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Open Circle Capital is a venture capital firm established in 2017 and based in Vilnius, Lithuania. The firm focuses on investing in early-stage technology companies, particularly in sectors such as information and communication technology (ICT), robotics, and high-tech industries. Open Circle Capital aims to partner with startups that exhibit significant growth potential and are prepared to expand into foreign markets.
Currently, Open Circle Capital manages a portfolio of 15 companies and has deployed two funds, with Fund I concentrating on Lithuanian tech startups and Fund II expanding its reach to the Nordics and Baltics. The firm has a flexible investment strategy, allowing it to lead or follow investment rounds, and it is partially funded by INVEGA, the Lithuanian government investment agency. This backing enhances their ability to support early-stage ventures effectively.
The investment strategy of Open Circle Capital encompasses a wide range of technology sectors, including AI, IoT, SaaS, healthcare, fintech, logistics, robotics, commerce, biotech, and energy. The firm typically invests between €100,000 and €500,000 in initial funding, with the potential for follow-on investments totaling up to €3 million over several years. Open Circle Capital is particularly interested in startups led by experienced entrepreneurial teams that demonstrate readiness for international expansion.
Open Circle Capital emphasizes its commitment to supporting Baltic-origin startups with global ambitions. The firm is flexible in its investment approach, willing to lead or participate in rounds, which allows them to adapt to the needs of their portfolio companies as they grow. Their focus on high-growth potential firms in technology sectors positions them as a valuable partner for startups seeking to scale.
Open Circle Capital's portfolio includes a diverse range of companies across various technology sectors. Notable portfolio companies include:
Among these, Frontu and Vieta.app are notable exits, showcasing the firm's ability to identify and support high-potential startups.
Audrius Milukas: Partner and CEO at Open Circle Capital. He has extensive experience in venture capital and technology investments, focusing on early-stage companies.
Jens Kristian Damsgaard: Partner at Open Circle Capital. He brings a wealth of knowledge in technology sectors and has a strong background in supporting startups.
Rokas Tamošiūnas: Partner at Open Circle Capital. He specializes in early-stage investments and has a keen interest in high-tech industries.
William Cardwell: Partner at Open Circle Capital. He has a background in venture capital and technology, focusing on supporting innovative startups.
To pitch Open Circle Capital, founders should use the contact email hello@opencirclecapital.lt or submit their pitch through the firm's website at opencirclecapital.lt. It is recommended to include a comprehensive pitch deck that outlines the business model, market analysis, and financial projections. Founders can expect a response within a few weeks, and warm introductions are preferred but not mandatory.
In recent months, Open Circle Capital has been active in deploying its second fund, OCC II, which focuses on expanding investments into the Nordics and Baltics. The firm continues to support its portfolio companies, including notable exits such as Frontu and Vieta.app. As of March 2026, Open Circle Capital has successfully built a portfolio of 15 companies, demonstrating its commitment to early-stage technology investments.
What are Open Circle Capital's investment criteria?
Open Circle Capital invests in early-stage technology companies, particularly those in sectors like AI, IoT, SaaS, healthcare, fintech, logistics, robotics, commerce, biotech, and energy. They prefer startups led by experienced entrepreneurial teams with significant growth potential.
How can founders pitch to Open Circle Capital?
Founders can pitch to Open Circle Capital through their website at opencirclecapital.lt or via email at hello@opencirclecapital.lt. They should include a detailed business plan and financial projections in their pitch deck.
What makes Open Circle Capital different from other VC firms?
Open Circle Capital focuses on early-stage technology investments in the Baltic region and has a strong commitment to supporting startups with global ambitions. Their flexibility in leading or following investment rounds allows them to adapt to the needs of their portfolio companies.
What is the geographical scope of Open Circle Capital's investments?
The firm primarily invests in Europe and the Nordics, targeting technology companies that are ready to expand into foreign markets.
What is the typical check size for investments?
Open Circle Capital typically invests between €100,000 and €500,000 in initial funding, with the potential for follow-on investments totaling up to €3 million over several years.
What kind of support do portfolio companies receive post-investment?
Open Circle Capital provides strategic guidance and expertise in technology sectors to its portfolio companies, helping them navigate growth challenges and expand into new markets.
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