# Top 10 Internet VC (Venture Capital) Funds in Latvia in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| European regional development fund (ERDF) | 2 | United Kingdom, Germany, France | Grant, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| ZGI Capital | 2 | Latvia, Estonia | Seed, Debt Financing | Manufacturing, Machinery Manufacturing, Consulting |
| Mamba | 1 | Latvia | Seed | Mobile Apps, Social Media, Social Network |
| New Nordic Ventures | 1 | Latvia, Estonia, United States | Pre-Seed, Seed | Software, Machine Learning, Artificial Intelligence |
| Moscow Seed Fund | 1 | Russian Federation, United States, Israel | Seed, Debt Financing, Series A | Software, Information Technology, Advertising |
| AdFirst.vc | 1 | United States, Russian Federation, Latvia | Seed, Pre-Seed, Series A | E-Learning, Mobile Apps, FinTech |
| Mail.Ru Group | 1 | Russian Federation, United States, Cyprus | Seed, Series A | Social Media, Mobile Apps, Education |
| Vesna Investment | 1 | Latvia |  | EdTech, Internet, Education |
| Almaz Capital | 1 | United States, Russian Federation, Latvia | Series A, Series B | Software, Mobile, Internet |
| Envac Group | 1 | Latvia | Pre-Seed | Waste Management, Internet of Things |

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