FlyCap

FlyCap is a venture capital firm based in Riga, Latvia, founded in 2013. It specializes in providing growth capital to small and medium-sized enterprises (SMEs) through equity and mezzanine investments. The firm focuses on sectors such as manufacturing, healthcare, information technology, and B2B services, with a preference for environmentally friendly companies and projects that reduce CO2 emissions. FlyCap avoids investments in industries considered immoral, such as alcohol, tobacco, and weapons, as well as sectors like fisheries and financial intermediation. It typically invests in companies with a minimum sales value of 1 million euros and limits its investment to a maximum of 1.5 million euros per entity. For startups, initial investments range from 50,000 to 200,000 euros, with the potential for follow-on funding. The firm prioritizes taking advisory roles and aims to exit its investments within four to six years through various means, including sales to management or strategic investors.

Janis Liepins

Partner

Girts Milgravis

Partner

Janis Skutelis

Partner

28 past transactions

Mintos

Debt Financing in 2024
Mintos, established in 2014 and headquartered in Riga, Latvia, is Europe's leading investment platform for earning passive income. It operates a peer-to-peer lending marketplace, connecting investors seeking attractive returns with consumers and small businesses in need of affordable loans. With over €600 million in assets under management and more than 500,000 registered users, Mintos enables investors to build diversified portfolios of income-generating assets through both automated and manual investment strategies. The platform offers investments in mortgage loans, personal unsecured loans, car loans, invoices, and small business loans, with investments possible in fractions of loans. Authorized under MiFID, Mintos has earned multiple industry awards since its founding.

Elmo

Seed Round in 2023
Elmo Remote is a state-of-the-art tool, enables to deliver vehicles directly to customers or relocate to the location where the customers are required.

Tapcore

Seed Round in 2017
Tapcore is a company founded in 2015, based in the Netherlands, that specializes in piracy detection software aimed at mobile developers. It offers a unique solution that allows developers to monetize pirated copies of their applications through advertising. Utilizing a proprietary algorithm, Tapcore enables developers to detect illegal copies of their apps, gather analytics, and implement various services to engage with and monetize these users. This innovative approach helps developers reclaim lost revenue from unauthorized installations, serving over 150 million ad requests daily.

Purified

Seed Round in 2017
Purified is a nutritional supplement supplier based in Latvia, specializing in the manufacture and distribution of chocolate-based health supplements. The company collaborates with medical professionals and scientists to create black chocolate products designed to support patients with cardiovascular, neural, and immune system disorders. With a focus on quality and efficacy, Purified aims to enhance the well-being of individuals through innovative nutritional solutions.

el Machete

Venture Round in 2016
El Machete is a fast food restaurant chain based in Riga, Latvia, specializing in a diverse range of Mexican cuisine. The menu features burritos, quesadillas, tacos, wraps, salads, and vegetarian options, catering to a wide array of tastes. In addition to its food offerings, El Machete also provides a selection of local beers, enhancing the dining experience for customers seeking authentic flavors in a casual setting.

NMS Laboratories

Venture Round in 2016
NMS Laboratories offers services to primary & secondary medical care providers, institutions involved in scientific & bio-medical research as well as other interested customers. Laboratory staff provides advisory services in all aspects of laboratory testing and, if necessary, helps in choosing the most appropriate investigative process. The NMS-Laboratory has a wide network of affiliates that allow doctors and patients to be served from all regions of Latvia. A laboratory courier service has been established, which ensures transportation of the investigated material to the laboratory and delivery of the results to the client.

Sonarworks

Venture Round in 2016
Sonarworks Ltd. is an audio technology company based in Riga, Latvia, founded in 2012. It specializes in software that calibrates sound across various headphones and speakers, enhancing audio experiences for both consumers and professionals. The company's key offerings include Reference 4, which is tailored for studio environments, and True-Fi, designed for everyday listeners. Sonarworks' SoundID technology customizes sound devices to align with individual hearing preferences, improving sound quality and eliminating noise shortcomings. This software is widely used in professional recording studios and is available online as well as through international dealers, bridging the gap between sound creators and listeners.

AirDog

Series A in 2016
AirDog is an electronics manufacturing company that specializes in developing autonomous action sports drones designed for capturing high-quality videos from the ground. The company's drones utilize innovative motion prediction technologies and advanced tracking algorithms, allowing them to operate in challenging environments without the need for manual control. This technology enables users to effortlessly record their adventures hands-free, ensuring that they always capture their experiences in the ideal frame.

HansaMatrix

Venture Round in 2016
HansaMatrix operates as an original design manufacturer (ODM), specializing in the production of electronic systems and components for various sectors including transportation, telecommunications, energy management, the Internet of Things (IoT), medicine, and defense technology. The company focuses on developing customized products and solutions, collaborating closely with clients to meet specific design objectives. HansaMatrix offers a range of manufacturing services, such as prototyping, printed circuit board assembly, and precise mechanical part manufacturing, ensuring that its products adhere to international quality standards. By prioritizing the creation of high-value-added electronics, HansaMatrix aims to achieve premium pricing for its successful product designs.

