Expansion Capital

Expansion Capital is a Latvian investment firm based in Riga, established in 2013. It manages a mezzanine fund that focuses on financing promising ideas, projects, and companies primarily in Latvia. The fund targets various sectors, including wood products, information technology, metals, minerals and mining, commercial transportation, healthcare, containers and packaging, and manufacturing. Investments typically range from EUR 150,000 to EUR 2,730,000. Expansion Capital aims to participate in initiatives organized by the Latvian state-owned development finance institution ALTUM, furthering its commitment to support the growth of innovative local enterprises.

Eriks Fritssons

Chairman and Partner

Andris Keziks

Partner and Board Member

Zigmars Reklaitis

Chairman of the Board, Partner

36 past transactions

Yieldstreet

Series C in 2021
Yieldstreet Management, LLC is a principal investment firm based in New York, New York. The firm focuses on providing investors access to asset-based investments that have traditionally been unavailable to the broader market. Yieldstreet aims to democratize investment opportunities by allowing individuals to participate in curated investments that exhibit low correlation to traditional market fluctuations and offer high yield potential. The firm specializes in various alternative asset classes, including litigation finance and real estate, aligning its mission with the goal of fostering prosperity for all investors.

Hepta Airborne

Seed Round in 2020
Hepta Airborne Ltd specializes in airborne inspection and technical analysis, offering consulting services primarily for the electricity infrastructure sector. Utilizing advanced drones with a six-hour flight capability, the company conducts inspections of poles, lines, insulators, transformers, and other equipment, while also assisting in the planning and route selection for overhead lines, land cables, and renewable energy projects. Hepta Airborne integrates its drone technology with autonomous data processing platforms and various sensors to deliver accurate assessments, thereby enhancing efficiency for power grid operators. Additionally, the company provides geographic information system consulting and utility construction design services, ensuring comprehensive support for clients' needs. Founded in 2017 and headquartered in Tallinn, Estonia, Hepta Airborne emphasizes the importance of big data in optimizing inspection processes and reducing environmental impact.

Hepta Airborne

Seed Round in 2019
Hepta Airborne Ltd specializes in airborne inspection and technical analysis, offering consulting services primarily for the electricity infrastructure sector. Utilizing advanced drones with a six-hour flight capability, the company conducts inspections of poles, lines, insulators, transformers, and other equipment, while also assisting in the planning and route selection for overhead lines, land cables, and renewable energy projects. Hepta Airborne integrates its drone technology with autonomous data processing platforms and various sensors to deliver accurate assessments, thereby enhancing efficiency for power grid operators. Additionally, the company provides geographic information system consulting and utility construction design services, ensuring comprehensive support for clients' needs. Founded in 2017 and headquartered in Tallinn, Estonia, Hepta Airborne emphasizes the importance of big data in optimizing inspection processes and reducing environmental impact.

Aerones Nordic

Series A in 2019
Industrial drone services in Scandinavian and Baltic countries

Cito Pluss, Ltd.

Seed Round in 2016
Cito Pluss, Ltd. is a provider of transport services for wood chips companies.

Lielupes Industriālais

Seed Round in 2016
SIA Lielupes Industriālais Parks operates an industrial park located in Jelgava, Latvia, specializing in the development of industrial and warehouse real estate for lease. The company provides modern infrastructure and a range of services including professional fleet management, storage solutions, cargo handling, and terminal infrastructure maintenance. These offerings are designed to meet the specific needs of clients, facilitating efficient operations and logistics.

Captomatic

Seed Round in 2016
Captomatic is a world's only automatic roller coaster camera system for photography and on-ride video.

TC Motors

Venture Round in 2016
TC Motors is a prominent automotive dealership located in Riga, Latvia, specializing in the sale of new and used vehicles from brands such as Chrysler, Jeep, Dodge, RAM, Lancia, and Subaru. The dealership, situated on Krasta Street, is known for its distinctive design, accessibility, and inviting atmosphere. In addition to vehicle sales, TC Motors offers a range of services, including body repair and auto spa treatments, ensuring comprehensive care for customers' vehicles. The company's commitment to exceptional customer service is supported by a dedicated team passionate about the automotive industry.

RRKP Buve. SIA

Seed Round in 2016
RRKP Buve. SIA is a manufacturer of sawmill.

Baltspan, SIA

Seed Round in 2016
SIA Baltspan is animal bedding producer from wood shavings. Our company was established in 2015 and is located in Cesis, Latvia.

SIA Sindas Kaltes

Venture Round in 2016
SIA Sindas Kaltes is a provider SIA wood drying services.

Gas Powered Rail Latvia

Debt Financing in 2015
Gas Powered Rail Latvia is a developer of dual fuel systems for locomotives.

