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Play Capital is a venture capital organization founded in 2023, with offices in Oslo and Singapore. The firm focuses on fostering entrepreneurship and innovation, particularly in technology sectors such as artificial intelligence (AI) and capital-efficient business models. Play Capital operates with a permanent-capital structure, allowing it to support portfolio companies without the constraints of traditional fund cycles.
The firm emphasizes a long-term commitment to its investments, enabling founders to grow their businesses sustainably. Play Capital's investment strategy is particularly geared towards early-stage companies that leverage AI to create innovative solutions. The organization also has a keen interest in sectors where Norway has a structural advantage, such as government administration and financial services.
As of now, Play Capital manages an undisclosed amount of assets under management (AUM) and has initiated several funds, including the Play India I investment vehicle, which focuses on early-stage technology investments in India. The firm is committed to building a diverse portfolio that spans multiple geographies, including Norway, India, Singapore, and Dubai.
Play Capital invests primarily in early-stage companies, specifically those that utilize AI to develop capital-efficient solutions. The firm targets sectors where Norway has a competitive advantage, such as government administration and financial services, while also exploring opportunities in India and fintech. Their investment strategy includes providing pre-seed funding to promising founders through initiatives like the Play Fellowship.
The Play Fellowship is a six-week program held in Oslo and Singapore, offering participants a 500,000 NOK investment upon company formation post-fellowship. This initiative is aimed at students, recent graduates, and dropouts with a strong interest in technology and entrepreneurship. Play Capital's approach is relationship-driven, emphasizing a founder-first mentality that supports exceptional founders from pre-seed through public markets.
Check sizes vary, with reported investments including 300,000 NOK in Coupl, an Indian neobank for couples, as part of a larger $1M financing round. The firm’s flexible investment strategy allows it to adapt to the needs of its portfolio companies, providing not just capital but also strategic support and mentorship.
Play Capital's portfolio includes notable companies and funds that reflect its investment strategy and geographic focus. Key portfolio companies include:
Additionally, Play Capital has invested in several India-focused micro-VC funds as part of its Play India I investment vehicle:
This diverse portfolio illustrates Play Capital's commitment to supporting innovative companies and funds that align with its investment thesis.
Rony Solaiman — Founder and lead at Play Capital, Rony has a background in entrepreneurship and investment, having held prior roles at Ask Business Management, Arx Compliance, and Fronted. His expertise lies in supporting technology-driven startups and navigating the investment landscape.
Jenil Malavia — India partner at Play Capital, Jenil is involved in the firm's efforts to expand its presence in the Indian market. His role includes identifying promising investment opportunities and supporting portfolio companies in the region.
To pitch Play Capital, founders should reach out via email at rony@playcapital.no. The firm operates on a warm-intro-only basis, meaning that introductions through mutual connections are preferred. Founders should include a clear and concise overview of their business, highlighting the technology and market opportunity.
While there is no formal application form disclosed, it is essential to convey the startup's alignment with Play Capital's investment focus on AI and capital-efficient solutions. Founders can expect a response time that varies based on the firm's current engagement and workload.
Play Fellowship — This six-week program is designed for students, recent graduates, and dropouts with a strong interest in technology and entrepreneurship. Participants receive mentorship and a 500,000 NOK investment upon company formation post-fellowship. The program is held in Oslo and Singapore, providing a unique opportunity for aspiring founders to develop their business ideas.
In June 2025, Play Capital participated in a financing round for Coupl, an Indian neobank for couples, investing 300,000 NOK as part of a larger $1M round. This investment highlights Play Capital's commitment to supporting innovative fintech solutions in India.
Additionally, the firm is actively developing its Play India I investment vehicle, which focuses on early-stage technology investments in India, including micro-VC funds such as WEH Ventures, Neon VC, AJVC, and Huddle Ventures.
What are Play Capital's investment criteria?
Play Capital primarily invests in early-stage companies that leverage AI to create capital-efficient solutions. The firm focuses on sectors where Norway has a structural advantage, such as government administration and financial services, while also exploring opportunities in India and fintech.
How can I apply or pitch to Play Capital?
Founders interested in pitching to Play Capital should reach out via email at rony@playcapital.no. The firm operates on a warm-intro-only basis, meaning that introductions through mutual connections are preferred.
What makes Play Capital different from traditional VC firms?
Play Capital operates with a permanent-capital structure, allowing it to support portfolio companies without the pressure of traditional fund cycles. This long-term commitment enables the firm to back founders from pre-seed through public markets.
What is the Play Fellowship?
The Play Fellowship is a six-week program that provides participants with mentorship and a 500,000 NOK investment upon company formation post-fellowship. It is targeted at students, recent graduates, and dropouts with a strong interest in technology and entrepreneurship.
What is the typical check size for investments?
While specific check sizes are not disclosed, Play Capital has reported investing 300,000 NOK in Coupl as part of a $1M financing round. The firm also offers 500,000 NOK through the Play Fellowship.
What is Play Capital's geographic focus?
Play Capital has a global investment focus, with particular attention to Norway, India, Singapore, and Dubai. The firm seeks to identify opportunities in various markets that align with its investment thesis.
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