# Open Circle Capital

Open Circle Capital is a Private Equity based in Vilnius, Lithuania.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Vilnius, Lithuania
- **Region:** Europe
- **Address:** Vilnius, Lithuania
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** www.opencirclecapital.lt
- **LinkedIn:** https://www.linkedin.com/company/open-circle-capital

## Regulatory record

- **Reports private funds:** No

## About

Open Circle Capital is a venture capital firm focused on technology investments in ICT, robotics, and high-tech. The firm has made 29 investments, including a Seed VC - II investment in PIXEVIA on May 20, 2024. Open Circle Capital has facilitated three portfolio exits, with the most recent being Frontu on October 17, 2024.

## Sectors

- ICT
- Robotics & Automation
- High-tech

## People

- Audrius Milukas — Partner, CEO
- Jens Kristian Damsgaard — Partner
- Rokas Tamosiunas — Partner
- William Cardwell — Partner

## Questions

### Who runs investment decisions at Open Circle Capital?

Investment decisions are led by the four named partners: Audrius Milukas (CEO), Jens Kristian Damsgaard, Rokas Tamosiunas, and William Cardwell. The firm advises prospective founders to reach an individual partner directly for the most relevant conversation.

### How does Open Circle Capital's fund structure affect its portfolio companies?

Lithuania's public institutions are a major stakeholder in the fund, but the firm states explicitly that its investments are not limited by de minimis aid amounts. This means portfolio companies remain compatible with other state and EU support mechanisms, a structural distinction from many government-co-funded VC vehicles.

### Does Open Circle Capital lead or follow in investment rounds?

The firm is happy with both roles. It prefers syndicated rounds and actively helps its companies involve further investors. It will take the lead when needed but will also follow if another investor is more active.

### What technologies does Open Circle Capital avoid?

While the firm does not publish an explicit exclusion list, its stated focus is strictly ICT, robotics, and high-tech. Sectors outside those three categories — including consumer brands, traditional manufacturing without a hardware-tech component, or non-tech services — appear absent from its portfolio and investment language.

## Related profiles

- [Open Capital](https://altss.com/profile/open-capital)
- [Open CNP](https://altss.com/profile/open-cnp)

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Last updated: 2026-06-03T20:00:00.000Z

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