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

30 past transactions

Tapcore

Seed Round in 2017
Tapcore B.V., founded in 2015 and based in Voorschoten, the Netherlands, provides a unique solution for mobile developers to monetize pirated copies of their applications through advertising. As the only company offering this specialized service, Tapcore enables developers to generate revenue from unauthorized app distributions. The company has experienced significant growth, currently handling over 150 million ad requests daily. In 2017, Tapcore became a subsidiary of Airpush, Inc., further enhancing its capabilities in the mobile advertising sector.

Purified

Seed Round in 2017
Purified specializes in nutritional supplements, focusing on functional food products that combine dark chocolate with health-promoting herbal extracts and vitamins. The company collaborates with medical professionals and scientists to ensure the quality and efficacy of its offerings. Purified's signature product is black chocolate, which is designed to provide both a pleasurable taste and beneficial health effects, appealing to consumers looking for nutritious indulgence.

el Machete

Venture Round in 2016
El Machete is a Mexican fast food chain based in Riga, Latvia, specializing in a diverse menu that includes burritos, quesadillas, tacos, wraps, salads, and vegetarian options. The restaurant focuses on delivering authentic Mexican cuisine to its customers, complemented by a selection of local beers. By offering a variety of delicious and accessible dishes, El Machete aims to provide a satisfying dining experience for those seeking flavorful Mexican fast food.

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 a software company based in Riga, Latvia, founded in 2012. It specializes in sound calibration technology that enhances audio quality on various headphones and speakers without any physical modifications. The company's flagship products include Reference 4, which is tailored for studio use and offers both studio and headphone editions, and True-Fi, designed for general listeners. Sonarworks' software is utilized by professional recording studios worldwide, with over 3,000 studios employing its technology to ensure accurate sound reproduction. The company emphasizes bridging the gap between sound creators and listeners by eliminating noise shortcomings and enabling users to experience music as intended by the artists. Sonarworks distributes its software online and through dealers, contributing to its international reach and influence in the audio industry.

AirDog

Series A in 2016
AirDog SIA is a company based in Riga, Latvia, that specializes in the design and manufacturing of airborne drones, particularly aimed at action sports enthusiasts and professionals. Established in 2012, the company is known for its flagship product, the AirDog, a foldable quadcopter that autonomously captures video by following a user wearing the AirLeash, a wearable tracking device. The AirDog is engineered for ease of transport and storage, protecting its components during travel. It features advanced motion prediction technologies and tracking algorithms that ensure precise camera control, allowing the user to remain centered in the shot without manual operation. As of May 2020, AirDog operates as a subsidiary of Alarm.com Holdings, Inc.

HansaMatrix

Venture Round in 2016
HansaMatrix operates as an original design manufacturer (ODM) specializing in the development and 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 provides customizable manufacturing processes, which encompass prototyping, printed circuit board assembly, and precise mechanical part manufacturing. This approach allows HansaMatrix to ensure efficient production while adhering to international quality standards. By focusing on achieving design goals for its clients, the company aims to deliver high-value-added electronics products and seeks to command a premium for successful product designs.

MyClinic Riga

Convertible Note in 2016
MyClinic Riga is a medical clinic located in Riga, Latvia, offering a comprehensive range of services that include medical consultations, diagnostics, surgery, and infertility treatment. The clinic is staffed by a professional and experienced team of doctors who utilize the latest evidence-based techniques to ensure effective diagnostics and treatment. MyClinic Riga emphasizes a patient-centric approach, aiming to provide quality care tailored to the individual health and well-being of each patient.

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.

PolyLabs

Seed Round in 2015
PolyLabs is an innovative chemical company specializing in the production of bio-based polyols for the polyurethane industry. These polyols serve as raw materials for rigid polyurethane foams used in thermal insulation and spray foam applications. PolyLabs caters to polyurethane systems houses seeking to diversify their product offerings with affordable bio-based alternatives. The company addresses challenges faced by polyurethane producers, such as price stability and environmental concerns arising from reliance on crude oil. By providing high-quality bio polyols at competitive prices, Polylabs enables its clients to participate in the growing green market. The bio polyols, derived from renewable resources like rapeseed and tall oil, are manufactured through a sustainable process that minimizes emissions and waste. With over 45 years of expertise in the polyurethane sector, Polylabs benefits from a strategic partnership with the Institute of Wood Chemistry of Latvia. Its distribution channels extend across Germany, Austria, Switzerland, Poland, Scandinavia, and the United States, positioning the company to meet the increasing demand for eco-friendly construction materials.

HansaMatrix

Venture Round in 2015
HansaMatrix operates as an original design manufacturer (ODM) specializing in the development and 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 provides customizable manufacturing processes, which encompass prototyping, printed circuit board assembly, and precise mechanical part manufacturing. This approach allows HansaMatrix to ensure efficient production while adhering to international quality standards. By focusing on achieving design goals for its clients, the company aims to deliver high-value-added electronics products and seeks to command a premium for successful product designs.

BaltuVet

Debt Financing in 2015
BaltuVetis a veterinary product and equipment wholesaler based in Latvia.

Grobina

Debt Financing in 2015
A/S Grobina is a joint stock company based in Liepaja, Latvia, specializing in fur farming, particularly minks, for fur production. Established in 1960, the company cultivates various shades of natural mink furs and also produces feed for farm animals. Grobina serves the Latvian market with its range of fur offerings, contributing to the local fur industry.

