Fil Rouge Capital (FRC)
VC Fund
Zagreb, Croatia
Fil Rouge Capital (FRC) is a VC fund in Zagreb focused on Software and Information Technology. Fil Rouge Capital (FRC) invests in early stage businesses from angel investment, seed, VC and Series A rounds through a combination of equity and debt structures.FRC’s approach is to target investments that complement the skills and experience of its Founders so that they can bring more than just capital to help a business grow. Both FRC’sFounders have a core knowledge of technology, services, and an entrepreneurial history that they can bring to the benefit of an investment. FRC is Europe-centric, and with a base in Ljubljana, Slovenia, there is an additional focus on Central and Eastern Europe, Austria and Southern Germany. On an opportunistic basis FRC will look at deals throughout Europe and also the United States. The Founders are well-connected to accelerators in Central Europe and in Silicon Valley.
- Total investments:
- 169
- Last investment:
- Lead investor:
- 35%
- Fund size:
- $51M
- Last fund:
Last updated:
For AI agents: llms.txt
Industries Fil Rouge Capital (FRC) invests in
Stages Fil Rouge Capital (FRC) invests in
Countries Fil Rouge Capital (FRC) invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
| See all 9 contacts → | |||
Round size
- Seed
- $50k–$1.2M
- Pre-Seed
- $55k–$345k
Investment Focus
Industry
- Software 28 (17%)
- Information Technology 23 (14%)
- SaaS 10 (6%)
- FinTech 9 (5%)
- E-Commerce 9 (5%)
Stage
- Seed 67 (40%)
- Pre-Seed 22 (13%)
- Funding Round 8 (5%)
- Series A 4 (2%)
- Post-IPO Equity 1 (1%)
Country
- Croatia 59 (35%)
- Slovenia 9 (5%)
- United Kingdom 7 (4%)
- United States 6 (4%)
- Poland 3 (2%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Ales Pustovrh
Founder and Partner
|
Founder and Partner | Total investments: 1 | Find email | |
Julien Coustaury
Founding Partner
|
Founding Partner | Total investments: 13 | Find email | |
Aleksandra Faust
Managing partner
|
Managing partner | Total investments: 0 | Find email | |
Ana Bognar
Operations Director at Fil Rouge Capital
|
Operations Director at Fil Rouge Capital | Total investments: 0 | Find email | |
Mili Ibrulj
Principal
|
Principal | Total investments: 0 | Find email | |
| See all 9 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
FaceUp
|
FaceUp provides whistleblower protection laws, data protection, anonymity, protect companies reputation, edit forms, tweak categories, whistleblowing software, and design an organizational structure services. | $5M / Series A / May 19, 2026 | |
DDD Invoices
|
At DDD Invoices we help internet software companies with invoicing in their software (ERPs, CRMs, invoicing & accounting softwares, B2B SaaS, marketplaces, mobility providers etc.) to comply with global invoicing, e-invoicing & fiscalization regulations, so they can send, receive & store invoices globally.With additional set of APIswe also help, start-ups to shorten their time to market with embedded UI options and creating their own invoicing software in just a couple of days. | $1.5M / Seed / May 14, 2026 | |
Synaps
|
Synaps is the internet's fastest architectural design platform!Inspired by transformative platforms like Figma and Miro, we envisioned a new era for architects—a world where simplicity and collaboration is at the epicenter of the design process.With Synaps, users can draft plans, collaborate in real time and share their designs with aglobal community of architects. | $3.6M / Pre-Seed / Apr 30, 2026 | |
XO Life
|
XO-Life.com is an online destination center. That provides services includes digital treatment monitoring and patient feedback R&D, marketing and sales. That offers services for Patient Insights, information exchange between patients and pharma, treatments and indications. | $4.7M / Venture - Series Unknown / Apr 14, 2026 | |
eYou.Social
|
eYou.Social operates as a social media start-up. | $345.2K / Pre-Seed / Mar 17, 2026 | |
The Open Machine
|
Open Machine is an AI research company developing the next generation of neural network architecture. We believe the current approach to AI — storing billions of frozen parameters and hoping they generalize - has fundamental limits that cannot be solved by making models bigger. Hallucination, opacity, and unsustainable training costs are notengineering problems. They are architectural ones.We are solving them at the foundation. Our research introduces a new computational paradigm where AI systems construct their own reasoning machinery in real time from building blocks, rather than relying on static weights. This produces AI that is more efficient, inherently more honest, structurally interpretable, and adaptable to new domains without forgetting what it already knows.Our mission is to make AI trustworthy enough for the industries that need it most - healthcare, finance, legal, and government - while making it affordable enough that building frontier AI is no longer exclusive to trillion-dollar corporations. Open Machine is headquartered in the United States with research operations in Zagreb, Croatia. Founded by researchers, funded by conviction, built from first principles. | $174.1K / Seed / Dec 01, 2025 | |
HyperBunker
|
HyperBunker started from InfoLAB, the leading European Data Recovery & Security Lab. | $928.3K / Seed / Oct 14, 2025 | |
HEU
|
HEU is a legaltech company that automates and manages legal documents and allows users to edit and share them. | $1.3M / Seed / Jul 10, 2025 | |
Compass AI
|
Compass AI is a financial management tool with AI at its core.Business owners know that the more your team grows, the harder it becomes to follow expenses. Compass AI solves this problem for you by keeping and automatically organizing all transactions.Ask Compass AI a question and it will generate a graphic based on your financial data. Set upnotifications for incoming and outgoing payments and create potential future scenarios with the help of AI.Provide meaning to your business finances with Compass AI. | $569.4K / Seed / May 26, 2025 | |
|
The Open Machine
|
Open Machine is an AI research company developing the next generation of neural network architecture. We believe the current approach to AI — storing billions of frozen parameters and hoping they generalize - has fundamental limits that cannot be solved by making models bigger. Hallucination, opacity, and unsustainable training costs are notengineering problems. They are architectural ones.We are solving them at the foundation. Our research introduces a new computational paradigm where AI systems construct their own reasoning machinery in real time from building blocks, rather than relying on static weights. This produces AI that is more efficient, inherently more honest, structurally interpretable, and adaptable to new domains without forgetting what it already knows.Our mission is to make AI trustworthy enough for the industries that need it most - healthcare, finance, legal, and government - while making it affordable enough that building frontier AI is no longer exclusive to trillion-dollar corporations. Open Machine is headquartered in the United States with research operations in Zagreb, Croatia. Founded by researchers, funded by conviction, built from first principles. | $100K / Pre-Seed / Mar 23, 2025 | |
| See all 169 investments → | |||
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FAQ
What does Fil Rouge Capital (FRC) invest in?
Fil Rouge Capital (FRC) invests primarily in Software, Information Technology and SaaS startups, most often at Seed and Pre-Seed stage. Most of the 169 investments tracked by Shizune back companies in Croatia. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What is Fil Rouge Capital (FRC)'s check size?
Fil Rouge Capital (FRC) typically joins rounds of $50k–$1.2M at Seed and $55k–$345k at Pre-Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Fil Rouge Capital (FRC) participates in.
How do I contact Fil Rouge Capital (FRC)?
Public channels for Fil Rouge Capital (FRC) include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Fil Rouge Capital (FRC)?
The team at Fil Rouge Capital (FRC) includes Ales Pustovrh (Founder and Partner), Julien Coustaury (Founding Partner) and Aleksandra Faust (Managing partner), among 9 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.
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 Sep 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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