Participated · Series A · May 2015

Trafi is a Lithuania startup offering a public-transport app for journey planning. The app uses real-time data from users and transit authorities and applies predictive machine-learning algorithms to analyse local traffic patterns and predict journey durations and arrival times. Trafi positions itself as a ‘Waze for public transport’ and cites competitors such as Moovit and Citymapper, arguing its data accuracy differentiates it. The app is currently available in Turkey, Lithuania, Latvia, Estonia and Brazil. Trafi says it will use the new capital to launch in additional markets, further develop the technology, scale the team and open an office in London, with a focus on Europe and high-growth emerging markets. Financially, the company has just closed a $6.5M Series A led by Octopus Investments. TRAFI provides a journey-planning service that seamlessly combines public transit, taxi, bicycle routes and walking, using real-time traffic information to recommend the most convenient and expedient modes. The app includes a route-suggestion algorithm that integrates with Foursquare's API to suggest places to stop along the way. TRAFI already reaches over 300,000 unique users monthly in its launch market in Lithuania. It is available on the web and on Android and is undergoing a redesign ahead of broader rollouts. The company is targeting aggressive expansion in 2013/2014 into emerging markets and multi-million population cities such as Sao Paulo, Mexico City and Moscow, focusing on markets underserved by competitors that rely only on open data. Financially, TRAFI announced a $500,000 seed round led by Practica Capital.

Led · Equity · Mar 2015

Stenders is a Latvian cosmetics producer and franchise developer that manufactures and sells cosmetic products through a franchised retail network. Its footprint comprises 200 franchise stores across 22 countries, including 110 stores in major Chinese cities. Led by CEO Julien Laporte, the company operates a branded retail model and maintains a consumer-facing product portfolio. In 2014 Stenders reported global retail revenues of €27m. After receiving a €1m investment with backers including BaltCap, the company intends to strengthen its management team with international cosmetics expertise and expand its product range. Planned expansion includes new store openings in Singapore and London to support its international growth.

Led · Equity · Feb 2012

Vendon produces monitoring systems and telemetry solutions for vending machines that track cash and product flow and report damages or technical problems. Its equipment and software are supplied to both international and local vending machines. The company’s telemetry systems optimize human resources and reduce transportation-related losses by delivering remote diagnostics and inventory data. Vendon is a draugiem.lv group company and its products are Latvian-produced. The company received €500K financing that the article says comes from BaltCap, private investor contributions and EU Structural Funds administered by the Latvian Guarantee Agency. Vendon intends to use the capital to accelerate development, hire new people and organize active international selling.

Led · Equity · Feb 2012

Clusterpoint develops a database platform optimized for cloud computing infrastructure and positions it as highly scalable. The product targets enterprise users and competes against open‑source solutions such as MongoDB. The company was created by Latvian programmers and has prior backing from seed investors in the U.K. and the Baltics. Clusterpoint says the new funding will be used to scale its database for cloud deployments. Its current disclosed financing activity includes a €1 million investment from BaltCap. No operating metrics or valuation were disclosed in the article.

Led · Equity · Jul 2011

AGroup, founded in 2008 and based in Riga, Latvia, develops HRB, a human resource management solution. HRB provides core HR functionality such as payroll calculation and work time recording and integrates with leading ERPs including Oracle, SAP, Sun Systems and Microsoft Dynamics NAV. The product has more than 500 installations in 24 countries. The company plans to complete development of the fifth version of HRB, which will add talent management, recruiting management and personnel evaluation. AGroup intends to enable SaaS delivery and to use the funding to strengthen its sales team, expand its partner network and increase marketing efforts. The company is led by CEO Alexander Snurnitsyn.