Grobina

Venture Round in 2015
A/S Grobina is a joint stock company based in Liepaja, Latvia, specializing in fur farming, particularly minks, for fur production. Established in 1960, the company cultivates various shades of natural mink furs and also produces feed for farm animals. Grobina serves the Latvian market with its range of fur offerings, contributing to the local fur industry.

LOR Klīnika

Venture Round in 2015
LOR Klinika is a health institution that specializes in diagnosis and treatment of ear, neck and nose. It provides health care services for children and adults through the development of a client-centered medical and medical education center.

HomeTV PRO

Venture Round in 2015
HomeTV Pro is a Latvia-based telecommunications company. The company manufactures hardware and develops in-house software products.

AirDog

Seed Round in 2015
AirDog SIA is a company based in Riga, Latvia, that specializes in the design and manufacturing of airborne drones, particularly aimed at action sports enthusiasts and professionals. Established in 2012, the company is known for its flagship product, the AirDog, a foldable quadcopter that autonomously captures video by following a user wearing the AirLeash, a wearable tracking device. The AirDog is engineered for ease of transport and storage, protecting its components during travel. It features advanced motion prediction technologies and tracking algorithms that ensure precise camera control, allowing the user to remain centered in the shot without manual operation. As of May 2020, AirDog operates as a subsidiary of Alarm.com Holdings, Inc.

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 SIA operates a global trading platform that specializes in providing research and development chemical compounds to the scientific community, particularly biotech researchers. Founded in 2006 and headquartered in Riga, Latvia, the company aims to streamline the drug discovery process by managing the procurement of screening compounds and building blocks. MolPort offers a range of services, including compound sourcing, sample reformatting, package consolidation, and customs clearance, which allows researchers to focus on their scientific work rather than the complexities of order fulfillment. By facilitating access to a vast database of commercial compounds from multiple suppliers, MolPort plays a crucial role in enhancing the efficiency of drug discovery efforts.

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.

Cannelle

Funding Round in 2014
Cannelle Bakery brand is created for a lifelong and busy city dweller who wants to live healthy, but does not want to give up comfort, is open to new ideas and wants to get to know the world. Cannelle Bakery Ltd. develops and produces baked products. It offers breads, pastries, and biscuits, as well as frozen products. The company sells its products through store bakeries to customers in Latvia. Cannelle Bakery Ltd. was founded in 1973 and is based in Saldus, Latvia.

Tepix

Venture Round in 2014
SIA TEPIX offers changeable carpet lease and exchange services. The company is based in Riga, Latvia. As of July 1, 2020, SIA TEPIX operates as a subsidiary of SIA Lindstrom.

Latgales Granulas

Seed Round in 2014
Latgales Granulas producing high quality ENplus A1 wooden pellets.

Arsenal Industrial

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 offers high quality natural skin care and lifestyle products with seabuckthorn energy. Bio2You combines the healing energy of nature with the wisdom of science. The world is full of wonders capable of making us falling in love with life and grasping it with all our heart. Living it and fulfilling dream after dream. The creators of Bio2You, are delighted that we have the opportunity to share one of them – sea buckthorn and its force of nature. The company is continuously improving the product learning from latest innovations.

PolyLabs

Seed Round in 2014
PolyLabs is an innovative chemical company specializing in the production of bio-based polyols for the polyurethane industry. These polyols serve as raw materials for rigid polyurethane foams used in thermal insulation and spray foam applications. PolyLabs caters to polyurethane systems houses seeking to diversify their product offerings with affordable bio-based alternatives. The company addresses challenges faced by polyurethane producers, such as price stability and environmental concerns arising from reliance on crude oil. By providing high-quality bio polyols at competitive prices, Polylabs enables its clients to participate in the growing green market. The bio polyols, derived from renewable resources like rapeseed and tall oil, are manufactured through a sustainable process that minimizes emissions and waste. With over 45 years of expertise in the polyurethane sector, Polylabs benefits from a strategic partnership with the Institute of Wood Chemistry of Latvia. Its distribution channels extend across Germany, Austria, Switzerland, Poland, Scandinavia, and the United States, positioning the company to meet the increasing demand for eco-friendly construction materials.

Mailigen

Seed Round in 2014
Mailigen Limited offers a web-based email marketing platform designed for small to medium-sized businesses, organizations, and individuals. Founded in 2011 and based in Central, Hong Kong, Mailigen provides a user-friendly solution that integrates email and SMS marketing. The platform includes features such as a WYSIWYG editor, pre-designed templates, progressive segmentation, autoresponders, and real-time analytics, all available in a single plan. Mailigen also supports dynamic RSS feeds and integrates with popular e-commerce platforms like Shopify and Magento. The company serves various industries, including education, entertainment, health, and retail, making it a versatile option for diverse marketing needs. As a subsidiary of Pipedrive Inc., Mailigen emphasizes cost-effectiveness, with plans starting at just 7 Euros per month, and offers customer support through multiple channels.

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 SIA operates a global trading platform that specializes in providing research and development chemical compounds to the scientific community, particularly biotech researchers. Founded in 2006 and headquartered in Riga, Latvia, the company aims to streamline the drug discovery process by managing the procurement of screening compounds and building blocks. MolPort offers a range of services, including compound sourcing, sample reformatting, package consolidation, and customs clearance, which allows researchers to focus on their scientific work rather than the complexities of order fulfillment. By facilitating access to a vast database of commercial compounds from multiple suppliers, MolPort plays a crucial role in enhancing the efficiency of drug discovery efforts.
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