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Top 15 Internet VC Funds & Investors in Latvia (June 2026)

The most active venture capital funds investing in Latvia Internet startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Latvia Internet startup companies. Find investors to raise a Pre-Seed, Seed or Debt Financing round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Imprimatur Capital Fund Management
VC Fund
6 Latvia, United States, United Kingdom Seed, Debt Financing Software, Information Technology, Apps $63k–$549k
ZGI Capital
VC Fund
2 Latvia, Estonia Seed, Debt Financing Manufacturing, Machinery Manufacturing, Retail $55k–$981k
European regional development fund (ERDF)
VC Fund
2 United Kingdom, Germany, France Grant, Pre-Seed Software, Information Technology, Biotechnology $27k–$2.2M
AdFirst.vc
VC Fund
1 United States, Russian Federation, Latvia Seed, Pre-Seed, Series A FinTech, Internet, Software $100k–$11M
Vesna Investment
VC Fund
1 Latvia EdTech, Internet, Education
Expansion Capital
VC Fund
1 Latvia, United States, Norway Seed, Debt Financing Manufacturing, Logistics, Transportation $125k–$713k
Moscow Seed Fund
VC Fund
1 Russian Federation, United States, Israel Seed, Debt Financing Software, Advertising, Information Technology $40k–$363k
Mamba
VC Fund
1 Latvia Seed Mobile Apps, Social Media, Social Network
Envac Group
VC Fund
1 Latvia Pre-Seed Waste Management, Internet of Things
VK (ex. Mail.Ru Group)
VC Fund
1 Russian Federation, United States, Cyprus Seed, Series A Social Media, Education, Mobile Apps $500k–$11M
New Nordic Ventures
VC Fund
1 Latvia, Estonia, Georgia Pre-Seed, Seed Software, Computer Vision, Machine Learning $165k–$1.1M
Amazon Web Services
VC Fund
1 United States, Brazil, Lebanon Grant, Pre-Seed Software, Artificial Intelligence, Information Technology $4k–$400k
FlyCap
VC Fund
1 Latvia, Estonia, The Netherlands Seed, Debt Financing Health Care, Rental, Medical $55k–$2.9M
Almaz Capital
VC Fund
1 United States, Russian Federation, Germany Series A, Seed, Series B Software, Mobile, Internet $1.1M–$58M
ZEMU Venture Capital
VC Fund
1 United States, Hong Kong, The Netherlands Seed, Pre-Seed, Series A Software, Mobile, FinTech $600k–$7.5M
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Investor list

Imprimatur Capital Fund Management
VC Fund · Riga, Riga, Latvia · 6 investments in Latvia Internet startups

Imprimatur Capital Fund Management is a venture capital firm focusing on high-technology at an early stage in its commercial development. We invest in start-up technology businesses which are based on innovative intellectual property, are led by strong teams and have high international growth potential.Imprimatur Capital Fund Management, based inLatvia, manages seed and start-up funds with investors including the Latvian Guarantee Agency, other institutional investors and some private investors. The company source investment opportunities primarily from the Baltic/Nordic/Russia region.Imprimatur Capital Fund Management is a partner firm of Imprimatur Capital Ltd, headquartered in London and with investment operations in Europe, Russia, Asia Pacific, Latin America and the US.

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Investment focus

  • Industry: Software, Information Technology, Apps
  • Stage:Seed, Debt Financing
  • Geography: Latvia, United States, United Kingdom

Investor stats

  • Total investments: 81
  • Round size: Seed $131k–$549k; Debt Financing $63k–$70k
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — last raise in 2010

Portfolio highlights

  • Axial3D — Leading the way with the latest 3D imaging, models, and devices
  • afriQloud — AfriQloud provides a white-labeled cloud computing solution to telecom operators, internet service providers, system integrators, and managed information technology service providers.
  • Sonarworks — SoundID Reference software calibrates your speakers and studio headphones, so you can trust that every mix will translate.
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ZGI Capital
VC Fund · Riga, Riga, Latvia · 2 investments in Latvia Internet startups

ZGI Capital is the fund management company that manages "ZGI fund”, that was founded to support entrepreneurs lacking start-up capital for their business. The total amount of assets available for venture capital investments is of EUR 7.4M. Combined with bank financing, this will allow to finance investment projects with total assets of up toEUR 30M. The fund acts on behalf of various investors including the State.

