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

Past deals in Latvia

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.

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.

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.

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.

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.

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.

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.
Spot something off? Help us improve by flagging any incorrect or outdated information. Just email us at support@teaserclub.com. Your feedback is most welcome.