Draft Call for Expression of Interest and Terms and Conditions for risk capital instrument “Venture Capital Fund III”

INVEGA  invites interested parties to submit comments on the draft Call for Expression of Interest and Terms and Conditions for risk capital instrument “Venture Capital Fund III” planned by the Ministry of Economy and Innovation.

Please submit your comments no later than Friday 23 February, 2024 by email at asipf3@invega.lt

Draft Call for Expression of Interest and Terms and Conditions.

The Call for Expression of Interest is intended to be published in May 2024 in English and Lithuanian languages. The conditions of the Call for Expression of Interest may differ from the draft version published for comments.The financial instrument is aimed to stimulate investments into micro, small and medium-sized enterprises with growth and development potential.

This financial instrument will be financed by the Innovation Promotion Fund, which is partially financed by the European Regional Development Fund. Fund manager selected by INVEGA will be expected to raise additional funding from independent private investors.

The Innovation Promotion Fund was established on 30th December 2020 by the Ministry of Economy and Innovation, the Ministry of Finance and INVEGA and is financed from the State budget, European Regional Development Fund and Recovery and Resilience Facility.