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.
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Past deals in Latvia
Mintos
Debt Financing in 2024
Founded in 2014, Mintos is Europe's leading investment platform facilitating peer-to-peer lending. It connects consumers seeking affordable loans with investors looking for attractive returns. With over €600 million in assets under management and more than 500,000 registered users, Mintos offers automated and manual investment strategies, enabling users to build diversified portfolios.
Purified
Seed Round in 2017
Purified is a Latvia-based manufacturer of nutritional supplements, specializing in chocolate-based products. The company collaborates with medical professionals and scientists to produce high-quality black chocolate aimed at addressing health concerns. Purified's offerings are particularly targeted at patients with cardiovascular, neural, and immune system disorders, reflecting a commitment to health and wellness through innovative dietary solutions.
el Machete
Venture Round in 2016
El Machete is a fast food chain that specializes in offering a diverse range of Mexican cuisine, including burritos, quesadillas, tacos, and wraps. Based in Riga, Latvia, the restaurant emphasizes quality and variety, catering to both meat lovers and vegetarians with its selection of delicious dishes. In addition to its food offerings, El Machete also serves local beers, enhancing the dining experience for its customers.
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
Founded in 2012, Sonarworks develops software that calibrates sound for headphones and speakers. Its products include Reference 4 (for studios), True-Fi (for listeners), and SoundID technology, which personalizes audio experiences based on individual hearing preferences. Used by professionals and consumers alike, the company's software improves sound quality across various devices.
MyClinic Riga
Convertible Note in 2016
MyClinic Riga is a healthcare provider based in Riga, Latvia. The clinic offers a comprehensive range of services including medical consultations, diagnostics, surgery, infertility treatments, and complex medical procedures. MyClinic Riga is staffed by a team of experienced doctors who utilize the latest evidence-based diagnostic and treatment techniques. The company's primary goal is to provide high-quality, patient-oriented care aimed at improving each patient’s health and well-being.
BaltuVet
Debt Financing in 2015
BaltuVet is a Latvian veterinary product and equipment wholesaler and distributor serving farms, veterinarians, veterinary clinics, and pharmacies. The company sells livestock and veterinary products, including medicines, nutritional supplements, disinfectants, and other care items, with a focus on affordability and fast delivery.
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, established in Riga, Latvia, operates as a specialized medical clinic focusing on the diagnosis and treatment of ear, nose, and throat conditions. The company offers healthcare services to both children and adults, prioritizing a patient-centric approach through its comprehensive medical care and educational facilities.
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 designed to enhance the delivery of over-the-top video content across various devices within a closed network. HomeTV Pro specializes in system integration, offering features such as live TV recording, which empowers clients to optimize their IT infrastructure for improved operational 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 of high-quality natural skin care and lifestyle products based in Riga, Latvia. The company specializes in personal care items that harness the healing properties of sea buckthorn, combining nature's benefits with scientific wisdom. Bio2You's product range includes skin care, oral and hair care products, as well as bath and shower essentials. In addition to its branded offerings, the company provides private label and contract manufacturing services, allowing customers to access all-natural products at competitive prices. Bio2You is committed to continuous improvement and innovation, ensuring that its products meet the evolving needs of consumers.
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