FlyCap
Venture debtRiga · Seed–Late Stage · 6 people tracked
Investment thesis
FlyCap provides private debt financing to established, cash-flow positive businesses, primarily in Latvia (about 75%) and other EU countries (25%). Through its Private Debt Fund III it offers loans of €1-4 million for up to 5 years at annual interest rates of 12%+, which can be subordinated to bank loans with bullet or scheduled repayment and a 2.5-year lock-in period. Target companies have annual revenue above €1 million, yearly revenue growth over 10%, and leverage up to 5x EBITDA. Preferred sectors include healthcare, B2B, IT & tech, and export-oriented manufacturing, with a preference for environmentally friendly companies and CO2-reducing projects.
Source: firm website, verified Jul 31, 2026.
Team · 6 people
from the firm's websiteInvestments · 4 tracked
founders shown can be your intro pathFlyCap-managed fund making equity and convertible loan investments
FlyCap-managed private debt fund
FlyCap-managed private debt fund
Private debt portfolio company (exited)
Frequently asked questions
- What stage does FlyCap invest at?
- FlyCap invests at the Seed, Growth, Late Stage stages.
- What is FlyCap's typical check size?
- FlyCap typically writes checks of $1.1M – $4.3M.
- What sectors does FlyCap focus on?
- FlyCap focuses on Advanced Manufacturing, AI & Machine Learning, B2B Marketplaces, Climate Tech, Enterprise Software, Healthtech.
- Where is FlyCap located?
- FlyCap is headquartered in Riga, LV.
- Does FlyCap lead rounds?
- FlyCap typically participates in rounds rather than leading them.
Media · Podcasts & interviews
featuring the teamĢirts Milgrāvis, FlyCap AIFP | Vebinārs "Atbalsts biznesa transformācijai" - YouTube
Dienas Bizness · Ģirts Milgrāvis
Images
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