgakivid<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">DeepTech viitab ettev\u00f5tetele, mille v\u00e4\u00e4rtus p\u00f5hineb fundamentaalsel teadusel, inseneriteadusel ja patenteeritud <\/span><b>intellektuaalomandil (IP)<\/b><span style=\"font-weight: 400;\">. See n\u00f5uab hiiglaslikke investeeringuid teadusesse ja arendamisesse (Research and Development aka R&amp;D) ja pikka, ebakindlat teed turule.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Valdkonnad:<\/b><span style=\"font-weight: 400;\"> Kvanttehnoloogia, arenenud biotehnoloogia (mRNA, geeniteraapia), <a href=\"https:\/\/fundguidr.ee\/uncategorized\/tehisintellekt-ai-aktsiad-artificial\/\">AI<\/a> tuumiklahendused, arenenud <\/span><i><span style=\"font-weight: 400;\">GreenTech<\/span><\/i><span style=\"font-weight: 400;\"> (tuumaenergeetika, akude keemia).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>N\u00e4ited:<\/b> <b>Moderna\/BioNTech<\/b><span style=\"font-weight: 400;\"> (mRNA tehnoloogia), <\/span><b><a href=\"https:\/\/openai.com\/\" target=\"_blank\" rel=\"noopener\">OpenAI<\/a>\/Anthropic<\/b><span style=\"font-weight: 400;\"> (suured keelemudelid), <\/span><b>Northvolt<\/b><span style=\"font-weight: 400;\"> (arenenud akutehnoloogia) ja kvantarvutuse ettev\u00f5tted.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u00c4rimudel:<\/b><span style=\"font-weight: 400;\"> DeepTech m\u00fc\u00fcb kas tehnoloogiatootest saadavat litsentsi, spetsiifilist lahendust (nt k\u00fcberkaitse) v\u00f5i t\u00e4iesti uut toodet (nt uus ravim).<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: left;\">\u00a0<\/h2>\n<h3 style=\"text-align: left;\"><b>3.2. Finantsid ja IPO d\u00fcnaamika: ebaregulaarne j\u00f5udlus<\/b><\/h3>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pikk ja kallis T&amp;A:<\/b><span style=\"font-weight: 400;\"> DeepTech&#8217;i firmad on <a href=\"https:\/\/fundguidr.ee\/uncategorized\/ipo-ohud-mida-peaksid-teadma\/\">IPO<\/a> ajal peaaegu alati <\/span><b>kahjumlikud<\/b><span style=\"font-weight: 400;\">, sest nad vajavad aastatepikkust ja kallist teadus- ja arendustegevust. N\u00e4iteks vajab uus ravim aastatepikkuseid kliinilisi katseid.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>V\u00e4\u00e4rtus IP-s:<\/b><span style=\"font-weight: 400;\"> Investor ei hinda DeepTech&#8217;i aktsiat mitte hetkekasumi, vaid <\/span><b>turustamisvalmiduse<\/b><span style=\"font-weight: 400;\"> ja <\/span><b>patenteeritud intellektuaalomandi v\u00e4\u00e4rtuse<\/b><span style=\"font-weight: 400;\"> alusel. DeepTech&#8217;i listimisel on kriitiline n\u00e4ha, millises arengufaasis teadusprojekt on (nt kas kliiniline katse on l\u00f5petatud).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Aktsia j\u00f5udlus:<\/b><span style=\"font-weight: 400;\"> DeepTech&#8217;i aktsia hind on sageli <\/span><b>volatiilne ja reageerib ebaregulaarselt<\/b><span style=\"font-weight: 400;\">. P\u00fcsiva kasvu asemel toimuvad hinnas h\u00fcpped, mis on seotud <\/span><b>teaduslike verstapostide<\/b><span style=\"font-weight: 400;\"> v\u00f5i regulatiivsete heakskiitudega. Eba\u00f5nnestumine katsel v\u00f5ib t\u00e4hendada aktsia v\u00e4\u00e4rtuse langust k\u00fcmnete protsentide v\u00f5rra.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: left;\">\u00a0<\/h2>\n<p style=\"text-align: left;\"><b>Case Study: Biotehnoloogia ja COVID-19:<\/b><span style=\"font-weight: 400;\"> Vaktsiinide arendajad (<\/span><i><span style=\"font-weight: 400;\">Moderna, BioNTech<\/span><\/i><span style=\"font-weight: 400;\">) n\u00e4itasid erandlikku <\/span><i><span style=\"font-weight: 400;\">DeepTech<\/span><\/i><span style=\"font-weight: 400;\">&#8217;i potentsiaali. Aastatepikkune madal aktsiahind muutus plahvatuslikuks, kui saabus teaduslik l\u00e4bimurre (mRNA efektiivsuse t\u00f5estamine). Kuid paljude teiste <\/span><i><span style=\"font-weight: 400;\">DeepTech<\/span><\/i><span style=\"font-weight: 400;\"> ettev\u00f5tete puhul on hind IPO-j\u00e4rgselt madal, kuni teaduslik eba\u00f5nnestumine (nt kliiniline katse) v\u00f5ib aktsia v\u00e4\u00e4rtuse nullida.