SIA LGT Operators

Venture Round in 2015
SIA LGT Operators is a liquid food cargo terminal operator.

SIA Viduskurzemes AAO

Venture Round in 2015
SIA Viduskurzemes AAO, established in 2009 and located in Broceni, Latvia, specializes in waste management and recycling services. The company offers a range of services, including bulky waste collection, debris collection, and the recycling of waste into fuels. SIA Viduskurzemes AAO is committed to delivering high-quality waste management solutions while maintaining competitive pricing for its services.

BaltBrand

Venture Round in 2015
The company offers design, production and assembly of wood drying equipment, corresponding to the standards of European Union. We offer different level of solutions – from individual elements of wood dryers (wood drying equipment) to a full service including advisory services, appropriate equipment selection production, delivery, installation, commissioning and servicing equipment during the warranty and post-warranty period.

SIA Rienzi

Venture Round in 2015
SIA Rienzi is a producer of chocolate, and bakery cakes.

Lakijs SIA

Venture Round in 2015
Lakijs SIA is a wholesale and processing of berries and mushrooms.

SIA Smart Meter

Venture Round in 2015
SIA Smart Meter is a manufacturer of service water flow meters.

Valmiera Typography Lapa

Debt Financing in 2015
Valmiera Glass USA Corp. manufactures fiberglass and fiberglass products.

GMT Beauty Trade Ltd.

Venture Round in 2015
The GMT BEAUTY creators — professionals with more than 20 years of practical experience in beauty care and aesthetic medicine — are certain: a human being is a unitary energy system. We have used the results of recent studies and scientific discoveries in cosmetology, biochemistry, and aesthetics to create the brand GMT BEAUTY .

Airdog

Seed Round in 2015
Airdog SIA. designs and manufactures airborne drones. The company offers AirDog, a foldable quadcopter that tracks position and follows the user with the help of AirLeash, a wearable tracking device. It offers products to action sports enthusiasts, professionals, and filmmakers who use GoPro cameras. Airdog SIA. was founded in 2012 and is based in Riga, Latvia. As of May 15, 2020, Airdog SIA. operates as a subsidiary of Alarm.com Holdings, Inc.

Veiters Corp

Venture Round in 2015
VEITERS is one of the largest offset printing and high quality printing companies in the Baltic countries. Our specialization is sheet offset printing. We manufacture high quality full color printing products.

Baltic Floating Structures

Debt Financing in 2015
Baltic Floating Structures develops innovative solutions in water construction industry.

SIA Muižnieks

Debt Financing in 2015
SIA Muižnieks offers to buy lumber and fireplaces in a wide assortment.

AIM Systems SIA

Seed Round in 2015
AIM Systems SIA is a provider of software services.

Packaged Ice, SIA

Seed Round in 2015
Packaged Ice, SIA offer temperature-controlled transport services in the entire territory of Latvia.

Monea

Venture Round in 2014
Monea is a P2P micropayment application (Android and IOS) that provides money transfers to all your phonebook contacts directly from your bank account into their bank account within 1 minute. There's no need to input any bank credentials of the receiving party and there are no top-up accounts involved. The 1-minute promise works even if you reside in different banks.

SH Capital SIA

Seed Round in 2014
SH Capital SIA is a Industrial real estate development company provide real estate services for lease.

SFM Latvia

Seed Round in 2014
SFM Latvia is a provider of Welding, assembling, shotblasting and painting of steel structures.

Angel Glass Design

Venture Round in 2014
Angel Glass Design is a designer and manufacturer of glass tableware.

SIA Krasta Motors

Seed Round in 2014
SIA Krasta Motors is a provider of car repair services.

ACE Logistics Latvia SIA

Venture Round in 2014
ACE service may be summarised as a logistic solution. What this solution may contain, depends on the necessities of the client. In the case of modern transportation and logistics services, the knowledge of the provider of services for finding the best logistic solution, and the quality of services are becoming increasingly important, besides the actual transportation service. Such service is supported by a broad high-level network of sub-contractors and partners, information technology, knowledge regarding legislative and cultural peculiarities of each country, involved in the transportation process, and naturally, by employees who are eagerly doing their job.

Scanhouse SIA

Seed Round in 2014
Scanhouse SIA is a manufacturer of wooden frame houses.

SIA RŪĶIS

Seed Round in 2014
SIA RŪĶIS is a manufacturing company that specializes in PVC (polyvinyl chloride) products, and metal frame construction. Established in 1991, SIA RŪĶIS now is one of the leading marquee, larger tent, hangar, truck cover and PVC gate manufacturer and installer in Latvia.

Baltic Wild Fish, SIA

Seed Round in 2014
Baltic Wild Fish, SIA is a provider of forest meat.