Reflex Capital SE

Active

Overview

Reflex Capital SE is a Prague-based venture capital firm that invests in early-stage innovative companies, primarily across Central Europe including Czech Republic, Slovakia, Austria, Germany, Hungary, Poland, and Slovenia.¹²³⁵ Originally started as a family office, it has evolved into a full-fledged venture capital house managing multiple funds and providing hands-on support from its team of ex-entrepreneurs.²³ Notable investments include Productboard, Wavepaths, and Alice Technologies.⁵

History

Reflex Capital was founded in 2012 by Ondrej Fryc, a successful Czech entrepreneur who previously built and sold one of Europe's largest internet shops in the biggest CEE e-commerce transaction at the time.¹² It began as a family office before evolving into a venture capital firm.² The firm was formerly known as Spread Capital and maintains an office in San Francisco, US.⁴ It manages at least two funds launched in 2022 and 2023.³

Notable Products

Productboard - Product management software platform.
Wavepaths - Early-stage innovative company in portfolio.
Alice Technologies - Construction planning software using AI.

Reputation

Reflex Capital is regarded as a value-adding VC by ex-entrepreneurs who offer free support to portfolio companies based on gut feeling and founder alignment rather than strict industry focus.²⁵ Professionals note its focus on early-stage investments in Central Europe with deal sizes from €25K to €5M+.³⁵ It benefits from partners' extensive M&A experience.²

Sources (5)