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>3.3. IP hindamine: m\u00f5\u00f5dikud IPO-l<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">DeepTech&#8217;i IPO-l on traditsioonilised m\u00f5\u00f5dikud (P\/E suhe, EBITDA) praktiliselt kasutud. Investor peab hindama j\u00e4rgmist:<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Patendiportfelli tugevus:<\/b><span style=\"font-weight: 400;\"> Kui kerge on tehnoloogiat kopeerida?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Aadressitava turu suurus (TAM):<\/b><span style=\"font-weight: 400;\"> Kas lahendus on piisavalt suur, et \u00f5igustada suuri investeeringuid?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Kapitali kasutamise efektiivsus:<\/b><span style=\"font-weight: 400;\"> Kui kaua j\u00e4tkub raha T&amp;A-ks enne uut rahastamisringi? <\/span><i><span style=\"font-weight: 400;\">DeepTech<\/span><\/i><span style=\"font-weight: 400;\"> ettev\u00f5tted vajavad pidevat raha juurdevoolu.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: left;\"><b>IV. Investorite ps\u00fchholoogia ja pikaajaline strateegia\u00a0<\/b><\/h2>\n<h3 style=\"text-align: left;\"><b>4.1. Turu sentimenti m\u00f5ju<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">IPO-del on FinTech ja DeepTech sageli hinnastatud turu sentimenti alusel, mitte ainult finantside p\u00f5hjal. Buumiperioodidel (nagu n\u00e4iteks 2021) said m\u00f5lemad sektorid ebarealistlikult k\u00f5rgeid hinnanguid.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FOMO (<\/b><b><i>Fear of Missing Out<\/i><\/b><b>):<\/b><span style=\"font-weight: 400;\"> FinTech IPO-de puhul juhib hinda sageli FOMO, eriti kui tegemist on tuntud tarbijabr\u00e4ndiga.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Teaduslik <\/b><b><i>Hype<\/i><\/b><b>:<\/b><span style=\"font-weight: 400;\"> DeepTech&#8217;i puhul juhib investorite ps\u00fchholoogiat potentsiaal <\/span><b>maailma muutvate lahenduste<\/b><span style=\"font-weight: 400;\"> loomiseks, mis v\u00f5ib tegelikke riske varjata.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: left;\"><b>4.2. Strateegia ja riski hajutamine<\/b><\/h3>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FinTech:<\/b><span style=\"font-weight: 400;\"> Investor peaks l\u00e4henema FinTech-i IPO-dele kriitiliselt, eeldades kohest hinnasurvet p\u00e4rast <\/span><i><span style=\"font-weight: 400;\">Lock-up<\/span><\/i><span style=\"font-weight: 400;\"> perioodi. Tuleb j\u00e4lgida globaalset tarbimist ja intressim\u00e4\u00e4rasid.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>DeepTech:<\/b><span style=\"font-weight: 400;\"> Investor peab aktsepteerima, et enamik <\/span><i><span style=\"font-weight: 400;\">DeepTech<\/span><\/i><span style=\"font-weight: 400;\"> panuseid eba\u00f5nnestub, kuid \u00fcks edukas projekt v\u00f5ib kompenseerida k\u00f5ik kaotused (nt 10 eba\u00f5nnestunud biotehnoloogia aktsia asemel 1 Moderna). <\/span><b>Riskide hajutamine<\/b><span style=\"font-weight: 400;\"> on siin eluliselt t\u00e4htis.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: left;\">\u00a0<\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Listimise ja aktsia pikaajalise j\u00f5udluse seisukohast on FinTech ja DeepTech vastandid.<\/span><\/p>\n<table class=\" alignleft\">\n<tbody>\n<tr>\n<td><b>Aspekt<\/b><\/td>\n<td><b>DeepTech (Teadus)<\/b><\/td>\n<td><b>FinTech (Teenus)<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>IPO Eesm\u00e4rk<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Rahastada T&amp;A ja kommertsialiseerimist.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">V\u00e4ljumine varajastele investoritele, mastaabi rahastamine.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Risk<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Teaduslik eba\u00f5nnestumine, regulatiivne tagasil\u00fckkamine.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Regulatiivsed muudatused, makrotundlikkus, konkurents.