FlyCap

FlyCap is a venture capital firm specializing in seed/ startup, early venture, mid venture, middle market, PIPEs, bridge financing, growth capital, and mezzanine investments. It prefers to invest in manufacturing which includes food, electronics, metallurgy, construction materials, chemicals, pharmacy, processing of agricultural products, timber, engineering and other products; Information Technology, healthcare, and B2B services. It does not invest in immoral industries which includes alcohol, tobacco, wagers, and weapons; insurance and financial intermediation; fisheries and aquaculture including primary production and not further processing; agricultural products and livestock farming including core product extraction; cogeneration; and companies in financial distress. It prefers to invest a maximum of €1.5 million ($1.64 million) in a single entity. In case of a start-up company the first investment can amount between €50,000 ($54,933) and €200,000 ($219,734) with the rights to invest more and acquire additional equity in the future. For sums up to €200,000 ($219,734) the firm finances 100% of the necessary funds and for sums above €200,000 ($219,734) the firm finances up to 55% of the necessary funds. For mezzanine, it prefers positive cash flow, that covers mezzanine interest payments. For startups, it prefers to have existence of first clients and financial participation of the entrepreneur in the project. The investment can be used to finance both fixed assets and working capital and cannot be used to finance buyout. It prefers to take a seat on the advisory or management board. The firm seeks to exit its investments in four to six years and plans to sell the shares it owns via company management, other shareholders, strategic investor, financial investor, IPO or other options. It invests both in capital/equity of the company. FlyCap was founded in 2013 and is based in Riga, Latvia.