Venture Capital Firms in Lithuania

DEPO Ventures is a venture capital firm and angel network established in 2016, headquartered in Prague, Czech Republic. The firm is dedicated to strengthening Europe's critical technological infrastructure by fueling inception and pre-seed stage technology companies. They actively seek out and back innovative founders from Central and Eastern Europe (CEE) and the Baltics, focusing on disruptive visions with global ambitions.Founded by Michal Ciffra and Petr Šíma, DEPO Ventures began its journey in 2016 with a vision to build a robust early-stage ecosystem. Over the years, they have cultivated a strong community of angel investors and co-investors, aiming to become a leading pre-seed investor in the region. The firm's strategic focus is on emerging and disruptive technologies that are poised to reshape the infrastructure of tomorrow's society.The firm's investment portfolio spans a diverse range of technology sectors, including deep tech, fintech, blockchain, artificial intelligence, developer tools, enterprise software, and marketplaces. Notable investments include companies like WanderWallet, Tatum, Blockmate, Ringil, Beem, Upgrade Academy, and DriveX. DEPO Ventures manages angel funds and an international network of angel investors, facilitating the investment process for business angels and providing crucial support to startups.The DEPO Ventures team comprises experienced professionals and venture partners with backgrounds from prominent technology companies such as UIPath, Rossum, AVG, Socialbakers, Intel, and Avast. This collective expertise allows them to offer hands-on support, strategic guidance, and valuable connections to their portfolio companies, helping founders navigate the challenges of early-stage growth and prepare for subsequent funding rounds with leading late-stage European VCs.

FIRSTPICK is a first-check venture capital fund that primarily backs Baltic founders at the inception and pre-seed stages. While maintaining a generalist approach, the firm places a strong emphasis on AI-first software companies. They typically deploy initial investments ranging from €100k to €500k, with the capacity for follow-on investments up to €1M. The firm is known for its high-speed investment process and its commitment to supporting early-stage tech startups across the Baltics.The fund was launched in 2022, with its capital stemming from a combination of private investors, the founding team, and an investment from the Lithuanian state-financed ILTE fund, which is part of the Accelerator 2 program, funded by the European Union NextGenerationEU. The firm's leadership team brings extensive experience from various sectors, including management consulting, startup acceleration, and entrepreneurship, contributing to a robust support system for their portfolio companies.FIRSTPICK has rapidly built a diverse portfolio of 43 companies since its inception. Notable investments include Copla, which raised a €6M Series A to support EU regulatory compliance, Samphire Neuroscience, which secured $5M in seed funding for its neurotech wearable targeting menstrual pain, and Handwave, a Latvian startup providing a European alternative to Amazon’s palm payments, which raised a $4.2 million seed round. Other portfolio companies mentioned include Skarbe, Tingit, and Algori. Beyond capital, FIRSTPICK offers its portfolio companies access to a platform comprising over 100 experienced operators, a network of 250+ founders, and battle-tested early-stage know-how.The leadership team at FIRSTPICK includes General Partners Jonė Vaitulevičiūtė, Dmitrij Sosunov, Andra Bagdonaitė, and Marijus Andrijauskas, alongside Nikodemas Valiušaitis (Finance and Compliance Associate), Rūta Sičiūnaitė (Investment Analyst), and Tadas Gud, who leads the platform. Their collective expertise spans fundraising, strategy, metrics, product-market fit, sales, business development, and operations, providing comprehensive mentorship and support to their portfolio companies from idea validation through growth stages.

ICOS Capital is a Dutch-based ClimateTech Venture Capital firm established in 2005, dedicated to accelerating sustainability by investing in breakthrough technologies. The firm's ambitious mission is to facilitate the reduction or avoidance of one gigaton of CO2 equivalent emissions by 2050. They achieve this by focusing on early-growth stage companies with validated business-to-business market traction, particularly within the food systems, chemicals & materials, sustainable industry process & digital technologies, and decarbonization sectors.The firm operates on a unique Collaborative Venturing Platform (CVP) model, which brings together fast-growth innovators and sector-leading corporations. This platform facilitates growth financing, engineering and production expertise, infrastructure, and market access for their portfolio companies. Nityen Lal, a Founding Partner, emphasizes that this proven model is crucial for tackling the urgent and complex challenge of decarbonizing to Net Zero.ICOS Capital has made numerous investments in companies that align with its sustainability mission. Notable portfolio companies include Foamlab, which recently raised €3 million in growth capital, eAgronom, whose Soil Carbon Program secured Verra's registration, and Mevaldi B.V. Other significant investments include Carbon Clean, Squirro, TRACT, Holiferm, Nutrileads, Invert Robotics, Plantics, RainMaker WorldWide (which had an IPO), Bioactor (which was acquired), Photanol, Silgan, Point Source Carbon Capture Technology, Hudson River Biotechnology, CarbonOrO, and 1-2 Taste.The ICOS Capital investment team boasts over 75 years of cumulative venture capital experience, with members who have led and internationally syndicated deals with top-tier funds, realized trade sales and IPOs, and assisted startups in becoming successful ventures. Key team members include General Partners Nityen Lal and Peter van Gelderen, CFO Rudi Dupper, and Investment Committee Chair John van Grootel. The firm also leverages a network of industry partners and venture partners, such as Jos Keurentjes, an experienced scientist and innovation leader, to provide extensive expertise and support to its portfolio companies.

Iron Wolf Capital is a venture capital firm based in Vilnius, Lithuania, with additional offices in London and Tallinn. Founded in 2018, the firm focuses on early-stage investments in deep tech and AI startups originating from the Baltics and the Baltic diaspora. Their investment approach emphasizes supporting innovative teams with global aspirations, providing not only capital but also strategic guidance and access to international networks. With a typical initial investment ranging from €0.5 million to €2 million, Iron Wolf Capital prefers to lead or co-lead funding rounds. The firm has a strong track record, having invested in over 20 startups across sectors such as photonics, robotics, AI, education, pharma, and agritech. Their commitment to fostering innovation is further demonstrated by their active involvement in the Baltic startup ecosystem, including hosting events and publishing industry reports. Iron Wolf Capital places a strong emphasis on Environmental, Social, and Governance (ESG) considerations in their investment decisions. They are licensed by the Bank of Lithuania and are members of several industry associations, including the Lithuanian Private Equity and Venture Capital Association. Their cornerstone investor is Invega, a Lithuanian state-established financial institution.