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Investment focus

  • Industry: Manufacturing, Machinery Manufacturing, Retail
  • Stage:Seed, Debt Financing
  • Geography: Latvia, Estonia

Investor stats

  • Total investments: 25
  • Round size: Seed $55k–$896k; Debt Financing $110k–$981k
  • Lead/follow: 92% lead, 8% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • eAgronom — We enable companies to achieve their sustainability goals while supporting farmers in generating additional revenue, improving soil quality, and accessing better financing.
  • KOOL Latvija — "KOOL Latvija" is a new concept gas station created in Latvia, which at the same time is also a convenient fast shopping place.
  • Bioreactors.net — Biotechnical center is an innovative company and we provide solutions for industrial biotechnology processes, bioreactor manufacturing and industrial automation. We manufacture bioreactors for laboratory, pilot and industrial scale.
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European regional development fund (ERDF)
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Latvia Internet startups

The European Regional Development Fund (ERDF) aims to improve the European Union's economic, social, and territorial cohesion by resolving imbalances across its various regions. ERDF funds initiatives for which the European Commission and national and regional governments in member countries share responsibility. Each member state'sgovernment decides which initiatives to support and is responsible for their continued supervision.

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Investment focus

  • Industry: Software, Information Technology, Biotechnology
  • Stage:Grant, Pre-Seed
  • Geography: United Kingdom, Germany, France

Investor stats

  • Total investments: 74
  • Round size: Grant $27k–$2.2M; Pre-Seed $44k–$1.3M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Losanje — Losanje has a brand and an upcycling workshop that gives second-hand and unsold completed apparel and textiles a second life. Its goal is to create an innovative manufacturing chain that will allow for the first time the industrialization of upcycling, as well as to implement the most credible solution, both ecologically and economically.
  • PulmoBiomed — PulmoBioMed Ltd develops innovative breath-based sampling, enabling rapid, non-invasive detection of respiratory diseases for improved global healthcare.
  • Knock Technology — The world's simplest video chat app: Improves mental health and boosts innovation. It's a secure, cost effective and peer-to-peer telecoms solution for everyone.
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AdFirst.vc
VC Fund · Limassol, Limassol, Cyprus · 1 investments in Latvia Internet startups

AdFirst.vc is a venture capital firm designed to co-invest with other VCs in early and expansion stage start-ups. They perform Marketing Due Diligence ads tests for start-ups and help the investor evaluate the reachable audience, check the marketing competencies of the team, and reduce the cost of attracting customers. Testing allows to confirm thecompany's capitalization and eliminate marketing risks. In the future, they oversee the marketing strategy of the project in order to control KPI.

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Investment focus

  • Industry: FinTech, Internet, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Russian Federation, Latvia

Investor stats

  • Total investments: 12
  • Round size: Seed $100k–$11M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Adapty — The all-in-one service for in-app subscriptions. Develop, optimize and grow apps with iOS, Android, React Native, Flutter, Unity and Web support.
  • Synchronization — Synchronization is an online education platform.
  • Akademiya Peremen — Akademiya Peremen is an educational platform that focuses on the life style segment of health, beauty, style, and psychology.
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Vesna Investment
VC Fund · Moscow, Moscow City, Russian Federation · 1 investments in Latvia Internet startups

Vesna Investment offers financing for internet start-ups. During the post-investment stage Vesna Investment will become an active partner, providing support and experience.

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Investment focus

  • Industry: EdTech, Internet, Education
  • Geography: Latvia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • YaClass — YaClass is an edutech startup offering K12 online programs in math, sciences and languages, as well as preparation tests for state exams.
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Expansion Capital
VC Fund · Riga, Riga, Latvia · 1 investments in Latvia Internet startups

Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies.

