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About GEM Capital
GEM Capital is a venture capital firm founded in 2017. It is primarily based out of Paphos, Cyprus. As of May 2026, GEM Capital is an active investor, having invested in 43 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Cyprus based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Gaming. Most recently it participated in the $***** Series A round of Odd Meter Overall, GEM Capital portfolio has seen 3 unicorns, 2 IPOs and 3 acquisitions including key companies like Coursera, Yotpo and Marqeta. A lot of funds co-invest with GEM Capital, with names like The Games Fund sharing a substantial percentage of its portfolio. GEM Capital has team of 10 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed & Series A
Deals in last 12 months
GEM Capital's List of Top Investments
GEM Capital has a portfolio of 43 companies, including 3 unicorns. Their most notable investments are in Order of Meta and Owlcat Games.Their portfolio spans across United States, Cyprus, Russia and 11 more locations. They have invested in High Tech, Enterprise Applications, Gaming and 21 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by GEM Capital:
1. Coursera
Provider of online courses, professional certificates, and degree programs. The platform collaborates with universities and companies to deliver educational content. It offers opportunities for individuals to learn new skills and advance their careers. The platform provides learning resources for businesses to train their workforce.
Key facts about Coursera
- Founded Year: 2012
- Location: Mountain View (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $443M
- Employee Count: 6,501 as on May 31, 2026
- Investors: HTIF, Sprout Capital Partners and 49 Others
- Latest Funding Round: Series F, Jul 17, 2020, $*****
- Highlight: Public
2. Telegram
Developer of a cloud-based mobile and desktop messaging application. The application focuses on providing users with secure and fast communication. It offers features such as encrypted messaging, self-destructing messages, and cross-device synchronization. The application supports large group chats and allows users to customize their messaging experience. It also provides an open API and source code.
Key facts about Telegram
- Founded Year: 2013
- Location: Dubai (United Arab Emirates)
- Stage: Series D
- Total Funding till date: $150M
- Employee Count: 3,434 as on Jul 31, 2026
- Investors: SIB Investment Group, Atomico and 28 Others
- Latest Funding Round: Conventional Debt, Mar 18, 2024, $*****
- Highlight: Editors' Pick
3. Yotpo
Yotpo is a cloud-based marketing platform for e-tailers. The company offers solutions for reviews & ratings, visual marketing, loyalty, referrals, SMS marketing, and more. It helps businesses by generating content and verified reviews from shoppers and sharing them across search engines and social networks. It allows shoppers to read and write social reviews, get automatic reminders to write reviews, etc. It also provides reports and analytics solutions giving online merchants actionable insight to improve merchandising strategy. It can be integrated with online platforms like Magento, Shopify, Facebook, etc.
Key facts about Yotpo
- Founded Year: 2011
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $436M
- Employee Count: 784 as on Jul 31, 2026
- Investors: Access Industries, Vertex Ventures Israel and 33 Others
- Latest Funding Round: Series F, Sep 09, 2021, $*****
- Highlight: Editors' Pick
4. Marqeta
Provider of a platform for modern card issuing and payment solutions. The platform allows businesses to integrate end-to-end credit and payment solutions. It enables the creation of tailored payment experiences and new card products. The platform offers features such as spend controls, fraud detection, and compliance tools. It facilitates the issuing of virtual cards and supports global expansion. The platform provides open APIs for creating payment products.
Key facts about Marqeta
- Founded Year: 2010
- Location: Oakland (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $528M
- Employee Count: 1,045 as on Jul 31, 2026
- Investors: HTIF, Harvest Growth Capital and 63 Others
- Latest Funding Round: Series E, Oct 08, 2020, $*****
- Highlight: Public
5. Hypemasters
Hypemasters is a mobile game developer. It has developed casual mobile games like Hype City which is a city-building simulation game, Town Rivals which is a PvP simulation game under development. The games are available for Android and iOS users. It monetizes through in-app purchases and advertisements.