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Listimise M\u00f5\u00f5dikud<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Patendid, teaduslik faas, turu suurus (TAM).<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tehingute maht, CAC\/LTV suhe, kasumlikkuse teekaart.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>J\u00f5udlus IPO J\u00e4rgselt<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Ebaregulaarne, seotud teaduslike uudistega. Pikaajaline panus.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tugevalt seotud majandusts\u00fckliga. L\u00fchikesed, kiired t\u00f5usud.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Investeerimisstrateegia<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Hajutada riske erinevate projektide vahel, oodata kannatlikult.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">J\u00e4lgida regulatsioone ja intressim\u00e4\u00e4rade poliitikat.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: left;\"><b>DeepTech: All-or-Nothing strateegia<\/b><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">DeepTech-i listimisel on aktsia v\u00e4\u00e4rtus tihti <\/span><b>k\u00f5rgeima potentsiaali, mitte olemasoleva tulu<\/b><span style=\"font-weight: 400;\"> peal. Investorid peavad olema valmis panustama, teades, et aktsia v\u00f5ib olla ka 0, kui teaduslik projekt eba\u00f5nnestub. Edukas strateegia on <\/span><b>hajutada riske<\/b><span style=\"font-weight: 400;\"> erinevate <\/span><i><span style=\"font-weight: 400;\">DeepTech<\/span><\/i><span style=\"font-weight: 400;\"> ettev\u00f5tete vahel ja eeldada, et vaid m\u00f5ned neist \u00f5nnestuvad, kuid katavad seejuures \u00fclej\u00e4\u00e4nute kahjumi.<\/span><\/p>\n<p style=\"text-align: left;\"><b>FinTech: Optimeerimise strateegia<\/b><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">FinTech-i puhul on IPO-j\u00e4rgne j\u00f5udlus sageli <\/span><b>kiire ja ennustatav<\/b><span style=\"font-weight: 400;\">, kuid marginaalid on pideva konkurentsi ja regulatiivse surve all. N\u00e4iteks on Euroopa e-kaubanduse kasv FinTech aktsiaid kasvatanud, kuid uus maksetasude regulatsioon v\u00f5ib tulusid k\u00e4rpida. FinTech-i investor peab olema <\/span><b>d\u00fcnaamiline<\/b><span style=\"font-weight: 400;\"> ja valmis kiiresti reageerima turgude muutustele.<\/span><\/p>\n<h2 style=\"text-align: left;\">\u00a0<\/h2>\n<h2 style=\"text-align: left;\"><b>V. Case studied<\/b><\/h2>\n<h3 style=\"text-align: left;\"><b>5.1 FinTech: Kiirest eufooriast karmi reaalsuseni<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Viimase nelja aasta FinTech IPO-sid iseloomustas 2021. aasta massiivne buum, millele j\u00e4rgnes valus korrektsioon. \u00dcks m\u00e4rkimisv\u00e4\u00e4rsemaid n\u00e4iteid on Londoni b\u00f6rsil noteeritud <\/span><b>Wise (2021)<\/b><span style=\"font-weight: 400;\">, mis erines teistest oma kasumlikkuse poolest; kuigi selle aktsia on kogenud suurt volatiilsust, on ettev\u00f5te suutnud t\u00f5estada oma \u00e4rimudeli vastupidavust. Seevastu USA hiiglased nagu <\/span><b>Robinhood (2021)<\/b><span style=\"font-weight: 400;\"> ja <\/span><b>Nu Holdings (Nubank, 2021)<\/b><span style=\"font-weight: 400;\"> on n\u00e4idanud sektori kahte tahku: Robinhoodi aktsia kukkus p\u00e4rast IPO-t kiiresti, kuna jaekauplemise aktiivsus vaibus ja intressikeskkond muutus, samas kui Brasiilia digipank Nubank on suutnud p\u00e4rast esialgset langust taastuda ja n\u00e4idata tugevat kliendibaasi kasvu. <\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">\u00dcldiselt on viimase nelja aasta FinTech IPO-d \u00f5petanud investoritele, et k\u00f5rge kasv ilma selge kasumlikkuse teekonnata ei ole enam piisav \u2013 paljud 2021. aasta &#8220;t\u00e4hed&#8221; kauplevad t\u00e4na 40\u201370% madalamal oma k\u00f5igi aegade tipust.