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Investment focus

  • Industry: Manufacturing, Logistics, Transportation
  • Stage:Seed, Debt Financing
  • Geography: Latvia, United States, Norway

Investor stats

  • Total investments: 40
  • Round size: Seed $200k–$713k; Debt Financing $125k–$246k
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Flirtu — Flirtu is an app for dating on Telegram that helps users find their perfect match.
  • Willow Wealth — Willow Wealth is an alternative investment platform focused on generating income streams for investors. Get exclusive access to private market investments.
  • FIS.solutions — Loan Management System | Loan Servicing Software | Lending Software. Instalment loans, mortgages, car leasing & rentals, credit line, business loans, factoring
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Moscow Seed Fund
VC Fund · Moscow, Moscow City, Russian Federation · 1 investments in Latvia Internet startups

The Fund for the Promotion of Venture Investment in Small Enterprises in the Scientific and Technical Sphere of Moscow was established by the Department of Entrepreneurship and Innovation Policy of Moscow.

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Investment focus

  • Industry: Software, Advertising, Information Technology
  • Stage:Seed, Debt Financing
  • Geography: Russian Federation, United States, Israel

Investor stats

  • Total investments: 84
  • Round size: Seed $40k–$363k; Debt Financing $80k–$267k
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Vestem — Vestem is a biotechnology company that develops new bioveterinary cell therapies for regenerative therapy and next-generation pharmaceuticals for the treatment of pets.
  • Picvario — DAM systems allow centralizing, systematizing, searching, and sharing all types of digital files (images, video, audio, etc.). Picvario platform is a reliable storage of the files. Flexible management. API Integration
  • Qummy — Qummy produces and freezes dishes for restaurants using its patented Smart Ice technology, which preserves the dish's nutritional and organoleptic features.
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Mamba
VC Fund · Moscow, Moscow City, Russian Federation · 1 investments in Latvia Internet startups

Mamba is the number one Russian online dating service, which cooperates with major portals including Mail.Ru, Rambler and MSN.com and over 30,000 others. The company’s database holds over 18.6 million registered users, over 40% of which are active. Mamba primarily targets customers in Russia and the CIS and is also going to launch dating servicesabroad. The business model is centered on the “pay as you go” principle: the users are more inclined to pay for additional instant low cost services, rather than bigger monthly subscription. Company’s billing system is one of the largest in the world with more than 40 possible ways to pay for Mamba’s services. According to various estimates, Mamba controls about 85% of the market.

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Investment focus

  • Industry: Mobile Apps, Social Media, Social Network
  • Stage:Seed
  • Geography: Latvia

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • F3 — F3 is a social discovery app to make new friends and communicate with existing ones.
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Envac Group
VC Fund · Stockholm, Stockholms Lan, Sweden · 1 investments in Latvia Internet startups

Envac is one of the most innovative players in the global waste collection industry and inventor of the pneumatic waste collection system.

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Investment focus

  • Industry: Waste Management, Internet of Things
  • Stage:Pre-Seed
  • Geography: Latvia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • The Littery — The Littery is an environmental services company that recycles plastic pollution into e-lottery tickets.The company uses IoT and Computer vision to reframe litter into e-lottery tickets that cause an instant change of attitude due to the innate human optimism bias resulting in an immediate and lasting behavioral change. Its breakthrough idea hasthe potential to revolutionize the littering and household packaging collection markets with its superior solution by motivating citizens to keep their cities clean by themselves. Cities that partner with The Littery experience cleaner communities with less litter and happier citizens at a lower cost.The Riga, Riga-located company was founded by Michael Manniche in 2019.
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VK (ex. Mail.Ru Group)
VC Fund · Leningradskiy, Chukot, Russian Federation · 1 investments in Latvia Internet startups

Mail.ru Group was founded by Yuri Milner and is the largest Internet company in the Russian-speaking world. It is one of the largest Internet companies in Russia, and the world's seventh largest Internet business in terms of page views. Mail.ru Group operates two of the three largest Russian language social networking sites(Odnoklassniki.ru and Moi Mir@Mail.Ru), the two largest instant messaging networks in Russia (ICQ and Agent), Russia's leading email service, Russia's second largest Internet portal and Russia's largest online games company.Mail also holds strategic equity stakes of 32.49% in vKontakte, Russia's largest social networking site, and 25.09% in QIWI, formerly OE Investments, one of Russia's leading payment-processing companies. It also holds small minority stakes in Facebook, Zynga and Groupon.