Key facts about Hypemasters
- Founded Year: 2019
- Location: Dover (United States)
- Stage: Series A
- Total Funding till date: $5.25M
- Employee Count: 23 as on Jul 31, 2026
- Investors: Impact46, MGVC and 3 Others
- Latest Funding Round: Series A, Dec 09, 2025, $*****
- Highlight: Editors' Pick
GEM Capital's Year-on-Year Investment Trends
GEM Capital has invested in 44 companies over the last 7 years, with an average of 3 new investments annually in the last 5 years. In 2025, it made 2 investments, while as of May 2026, it has made 1 investment in this year. Its most recent first time investment was in Odd Meter and most recent follow-on round was in Hypemasters.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 1 | 1 | 2 |
2024 | 5 | 2 | 7 |
2023 | 3 | 0 | 3 |
2022 | 3 | 0 | 3 |
2021 | 2 | 0 | 2 |
2020 | 1 | 0 | 1 |
2019 | 2 | 0 | 2 |
GEM Capital's Investments by Stage
GEM Capital has made 11 investments in Seed stage with an average round size of $2.72M and 7 investments in Series A stage with an average round size of $6.11M.Stage of entry | No. of Investments |
|---|---|
Seed | 11 |
Series A | 7 |
Note: We have considered here, only first round of investments
GEM Capital's Investments by Sector
GEM Capital has a diverse portfolio, with companies operating in the Gaming, Mobile, Enterprise Applications, High Tech and Aerospace, Maritime and Defense Tech. Notably, it has invested in 37 Tech companies, 26 Consumer (B2C) companies, 22 Software companies and at least 17 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Gaming | 13 |
Mobile | 3 |
Enterprise Applications | 2 |
High Tech | 2 |
Aerospace, Maritime and Defense Tech | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
GEM Capital's Investments by Geography
GEM Capital has made most investments in Cyprus (6), followed by Russia where it has made 3 investments.Country | No. of Investments |
|---|---|
Cyprus | 6 |
Russia | 3 |
United Kingdom | 2 |
United States | 2 |
Belarus | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
GEM Capital's recent investments
GEM Capital has made 1 investments in 2026 so far - Odd Meter.Here are the most recent investments by GEM Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 12, 2026 | Kazakhstan | Series A | 1118 | - | |
Dec 09, 2025 | United States | Series A | 6659 | ||
May 16, 2025 | Cyprus | Seed | 3162 | ||
Aug 14, 2024 | Cyprus | Series A | 6039 | [+1] | |
Jul 23, 2024 | United States | Series A | 8512 |
Unicorns in GEM Capital's Portfolio
GEM Capital has 3 unicorns in its portfolio - INFARM, Yotpo and OCSiAl. The most recent unicorn in their portfolio is INFARM. It became a unicorn in 2021, 4 years before GEM Capital first invested in it.Here is a list of unicorns in GEM Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
58 | Company offering a global vertical farming network using efficient farming methods | 2013 | Berlin | Series D | qwhoesl | ||
75 | Cloud-based marketing platform for e-tailers | 2011 | New York City | Series F | rfvwcr{ | ||
51 | Manufacturer of graphene nanotubes and nanoaugmented materials for various industries | 2010 | Luxembourg | Series A | zrujctb |
IPOs and Publicly Listed companies in GEM Capital's Portfolio
2 of GEM Capital's portfolio companies have become public. Marqeta got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jun 2021 at marketcap of $14.3B and Coursera got listed on the New York Stock Exchange (NYSE) at marketcap of $4.3B.Here are GEM Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 09, 2021 | - | - | 4581 | |
Mar 31, 2021 | - | - | 6122 |
Acquired companies in GEM Capital's Portfolio
3 companies from GEM Capital's portfolio have been acquired. The most recent acquisition was AppMagic in May 2026 by SensorTower for $*****.Here are GEM Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 12, 2026 | Jul 23, 2024 | Series A | 6325 | |
Sep 24, 2025 | - | - | 9202 | |
Jan 22, 2024 | - | - | 1086 |
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Team profile of GEM Capital
GEM Capital has a team of 10 members including 2 Partners and 1 Principal located in Cyprus. GEM Capital's team does not sit on the board of any company as of now.Here is a list of all team members in GEM Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Cyprus | - | ||
Partner | Paphos | - | ||
Principal | Paphos | - |
Co-investors of GEM Capital
Over the past 7 years, 50 investors have co-invested in GEM Capital's portfolio companies. This includes funds and angels.
- Invested before GEM Capital: MGVC, The Games Fund and 7 others have invested in rounds before GEM Capital. There is 1 company where MGVC has invested before GEM Capital and 1 company where The Games Fund has invested before GEM Capital.
- Top Co-investors of GEM Capital: 35 investors entered a company along with GEM Capital. These include investors like The Games Fund (4 companies).
- Invested after GEM Capital: A total of 6 investors have invested in GEM Capital's portfolio after their investments. Top Investors include Krafton (2 companies), Impact46 (1 company) and Flashpoint (1 company).
Recent News related to GEM Capital
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Impact46 leads $1M round backing Hypemasters, joined by GEM CapitalMobidictum•Dec 09, 2025•Hypemasters, GEM Capital, Impact46, Impact46 and 1 other
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Studio 42 Secures $3.6M Seed Funding for Next-Gen Puzzle GamesStartup Rise EU•May 16, 2025•Play Ventures, GEM Capital
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Eschatology Entertainment Raises €10.2M in FundingFinSMEs•Aug 19, 2024•Eschatology Entertainment, Krafton, GEM Capital
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Mobile market intelligence platform AppMagic raises $3 millionPocket Gamer•Jul 23, 2024•AppMagic, GEM Capital, Vibranium, Vibranium
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Gem Capital invests $5M IN Weappy, VEA Games and Game GardenVentureBeat•May 30, 2024•GEM Capital, Weappy, , VEA Games and 1 other
