Iron Wolf Capital

Invest Estonia’s 2025 profile dates the firm’s founding to 2017 in Vilnius, while Iron Wolf Capital’s LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry company profile lists 2018. The Bank of Lithuania records permission for UAB Iron Wolf Capital Management to manage collective investment undertakings intended for informed investors from October 1, 2018.⁠[2][1][3]

A 2020 EIB fi-compass case study records that the financial instrument Venture Capital Fund II, managed by Iron Wolf Capital, was established in December 2018 with €13.76 million from the European Regional Development Fund. Its first fundraising round brought available capital to €16 million, with a €20 million target. By early November 2019, it had made three investments totalling €1.7 million. This public financial instrument’s name is distinct from the new fund launched in 2025; €20 million remained a target in the report.⁠[4]

In 2025, Iron Wolf Capital launched a deep-tech and AI fund with a €100 million target, planning up to 25 early-stage investments in Lithuania, Latvia and Estonia across photonics, robotics, biotech and space technology. Launch adviser WALLESS stated that over €30 million had been secured and described its work on documentation, negotiations and Bank of Lithuania clearance. Invest Estonia’s June 2025 account instead described a completed €100 million second fund; the accounts differ on fundraising progress.⁠[5][2]

Invest Estonia reported that over 90% of existing investors recommitted, private investor participation tripled from Fund I, and backers included more than 40 family offices and high-net-worth individuals. The firm selected roughly six to eight companies annually, leading or co-leading rounds. Fund I had 22 investments, including Turing College, Litilit and eAgronom. NEDEScapital also identified Rendin and EyeVi Technologies in the earlier portfolio.⁠[2][6]

On June 13, 2025, NEDEScapital reported that Kadi-Ingrid Lilles had been promoted to partner at the end of 2024. She joined Iron Wolf Capital in summer 2023, working on Estonian investments and platform strategy. In May 2025 she moved her base to Tallinn after seven years in Berlin and worked to establish the Tallinn office. Her background included Plug & Play Ventures, Fraunhofer HHI and Startup Estonia.⁠[6]

On November 9, 2026, EstVCA reported Iron Wolf Capital’s participation in Onodrim IndustriesOnodrim IndustriesOnodrim Industries is an Amsterdam-based European defence and industrial scale-up platform that expands established producers’ capabilities through technology, capital and operational support.Open the full entry’ $300 million Series A at a $1.3 billion valuation. Lux CapitalLux CapitalLux Capital is a U.S. venture capital firm founded in 2000 by Peter Hébert, Josh Wolfe and Robert Paull, with offices in New York and Silicon Valley. Focused on emerging science and technology, the firm backs companies in fields including life sciences, artificial intelligence, robotics, manufacturing, aerospace and defense through fund investments and by helping to found companies.Open the full entry led, with General CatalystGeneral CatalystGeneral Catalyst (GC) is an investment firm founded in 2000 and headquartered in San Francisco, United States, created by Joel Cutler, David Fialkow and Bill Fitzgerald, that backs companies from the seed stage through growth.Open the full entry, LakestarLakestarLakestar is a technology investment firm founded by Klaus Hommels in 2012, active in early-stage and growth investing and defence and dual-use technology.Open the full entry, Altimeter CapitalAltimeter CapitalAltimeter Capital is a US technology investment firm founded by Brad Gerstner in 2008, investing through public and private market funds. Its legal entity is Altimeter Capital Management, LP, with offices in Menlo Park and Boston. Disclosed investments include Snowflake financing, Grab’s listing transaction and AI company financing.Open the full entry, Strike Capital, 137 Ventures137 Ventures137 Ventures is a San Francisco-based technology investment firm supporting growth-stage businesses through shareholder liquidity solutions and direct equity investments.Open the full entry, 8090 Industries8090 Industries8090 Industries is an investment firm headquartered in New York that backs early- to growth-stage companies in industrial sectors including advanced manufacturing and supply chains, AI infrastructure, aerospace and defense, and energy. It was co-founded by Kerem Ozmen and Rayyan Islam, and its investors are mainly families and institutions around the world that operate major industrial enterprises; as of August 2026, it managed about $1.382 billion in assets.Open the full entry and Expeditions among other participants. Managing partner Kasparas Jurgelionis said the firm had seeded Onodrim through its €100 million defence, sovereignty and resilience fund launched around 18 months earlier and was investing again. He described Onodrim as its second portfolio unicorn.⁠[7]

The current website lists investments of €0.5–5 million, a preference for leading rounds, and coverage of the Baltic Sea region, Ukraine and diaspora founders. Founding partners are Kasparas Jurgelionis, Viktoras Jucikas and Zygimantas Susnys, alongside partner Kadi-Ingrid Lilles, head of finance Juste Damulyte-Brookes and associate Vanda Alwast. It reports over 30 startup investments since 2019.⁠[8]

The website identifies Lithuanian state financial institution ILTE as cornerstone investor through funds of funds established by Lithuania’s Ministry of Economy and Innovation and financed by the ERDF. Memberships include LT VCA, EstVCA, LitBAN and EstBAN. Activities include the co-commissioned annual Baltic Deep Tech Report, Deep Tech Breakfast events and a bimonthly newsletter; ESG reporting follows Invest Europe guidelines.⁠[8]

The official website is https://www.ironwolfcapital.com/ (opens in a new window), whose footer links to https://www.linkedin.com/company/ironwolfcapital (opens in a new window). The company account links back and identifies Vilnius as headquarters. UAB Iron Wolf Capital Management appears in the Bank of Lithuania register. Investment and institutional relationships include Onodrim Industries, Turing College, Litilit, eAgronom, ILTE and Baltic venture capital and angel investor associations.⁠[8][1][3][2][7]