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Investment focus

  • Industry: Social Media, Education, Mobile Apps
  • Stage:Seed, Series A
  • Geography: Russian Federation, United States, Cyprus

Investor stats

  • Total investments: 30
  • Round size: Seed $500k–$3.9M; Series A $1M–$11M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Magisto — Magisto online video editor is a fast & powerful video maker. Turn your photos and video clips into video stories with Magisto movie editor. Start free!
  • O2O Holdings — Formed by a JV between Sberbank and Mail.ru Group, provides an O2O services platform focusing on key areas of food and transportation.
  • AliExpress Russia — AliExpress Russia is a leading cross-border and domestic e-commerce platform in Russia.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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New Nordic Ventures
VC Fund · Riga, Riga, Latvia · 1 investments in Latvia Internet startups

NNV is a seed stage VC fund. We invest in B2B startups from CEE and CIS region and help them to expand internationally

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Investment focus

  • Industry: Software, Computer Vision, Machine Learning
  • Stage:Pre-Seed, Seed
  • Geography: Latvia, Estonia, Georgia

Investor stats

  • Total investments: 10
  • Round size: Seed $219k–$1.1M; Pre-Seed $165k–$600k
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • OHMYSYNT — AI-powered tool for businesses and creators, that alters videos in seconds using text prompts.
  • DrugCards — DrugCard - AI-powered pharmacovigilance tools & services for automated literature monitoring, regulatory intelligence and adverse events management.
  • Rapid Delivery Analytics — Digital shelf analytics for mobile-first grocery and convenience deliveries. Track pricing, visibility, availability, promotions, and competitor performance across rapid delivery platforms.
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Amazon Web Services
VC Fund · Seattle, Washington, United States · 1 investments in Latvia Internet startups

Amazon Web Services offers reliable, scalable, and inexpensive cloud computing services. Free to join, pay only for what you use.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Grant, Pre-Seed
  • Geography: United States, Brazil, Lebanon

Investor stats

  • Total investments: 141
  • Round size: Grant $6k–$400k; Pre-Seed $4k–$255k
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Alife Virtual — Alife Virtual Metaverse is a comprehensive platform, empowering you to create, trade, and thrive like never before! - Design Your Own World: Craft breathtaking virtual assets, from stunning landscapes to unique avatars. - Meet our AI Assistant! Get instant answers to any question. Chat in any language. Create scripts, textures, 3d objects, audio,video and so much more. - Local Coins: Built on robust, secure blockchain to ensure your assets and transactions are protected. - NFT Revolution: Mint NFTs effortlessly and sell them on our bustling marketplace. - User-Friendly Interface: Accessible and intuitive platform designed for both beginners and seasoned creators. - Vibrant Community: Join a thriving network of artists, developers, and entrepreneurs. Collaborate, learn, and grow together. - Support and Guidance: Round-the-clock customer service to assist you every step of the way. Embrace the future with Alife Virtual Metaverse Blockchain. Claim your space in the digital cosmos—where innovation meets opportunity. Learn. Create. Trade. Join Alife Today!
  • ADRA International — ADRA International is a global humanitarian organization affiliated with the Seventh-day Adventist Church, operating in more than 120 countries. It focuses on various development and relief efforts aimed at fighting poverty and providing disaster relief. ADRA International works through local offices and partnerships to deliver culturally relevantprograms and emergency aid, including food, shelter, and medical care in times of crisis or natural disasters. The organization also supports sustainable development projects that improve the quality of life for individuals and communities, emphasizing the empowerment of women and access to education. Additionally, ADRA offers internship programs like ADRA Bridge, which allows students to contribute to meaningful projects worldwide.
  • The Alignment Project — The Alignment Project is dedicated to accelerating progress in AI alignment research. TAP aim is to promote the development of advanced AI systems that are safe, reliable, and beneficial to society.
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FlyCap
VC Fund · Riga, Riga, Latvia · 1 investments in Latvia Internet startups

FlyCap AIF is a Venture Capital Fund of total size of 15.75 MEUR. The Fund provides growth capital for Latvia based SME’s in a form of investments in equity and mezzanine capital.

