# FlyCap

> FlyCap is a VC fund in Riga backing Health Care and Rental. See 30 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Riga, Latvia
- Total investments: 30
- Last investment: Sep 2024
- Lead investor: 40%
- Fund size: $18M
- Last fund: Aug 2013
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/5029088?trk=tyah&trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A5029088%2Cidx%3A2-1-2%2CtarId%3A1485280246834%2Ctas%3AFlyCap
- X (Twitter): https://twitter.com/flycaplv
- Website: http://flycap.lv/en
- Facebook: https://www.facebook.com/FlyCap.Fund

FlyCap is a VC fund in Riga focused on Health Care and Rental. 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.

## Contacts

5 contacts available for FlyCap. Shizune tracks 4 team members at FlyCap. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/flycap?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $55k–$2.9M |
| Debt Financing | $329k–$2.2M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 4 | 13% |
| Rental | 3 | 10% |
| Medical | 3 | 10% |
| Software | 3 | 10% |
| Manufacturing | 3 | 10% |

61 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Funding Round | 12 | 40% |
| Seed | 9 | 30% |
| Debt Financing | 3 | 10% |
| Pre-Seed | 1 | 3% |
| Series A | 1 | 3% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Latvia | 23 | 77% |
| Estonia | 1 | 3% |
| The Netherlands | 1 | 3% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Girts Milgravis | Partner | 0 | https://shizune.co/investors/profile/girts-milgravis |
| Janis Liepins | Partner | 2 | https://shizune.co/investors/profile/janis-liepins |
| Janis Skutelis | Partner | 9 | https://shizune.co/investors/profile/janis-skutelis |
| Olga Baumane | Financial analyst | 0 | https://shizune.co/investors/profile/olga-slivkina |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Mintos | Mintos is a platform that provides retail investors with an accessible way to build wealth through loan-based investments. Through their platform retail investors can invest in a diversified way in income-producing assets to build wealth in the long term. They implement environmental, social, and employee matters, respect for human rights,anti‐corruption, and anti‐bribery matters within their remuneration policy practices and other internal company documents. | $2.2M | Debt Financing | Sep 26, 2024 |  |
| Elmo | Elmo Remote is a state-of-the-art tool, enables to deliver vehicles directly to customers or relocate to the location where the customers are required. | $2.9M | Seed | Apr 26, 2023 |  |
| 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!). | $274K | Seed | Jun 08, 2017 |  |
| Purified | Purified is a nutritional supplement supplier.. It offers black chocolate produced by the best doctors in collaboration with scientists. | $274K | Seed | Jan 10, 2017 |  |
| El Machete | El Machete is a Mexican fast food chain that offers burritos, quesedilla, tacos,and local beers. |  |  | Oct 03, 2016 |  |
| NMS Laboratories | 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. |  |  | Sep 01, 2016 |  |
| Sonarworks | Sonarworks is a deep-tech audio company that delivers personalized sound experiences. Its SoundID technology measures and digitally tunes sound devices to match individual hearing preferences, enhancing audio across various devices. Widely used in recording studios and by audio engineers, the technology enables high-precision sound for consumersand professionals alike. | $768K |  | Jul 26, 2016 |  |
| Airdog | We build smart robots that bring unprecedented value to its owners. |  | Series A | Jul 01, 2016 |  |
| HansaMatrix | HansaMatrix is using original design manufacturing (ODM) business model. When developing product or solution for its customers their company works as much as necessary to achieve its design goals. HansaMatrix seekws to receive premium for successful product designs. | $2.6M |  | Jun 08, 2016 |  |
| MyClinic Riga | MyClinic Riga offers a full range of services from medical consultation and diagnostics to surgery, infertility treatment and complex medical procedures.It is composed of a professional, experienced team of doctors who use latest evidence-based techniques of diagnostics and treatment. Our goal is to offer quality and patient-oriented care forthe benefit of each patient’s health and well-being. |  | Convertible Note | Mar 05, 2016 |  |

10 of 30 investments shown.

## Co-investors
- [Imprimatur Capital Fund Management](https://shizune.co/investors/profile/imprimatur-capital) — VC Fund, 4 deals together
- [Base Ventures](https://shizune.co/investors/profile/base-vc) — VC Fund, 2 deals together
- [Barolo Investment Partners](https://shizune.co/investors/profile/barolo-investment-partners) — VC Fund, 1 deal together
- [Carthona Capital](https://shizune.co/investors/profile/carthona-capital) — VC Fund, 1 deal together
- [Expansion Capital](https://shizune.co/investors/profile/expansion-capital) — VC Fund, 1 deal together
- [Highgoal Capital](https://shizune.co/investors/profile/highgoal-capital) — VC Fund, 1 deal together

## Similar investors

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### Similar stage
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### Similar country
- [Imprimatur Capital Fund Management](https://shizune.co/investors/profile/imprimatur-capital) — VC Fund
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## FAQ

### What does FlyCap invest in?

FlyCap invests primarily in Health Care, Rental and Medical startups, most often at Funding Round and Seed stage. Most of the 30 investments tracked by Shizune back companies in Latvia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is FlyCap's check size?

FlyCap typically joins rounds of $55k–$2.9M at Seed and $329k–$2.2M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds FlyCap participates in.

### How do I contact FlyCap?

Public channels for FlyCap 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 FlyCap?

The team at FlyCap includes Girts Milgravis (Partner), Janis Liepins (Partner) and Janis Skutelis (Partner). 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 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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