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>5.2 DeepTech: Teaduslikud l\u00e4bimurded ja pikk ooteaeg <\/b><\/h3>\n<p style=\"text-align: left;\"><b><span style=\"font-weight: 400;\">DeepTech sektoris on viimased neli aastat olnud t\u00e4is drastilisi t\u00f5use ja m\u00f5\u00f5nasid, kus edu s\u00f5ltub otseselt tehnoloogilistest verstapostidest, mitte kvartaalsetest m\u00fc\u00fcgitulemustest. Sektorile andsid tooni biotehnoloogia hiiud nagu <\/span>BioNTech (noteeritud veidi varem, kuid tipnes 2021)<span style=\"font-weight: 400;\">, mille aktsia liikumine mRNA edu tuuldes n\u00e4itas DeepTechi hiiglaslikku potentsiaali. Samas on kvantarvutuse valdkonna ettev\u00f5tted, nagu <\/span>IonQ (2021)<span style=\"font-weight: 400;\">, mis listiti SPAC-tehingu kaudu, n\u00e4idanud sektori riskantsemat poolt: aktsia on liikunud \u00fcles-alla vastavalt sellele, kui l\u00e4hedal ollakse reaalsele kommertskasutusele. Ka energeetika valdkonnas on olnud suuri liikumisi, n\u00e4iteks akutehnoloogia arendaja <\/span>QuantumScape (2020\/2021)<span style=\"font-weight: 400;\">, mille aktsia hind tegi l\u00e4bi peadp\u00f6\u00f6ritava t\u00f5usu ja seej\u00e4rel pika languse, kui selgus, et masstootmiseni j\u00f5udmine v\u00f5tab oodatust kauem aega. <\/span><\/b><\/p>\n<p style=\"text-align: left;\"><b><span style=\"font-weight: 400;\">DeepTech IPO-d on viimasel neljal aastal kinnitanud, et need on puhtalt &#8220;pika vaate&#8221; investeeringud, kus aktsia hind v\u00f5ib p\u00fcsida aastaid surve all, kuni tehnoloogia saavutab l\u00f5pliku valideerimise.<\/span><\/b><\/p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>VI. Kokkuv\u00f5te: kaks strateegilist l\u00e4henemist\u00a0<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">DeepTech ja FinTech esindavad kahte vastandlikku investeerimisparadigmat: <\/span><b>arengut (DeepTech)<\/b><span style=\"font-weight: 400;\"> vs. <\/span><b>efektiivsust (FinTech)<\/b><span style=\"font-weight: 400;\">. FinTech on ideaalne neile, kes otsivad tugevat tegevuskasvu ja on valmis taluma makro- ja regulatiivseid riske. DeepTech seevastu n\u00f5uab pikka horisonti, kannatlikkust ja valmisolekut panna raha m\u00e4ngu suure, kuid ebakindla potentsiaali nimel. M\u00f5lema puhul on edu v\u00f5ti p\u00f5hjalik <\/span><i><span style=\"font-weight: 400;\">due diligence<\/span><\/i><span style=\"font-weight: 400;\"> nende spetsiifiliste \u00e4rimudelite kontekstis.<\/span><\/p>\n<p>[\/et_pb_blurb][et_pb_image src=&#8221;https:\/\/fundguidr.ee\/wp-content\/uploads\/2025\/12\/fintech.jpg&#8221; alt=&#8221;fintech&#8221; title_text=&#8221;fintech&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; max_width=&#8221;51%&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I. Sissejuhatus: tehnoloogia kahepalgeline maailm\u00a0 Tehnoloogiasektor on investeerimismaailmas laialt esindatud, kuid selle sees leidub kaks kardinaalselt erinevat filosoofiat: FinTech (finantstehnoloogia) ja DeepTech (s\u00fcvatehnoloogia). FinTech tegeleb valdavalt rahavoogude optimeerimise ja digitaliseerimisega (maksmine, pangandus), samas kui DeepTech tegeleb fundamentaalsete teaduslike ja insenertehniliste v\u00e4ljakutsetega (AI algoritmide loomine, uued ravimimeetodid). Investorite jaoks t\u00e4hendavad need erinevused t\u00e4iesti erinevaid riski- ja [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2760,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-2756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-turuulevaated-ja-trendid"],"rank_math_title":null,"rank_math_focus_keyword":"deeptech,fintech,riskid","rank_math_description":"Selles artiklis vaatame DeepTech ja Fintech \u00e4rimudeleid, listimisd\u00fcnaamikat, ning seda, kuidas peaks investor nende aktsiatele l\u00e4henema","_links":{"self":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/comments?post=2756"}],"version-history":[{"count":7,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2756\/revisions"}],"predecessor-version":[{"id":2946,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2756\/revisions\/2946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/media\/2760"}],"wp:attachment":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/media?parent=2756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/categories?post=2756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/tags?post=2756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}