What stage does FRC FUND MANAGEMENT S.À R.L. invest at?

FRC FUND MANAGEMENT S.À R.L. invests at the Pre-Seed, Seed, Series A stages.

Where is FRC FUND MANAGEMENT S.À R.L. located?

FRC FUND MANAGEMENT S.À R.L. is headquartered in Zagreb, HR.

FRC FUND MANAGEMENT S.À R.L.

Accelerator

Zagreb · Pre-Seed–Series A · 11 people tracked

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✨ Fox Verdict

Investment thesis

Fil Rouge Capital (FRC) is an investment fund manager whose funds back early-stage businesses at the pre-seed, seed, and Series A stages. This page is a short blog post arguing that customer traction and product-market fit matter more than industry awards.

Invests inAdvanced Manufacturing AI & Machine Learning Biotech Cleantech Climate Tech Crypto & Web3 Cybersecurity EdTech Energy Healthtech Sector AgnosticCroatiaEuropeZagreb

Source: firm website, verified Aug 3, 2026.

Stage

Pre-Seed–Series A

Zagreb, HR

Instruments

Equity

AUM

$112M

Portfolio companies

Team · 11 people

from the firm's website & public directories

Aleš Pustovrh· Partner· Sloveniain

Aleš Pustovrh is a partner at Fil Rouge Capital with experience in strategic planning and market research across Slovenia and Eastern Europe. His background encompasses long-term strategy development, startup business development, and project management, with particular focus on international expansion and new market entry.

Julien Coustaury· Managing Partner· Zagreb, Croatiain 𝕏

Julien Coustaury is a Founding Partner at Fil Rouge Capital and a Y Combinator alumnus (YC11) with a background in telecommunications. He invests in early-stage founders and provides feedback on applications submitted through formal channels.

Roger Blott· Partner· Zagreb, Croatiain

Stevica Kuharski· Partner· Croatiain 𝕏

Stevica Kuharski is a Partner at Fil Rouge Capital. He has over 20 years of experience in software development across web, mobile, client/server, and hardware platforms, and has founded multiple companies.

Mili Ibrulj· Principal· Croatiain 𝕏

Tihana Vujčić· Principal· Croatiain

Matei Dumitrescu· Venture Partner Romania· Romaniain

Matei Dumitrescu is Chief Executive Officer of Graal Soft, an apex software solutions company. With 25 years of IT entrepreneurial experience and 15 years as an impact-focused investor, he has invested in over 50 startups and held positions including Vice President of Techangels and partner at Fil Rouge Capital. He has also designed and led international startup acceleration and innovation programs for 12 years, serves as a jury member for the European Innovation Council Accelerator, and holds a Master's degree in Finance from Oxford University's Said Business School.

Ana Bognar· Operations· Croatiain

Anica Bagarić· Accelerator Program & Marketing

Biserka Domazet· Office Manager· Croatiain

Dora Poslek· Analyst· Croatia

Portfolio companies · 2 tracked

alumni founders can tell you what the program is really like

CastItAnywhere

Online platform offering out-of-home (OOH) advertising infrastructure to advertisers in a Google Ads-like manner, using AI to help choose optimal ad locations.

Opti Space Solutions

Hybrid work solution for companies offering a marketplace to book spaces plus tools to manage internal workspaces, workforce, and expenses.

Frequently asked questions

What stage does FRC FUND MANAGEMENT S.À R.L. invest at?: FRC FUND MANAGEMENT S.À R.L. invests at the Pre-Seed, Seed, Series A stages.
What sectors does FRC FUND MANAGEMENT S.À R.L. focus on?: FRC FUND MANAGEMENT S.À R.L. focuses on Advanced Manufacturing, AI & Machine Learning, Biotech, Cleantech, Climate Tech, Crypto & Web3, Cybersecurity, EdTech, Energy, Healthtech, Sector Agnostic.
Where is FRC FUND MANAGEMENT S.À R.L. located?: FRC FUND MANAGEMENT S.À R.L. is headquartered in Zagreb, HR.

Images

Co-investors · 2

AI21 Labs

AI21 is an artificial intelligence company developing trustworthy AI systems and language models designed to enhance human productivity and capabilities.

CDP Venture Capital

CDP Venture Capital SGR is an Italian venture capital fund manager that invests in strategic sectors for Italy's economic growth through direct and indirect funds. It is Italy's leading VC fund manager and among the largest in Europe.

Firms observed investing alongside FRC FUND MANAGEMENT S.À R.L., from public investor directories. Shared companies are the overlap with FRC FUND MANAGEMENT S.À R.L.'s recorded portfolio.

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