FlyCap

FlyCap is a growth capital fund based in Riga, Latvia, that has been active since 2013. It lends to expanding companies rather than buying large ownership stakes, and most of its lending is aimed at businesses in Latvia, with the remainder going to other EU countries.

What FlyCap offers

• Mezzanine loans — Its second mezzanine fund provides loans that can sit behind a bank loan, with repayment either in one bullet payment or on a schedule.
• Growth capital — The firm finances businesses that already have sales and are growing, rather than very early ideas.
• Investment Fund I — A separate earlier fund, listed alongside the mezzanine fund, forms part of the same platform.
• Investment announcements — The firm also posts news of deals abroad and in Riga, including a digital advertising screen roll-out in Riga.

Who it works with

The fund looks for companies with established revenue and a strong growth rate. Preferred sectors are healthcare, B2B services, IT and technology, and export-oriented manufacturing. It also prefers environmentally friendly companies and projects that cut carbon emissions.

Key facts

• Based in: Riga, Latvia
• Operating since: 2013
• Focus regions: Latvia first, then other EU countries
• Legal entity: FlyCap AIFP SIA