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Investment focus

  • Industry: Health Care, Rental, Medical
  • Stage:Seed, Debt Financing
  • Geography: Latvia, Estonia, The Netherlands

Investor stats

  • Total investments: 29
  • Round size: Seed $55k–$2.9M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $18M in 2013

Portfolio highlights

  • Tapcore — Tapcore is the only solution on the market that enables mobile developers to monetize pirated copies of their apps through advertising. Established in 2015, we are a remote company with headquarters in the Netherlands. Currently we serve over 150 million ad requests daily (and counting!).
  • Purified — Purified is a nutritional supplement supplier.. It offers black chocolate produced by the best doctors in collaboration with scientists.
  • Elmo — In our mobility-focused operations, we wanted to optimize business and decrease environmental impact, so we created remote control technology to deliver cars.
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Almaz Capital
VC Fund · Portola Valley, California, United States · 1 investments in Latvia Internet startups

Almaz Capital is an international venture capital firm investing in early stage, capital efficient technology companies. A unique bridge fund headquartered in Silicon Valley, Almaz Capital connects Eastern European/former Soviet engineering and entrepreneurial talent to the U.S. market and helps build global businesses. The firm invests inhigh-growth sectors such as artificial intelligence and blockchain applications, data engineering, cybersecurity, industrial IoT, networking architecture and infrastructure. Its investors include Cisco, the European Bank for Reconstruction and Development (EBRD), and International Finance Corporation (IFC), a member of the World Bank Group. Founded in 2008, Almaz Capital has invested in over 30 portfolio companies and has had nine exits to date.

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Investment focus

  • Industry: Software, Mobile, Internet
  • Stage:Series A, Seed, Series B
  • Geography: United States, Russian Federation, Germany

Investor stats

  • Total investments: 105
  • Round size: Seed $1.1M–$5.4M; Series A $2M–$21M; Series B $2.8M–$58M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: May invest from a new fund soon — raised $300M in 2016

Portfolio highlights

  • Alcatraz AI — The Rock is an all-in-one touchless biometric access control device that combines facial biometrics, AI, and machine learning for top-notch security.
  • Dubformer — All-in-one tool: Go global effortlessly with monetization-ready dubbing that sounds like real humans. Cost-effective AI localization.
  • specter automation — Construction is the second least digitized sector in the world with 96% of all data being unused. Although detailed planning data is created upfront, a lack of suitable digital tools prevents its transfer to the construction site. SPECTER’s web-based construction management software uniquely incorporates the core components of constructionplanning, reducing the organizational burden on construction management and helping to meet project timelines and budgets.
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ZEMU Venture Capital
VC Fund · 1 investments in Latvia Internet startups

ZEMU Capital is dedicated to investing in decentralization, artificial intelligence, and ground-breaking technologies.

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Investment focus

  • Industry: Software, Mobile, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Hong Kong, The Netherlands

Investor stats

  • Total investments: 15
  • Round size: Seed $600k–$7.5M; Pre-Seed $600k–$1.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GPT360 — GPT360, your platform for integrating Web3 and Web2. We offer a super app with tools for Web3 project owners, including the Chaterium Network to boost community visibility and engagement, innovative AI solutions for news and moderation, and a hub for affiliate networks and marketing services. Our mission is to simplify the mass adoption ofcryptocurrency and blockchain by creating active, informed, and connected digital communities.
  • Stabble — stabble is a protocol revolutionizing liquidity pools by introducing protocol-managed and arbitrage pools. This allows stabble to tackle critical inefficiencies prevalent within Solana's decentralized exchanges.
  • Solidus Ai Tech — Solidus AI Tech provide access to artificial intelligence services to governmental authorities, megacorps, SME’s and professionals. It has constructed an environmentally friendly 8,000-square-foot high-performance computing (HPC) Data Centre in a highly secure European location. They are launching the world's first deflationary ArtificialIntelligence token (AITECH), which will be used as a payment gateway to license AIaaS, Blockchain-as-a-Service (BaaS), and rent HPC power through their Infrastructure-as-a-Service (IaaS) platform.
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Internet VC funding in Latvia at a glance

Stats across 8 deals from 8 investors.

8
investors
in Latvia Internet startups
8
deals
in Latvia Internet startups
$70k
median round
in Latvia Internet startups
13%
lead investors
lead at least one round
38%
Debt Financing
most common funding stage

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