# Audrius Milukas

> Audrius Milukas is a seed investor at Open Circle Capital backing Software and E-Commerce. See 6 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Open Circle Capital](https://shizune.co/investors/profile/open-circle-capital)
- Total investments: 6
- Last investment: May 2025
- Lead investor: 83%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/audrius-milukas/
- Website: https://www.opencirclecapital.lt/

Audrius Milukas is a serial entrepreneur as well as seasoned venture capital, fundraising and banking professional with over 18 years of leadership experience across various tech-driven industries. With more than 7 years of experience in VC and startups, he has participated in more than 45 early stage investments in 20 portfolio companies wherehe currently holds 8 seats at the board of directors. He has experience successfully attracting over €200 million in venture capital and debt. Also Audrius is a well-known figure in the startup ecosystem in Lithuania for connecting investors, entrepreneurs and startup founders. He is a Co-founder of the Lithuanian Business Angels Network (LITBAN).

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $329k–$3.4M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 2 | 33% |
| E-Commerce | 2 | 33% |
| SaaS | 1 | 17% |
| AgTech | 1 | 17% |
| Beauty | 1 | 17% |

18 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 3 | 50% |
| Pre-Seed | 1 | 17% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Lithuania | 3 | 50% |
| Latvia | 1 | 17% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Sort A Brick | We use computer vision, AI, and robotics to turn used toy building bricks into an affordable, sustainable, and enjoyable adventure for Brick Fans everywhere. | $1.7M | Pre-Seed | May 01, 2025 |  |
| Frontu | Frontu is a flexible and effective tool for managing tasks, processes and employees.Made for businesses with a mobile workforce, it connects your office employees with your field service representatives in real time:your field service representative uses a personalized app on his Android device your office employee manages the process throughthe web portal. | $646.4K | Seed | Aug 24, 2021 |  |
| Smart Vision | Smart Vision is based in Riga, Latvia. It is an online e-commerce store that sells eye protection lenses, glasses, and sunglasses for men and women, as well as providing delivery services. | $2.2M | Seed | Jan 01, 2021 |  |
| Ars Ingenii | Ars Ingenii presents a groundbreaking logistics and fulfillment platform, powered by in-house developed hardware and software technologies. That includes patented robotized material handling solutions such as Micro Distribution Centers and advanced fulfillment center automation tailored specifically for efficient e-commerce logistics. By seamlesslyintegrating technologies, we streamline e-commerce logistics, ensuring swift delivery from the origin to the consumer's doorstep. | $3.3M | Seed | Jun 01, 2020 |  |
| Frontu | Frontu is a flexible and effective tool for managing tasks, processes and employees.Made for businesses with a mobile workforce, it connects your office employees with your field service representatives in real time:your field service representative uses a personalized app on his Android device your office employee manages the process throughthe web portal. | $330.9K | Seed | Jan 30, 2020 |  |
| Frontu | Frontu is a flexible and effective tool for managing tasks, processes and employees.Made for businesses with a mobile workforce, it connects your office employees with your field service representatives in real time:your field service representative uses a personalized app on his Android device your office employee manages the process throughthe web portal. | $329K | Seed | Sep 10, 2018 |  |

6 of 6 investments shown.

## Co-investors
- [iTo](https://shizune.co/investors/profile/ito-77fa) — VC Fund, 3 deals together
- [FIRSTPICK](https://shizune.co/investors/profile/firstpick) — VC Fund, 1 deal together
- [LT Capital](https://shizune.co/investors/profile/lt-capital-5861) — VC Fund, 1 deal together
- [NGL](https://shizune.co/investors/profile/ngl-ff69) — VC Fund, 1 deal together
- [TELE2](https://shizune.co/investors/profile/tele2-a9c1) — VC Fund, 1 deal together

## About Open Circle Capital

VC Fund · Vilnius, Lithuania

Our Investment FocusWe are interested in technology companies in the fields of ICT, robotics and high-tech. We favor teams of professionals comprised or led by serial entrepreneurs with past growth, fundraising and/or exiting experience. We are looking for product building companies that would be high-potential, fast-growth, and ready toconquer foreign markets. Best time to talk us is just after first revenues in the company.Our investment approach1. It all starts with a conversation where we learn about you and your ambition. 2. In the space of few meetings we are targeting to decide whether to look further. 3. We'll discuss particular terms, ask for more information, and analyse further. 4. The legal part - we know everyone loves it, and, finally, we join your venture.

1 contacts available at Open Circle Capital.

| Name | Title | Profile |
| --- | --- | --- |
| Audrius Milukas | Founder and CEO | https://shizune.co/investors/profile/audrius-milukas-27bd |

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## FAQ

### What does Audrius Milukas invest in?

Audrius Milukas invests primarily in Software, E-Commerce and SaaS startups, most often at Seed and Pre-Seed stage. Most of the 6 investments tracked by Shizune back companies in Lithuania. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Audrius Milukas's check size?

Audrius Milukas typically joins rounds of $329k–$3.4M at Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Audrius Milukas participates in.

### When did Audrius Milukas last invest?

The most recent investment recorded for Audrius Milukas closed in May 2025. Shizune tracks 6 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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