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The Venture Codex

Fil Rouge Capital

Trg Kralja Tomislava 15, Zagreb, Grad Zagreb, 10000, Croatia

Overview

Fil Rouge Capital (FRC) invests in early stage businesses from angel investment, seed, VC and Series A rounds through a combination of equity and debt structures. FRC’s approach is to target investments that complement the skills and experience of its Founders so that they can bring more than just capital to help a business grow. Both FRC’s Founders have a core knowledge of technology, services, and an entrepreneurial history that they can bring to the benefit of an investment. FRC is Europe-centric, and with a base in Ljubljana, Slovenia, there is an additional focus on Central and Eastern Europe, Austria and Southern Germany. On an opportunistic basis FRC will look at deals throughout Europe and also the United States. The Founders are well-connected to accelerators in Central Europe and in Silicon Valley.

Total investments
14
Lead investments
10
Investments · 12mo
8
Active investors
9

Sector focus

  • Finance
  • Venture Capital
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Investment portfolio

  • Genesis Space Flight Laboratories

    Led · Seed · Jul 2026

    Genesis Space Flight Laboratories develops reentry capsules and provides platforms for microgravity research, including PocketQube-sized GEN payload platforms. Founded one year prior in Croatia, the company has completed two space missions — the orbital MAYASAT-1 mission aboard SpaceX Falcon 9 (Transporter-14) and the GEN-1 reentry demonstration on SSC Space’s RED KITE-powered sounding rocket — and has successfully flown and returned customer payloads. It validated two research payload modules on GEN-1, conducting fruit fly microgravity experiments and microbiology research on fungi and algae using a 25-sample NIR analysis platform. The company has established partnerships across Europe and with U.S. launch providers and built an early institutional customer base with repeat customers. With the recent Seed close, bringing total venture funding to €1.5 million, Genesis plans to develop the larger GEN-5 capsule, enable longer-duration missions, and expand its international team.

  • Synaps

    Led · Seed · Jun 2026

    Synaps offers a browser-based, real-time collaborative design canvas that combines a prompt-driven workflow with a generative, vector-based floorplan drawing tool (Vecy AI) and a high-speed rendering engine for 2D, 3D, and video outputs. The company positions its product as accelerating drawing by a claimed factor of up to 50 and rendering 100–1,000 times faster than market alternatives based on internal testing. Synaps launched its beta in Tirana and, while still in beta, reported 60,000 users, 1,500 daily active users, and hundreds of paying customers. The team has grown rapidly from four to seventeen employees and opened a San Francisco office as part of US expansion plans. Version 1 is planned for summer 2026 with more than 20 additional AI tools across drafting and post-production, and management projects significant user growth and a seed round by the end of 2026.

  • FaceUp

    Led · Series A · May 2026

    FaceUp provides a unified ethics and compliance platform that combines anonymous encrypted reporting, structured case management, audit tracking, AI-powered hotline services, surveys and external compliance support. The company started in 2017 as a non-profit anti-bullying initiative and commercialized its offering in 2020; it was founded by Jan Slama, David Spunar and Pavel Ihm. FaceUp is used by more than 3,600 organizations across over 70 countries, including customers such as Mercedes-Benz, Zendesk, Heineken, Taco Bell, Sephora, KFC and Vercel, and has processed more than 44,000 reports globally. The company says its platform protects roughly 1.3 million people in 70 countries, about half of whom are students. FaceUp plans to expand its product suite with new investigations, disclosure management and policy management modules, accelerate customer acquisition and grow partnerships. Financially, the company has raised approximately $9 million to date, including the recent $5 million Series A aimed at increasing ARR and expanding the team and market reach.

  • DDD Invoices

    Participated · Seed · May 2026

    Founded in 2023, DDD Invoices offers a unified API to convert standardized invoice data into local formats, validate it against country-specific rules, route it to appropriate tax systems, and return status updates to the originating application. The platform supports issuing, receiving, and archiving tax‑compliant e‑invoices and integrates natively with platforms such as Stripe, Bitrix, Shopify, and Chargebee. For unstructured files like PDFs, the company uses AI-based document processing to extract and structure invoice data. DDD Invoices says it helps customers navigate Continuous-Transaction-Control, e‑invoicing, and fiscalisation requirements across multiple jurisdictions. Current customers include Access Group, Zenoti, Logitude, and WheelSys. The company plans to grow country coverage, simplify integrations and deployment, and expand its product, engineering, and go‑to‑market teams using the recently raised capital.

  • XO Life

    Led · Equity · Apr 2026

    XO Life develops "Brite," a global meta-platform that consolidates digital product and therapy support so pharma and medtech companies can provide patient information, monitoring and engagement in a single infrastructure. The company emphasizes scalability by enabling many therapies and markets to use one platform instead of separate apps for each medication. XO Life works with more than 40 pharmaceutical companies, including three of the world's top ten, and plans to position Brite as a consolidated offering in early 2025. It intends to invest the new funding in AI capabilities and in processes to simplify and speed pharma onboarding across entire portfolios. XO Life focuses on B2B relationships at the interface of patients, medical professionals and the pharmaceutical industry, where long sales cycles and regulatory requirements are prominent. The company is headquartered in Munich and is using successive funding rounds to move from platform build-out to international scaling across Europe.

Team