MyClinic Riga

Convertible Note in 2016
MyClinic Riga is a healthcare facility located in Riga, Latvia, providing a comprehensive range of medical services including consultations, diagnostics, surgeries, and infertility treatments. The clinic is staffed by a team of experienced medical professionals who utilize evidence-based techniques to ensure effective diagnosis and treatment. MyClinic Riga is committed to delivering quality, patient-centered care aimed at enhancing the health and well-being of its patients.

nemco

Venture Round in 2016
NEMCO SIA is a company based in Riga, Latvia, that specializes in renting water pumps and pumping systems for municipal, industrial, and construction applications. In addition to rental services, NEMCO also sells pumping equipment. Founded in 2016, the company positions itself as a solutions provider in the pumping industry, catering to various sectors that require reliable water management and pumping solutions.

HansaMatrix

Venture Round in 2015
HansaMatrix operates as an original design manufacturer (ODM), specializing in the production of electronic systems and components for various sectors including transportation, telecommunications, energy management, the Internet of Things (IoT), medicine, and defense technology. The company focuses on developing customized products and solutions, collaborating closely with clients to meet specific design objectives. HansaMatrix offers a range of manufacturing services, such as prototyping, printed circuit board assembly, and precise mechanical part manufacturing, ensuring that its products adhere to international quality standards. By prioritizing the creation of high-value-added electronics, HansaMatrix aims to achieve premium pricing for its successful product designs.

Baltuvet

Debt Financing in 2015
BaltuVet is a veterinary product and equipment wholesaler based in Latvia. The company serves a range of clients, including farms, veterinarians, veterinary clinics, and pharmacies. BaltuVet specializes in the distribution of livestock and veterinary products, offering a diverse selection that includes medicines, nutritional supplements, disinfectants, and various care products. By providing access to these essential veterinary supplies at competitive prices and ensuring quick delivery, BaltuVet aims to meet the needs of its customers effectively.

A/S Grobina

Debt Financing in 2015
A/S Grobina is a joint stock company based in Liepaja, Latvia, specializing in the fur farming of minks for fur production. Established in 1960, the company cultivates various shades of natural mink fur, catering to the Latvian market. In addition to fur production, A/S Grobina also produces feed for farm animals, contributing to the agricultural sector in the region.

LOR Klinika

Venture Round in 2015
LOR Klinika, SIA is a medical clinic located in Riga, Latvia, specializing in the diagnosis and treatment of ear, nose, and throat diseases. The clinic provides healthcare services to both children and adults, focusing on a client-centered approach to medical care. In addition to its treatment services, LOR Klinika also emphasizes medical education, contributing to the overall health and well-being of the community it serves.

HomeTV PRO

Venture Round in 2015
HomeTV Pro is a telecommunications company based in Latvia that focuses on providing information technology infrastructure services for content owners and broadcasters. The company manufactures hardware and develops proprietary software products to enhance the delivery of over-the-top video content across various devices. HomeTV Pro specializes in integrating systems that enable features such as live TV recording, allowing clients to optimize their IT infrastructure for improved efficiency and growth.

AirDog

Seed Round in 2015
AirDog is an electronics manufacturing company that specializes in developing autonomous action sports drones designed for capturing high-quality videos from the ground. The company's drones utilize innovative motion prediction technologies and advanced tracking algorithms, allowing them to operate in challenging environments without the need for manual control. This technology enables users to effortlessly record their adventures hands-free, ensuring that they always capture their experiences in the ideal frame.

RCG Lighthouse

Seed Round in 2015
RCG Lighthouse is a Lighting as a Service company based in Riga, Latvia, specializing in providing comprehensive lighting solutions across Europe. The company offers services that include lighting audits to evaluate existing lighting setups, electricity consumption, and the adequacy of current lighting intensity. Additionally, RCG Lighthouse designs and implements lighting systems and provides ongoing maintenance. By utilizing its services, clients can achieve a reduction in lighting costs by at least 10% without the need for upfront investments or incurring unnecessary risks.

MolPort

Venture Round in 2015
MolPort operates a global marketplace that facilitates the procurement of chemical compounds for biotech researchers and the scientific community, aiming to expedite drug discovery. Established in 2006, MolPort provides a consolidated online database that simplifies the ordering process for screening compounds and building blocks, allowing scientists to concentrate on their research rather than procurement challenges. The company specializes in sourcing a wide range of compounds from multiple suppliers, leveraging specialized expertise and software tools to enhance the efficiency of research and development. By streamlining access to these essential materials, MolPort plays a crucial role in advancing scientific progress and innovation in drug discovery.

Prakse

Seed Round in 2014
SIA Prakse.lv is an online platform based in Riga, Latvia, that connects employers with students seeking internship opportunities. The platform serves as a career and education portal, facilitating access to work and internship vacancies for young individuals. It offers features such as virtual work experiences through online internship tours and guidance in selecting suitable educational paths. By providing these resources, Prakse.lv aims to help students explore their career options and make informed decisions about their future.

Tepix

Venture Round in 2014
Tepix is a business that specializes in interchangeable carpet rental and related services. The company provides a range of offerings, including carpet delivery, replacement, and washing. This service model allows customers to maintain clean and updated flooring solutions with convenience and ease, ensuring that their carpet needs are met regularly. By focusing on quality and customer satisfaction, Tepix aims to simplify carpet maintenance for its users.

Cannelle Bakery

Funding Round in 2014
Cannelle Bakery is a bakery based in Saldus, Latvia, founded in 1973. The company specializes in developing and producing a variety of baked goods, including breads, pastries, cakes, and biscuits, as well as frozen products. Cannelle Bakery caters to the needs of health-conscious city dwellers who seek comfort in their food while being open to new culinary experiences. Its products are sold through store bakeries, serving a diverse customer base in Latvia.

Latgales Granulas

Seed Round in 2014
Latgales Granulas is a manufacturer of high-quality ENplus A1 wooden pellets, focusing on sustainability by recycling residues and waste materials from factories. The company's production process utilizes recycled sawdust, shavings, and woodchips, which are typically discarded by manufacturing facilities. This approach not only aids in reducing waste but also promotes regional development and enhances the value of agricultural and forestry resources. Through its operations, Latgales Granulas contributes to more environmentally friendly practices in the industry while providing a valuable product for energy generation.

Arsenal Equipment Rental

Private Equity Round in 2014
Arsenal Equipment Rental, established in 2014, operates an online and retail platform for the rental and purchase of construction tools and equipment. The company offers a diverse product portfolio that includes industrial machinery, road construction equipment, concrete tools, lifting devices, hand tools, and technical work-at-height equipment. Arsenal focuses on providing high-quality tools and machinery at competitive prices, ensuring lower transportation costs for its clients. Additionally, the platform features rental equipment insurance, enhancing the customer experience by offering peace of mind. By combining an extensive range of equipment with good service, Arsenal aims to meet the needs of the construction industry effectively.

Bio2You

Private Equity Round in 2014
Bio2You is a manufacturer based in Riga, Latvia, specializing in high-quality natural skin care and lifestyle products that harness the benefits of sea buckthorn. The company offers a diverse range of personal care items, including skin care, oral care, hair care, and bath products, all formulated with an emphasis on all-natural ingredients. In addition to its product line, Bio2You provides private label and contract manufacturing services, allowing customers to access affordable, nature-inspired solutions tailored to their needs. Committed to innovation, the company continuously enhances its offerings by integrating the latest advancements in science while remaining dedicated to the healing properties of nature.

Mailigen

Seed Round in 2014
Mailigen Limited is a web-based integrated marketing software provider based in Central Hong Kong, specializing in email marketing solutions for small to medium-sized businesses, organizations, and individuals. Established in 2011 and currently a subsidiary of Pipedrive Inc., Mailigen offers a user-friendly platform that enables clients to create and manage email marketing campaigns, automate communications, and segment their audiences effectively. The service includes features such as a WYSIWYG editor, pre-designed templates, autoresponders, analytics, and an intuitive drag-and-drop email template editor. Mailigen also integrates SMS marketing, dynamic RSS content, and supports various e-commerce platforms like Shopify and Magento. With a focus on cost-effectiveness, Mailigen provides all its features in a single plan, starting at a low monthly cost. The company serves diverse industries, including education, health and wellness, travel, and retail, ensuring high deliverability rates through trusted relationships with Internet Service Providers. Mailigen's dedicated support team is available 24/7 to assist clients with their marketing needs.

Practican

Seed Round in 2014
PractiCan.com is a professional network for youth. PractiCan connects students with large and mid-size companies opening doors to professional career. Practican is the best place to start your international career - More than 1/2 million internship and graduate job matches already between Students and Companies. Get first work experiences and insights in thousands of companies - Your chance to get an internship or graduate job can increase by 80% if you get a virtual work experience. Find out what it is like to work at real businesses - You can simulate real job situations. Virtual internship tours will help you understand which career excites you most. Apply for international internships and graduate jobs - New vacancies every day. More than 1000 students every day find internships and graduate jobs. Be informed about student job market and career development - Customized daily news about career and job opportunities in your profile. Be the first to find out.

MolPort

Venture Round in 2013
MolPort operates a global marketplace that facilitates the procurement of chemical compounds for biotech researchers and the scientific community, aiming to expedite drug discovery. Established in 2006, MolPort provides a consolidated online database that simplifies the ordering process for screening compounds and building blocks, allowing scientists to concentrate on their research rather than procurement challenges. The company specializes in sourcing a wide range of compounds from multiple suppliers, leveraging specialized expertise and software tools to enhance the efficiency of research and development. By streamlining access to these essential materials, MolPort plays a crucial role in advancing scientific progress and innovation in drug discovery.
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