Selection for the Fund Manager of the Financial Instrument Venture Capital Fund II – Call Reference 2017/BFF/VCF

Reference is made to the Call for Expression of Interest published on 25 January 2017 (Call for Expression of Interest) in relation to the Selection of the Fund Manager for the Financial Instrument Venture Capital Fund II, supported by the ERDF (Venture Capital Fund II) (2017/BFF/VCF).

After assessment of Applications for the Venture Capital Fund II in accordance with the published Call for Expression of Interest, UAB “Investicijų ir verslo garantijos” (INVEGA), in co-operation with the European Bank for Reconstruction and Development (EBRD), has decided to re-launch the Call for Expression of Interest.

INVEGA hereby invites potential fund managers to express interest in the management of the Venture Capital Fund II focused on investing in small and medium enterprises (SMEs) engaged in, or planning to be engaged in, R&D and innovation activities and acting in Smart Specialization priority sectors.

The Financial Instrument Venture Capital Fund II will be implemented and venture capital fund manager will be selected by INVEGA with the participation of the EBRD.

Submission of expressions of interest

The Call for Expression of Interest for the Venture Capital Fund II manager (liet. Kvietimas teikti paraiškas Ankstyvosios stadijos ir plėtros fondo II valdytojui) contains all information related to the application process. All documents and information specified in the Call for Expression of Interest must be submitted by the Applicants in the manner provided for in the Call for Expression of Interest. The specific attention of Applicants is drawn to the Business Plan requirements set out in Annex 3 of the Call for Expression of Interest, in particular to the Section “Additional Business Plan Requirements” thereof.

Potential fund managers can express their interest to implement the Venture Capital Fund II, supported by the ERDF: investments into SMEs engaged in, or planning to be engaged in R&D and innovation activities and implementing projects in Smart Specialization priority sectors (indicative contribution from the national budget: EUR 13.76 million).

A detailed description of the selection process is provided in the Call for Expression of Interest.

If you have any additional questions, please do not hesitate to submit them via e-mail to equity@invega.lt in accordance with the deadlines specified below. Questions may be submitted in either the Lithuanian or English languages. The replies to questions will be published in the Lithuanian and English languages on the website of INVEGA at http://invega.lt/lt/duk/ankstyvosios-stadijos-ir-pletros-fondas-ii/

Each Applicant will be notified of further actions planned and decisions taken by INVEGA.

Main deadlines relating to the submission of expressions of interest

Deadline for Applicants to request clarifications from INVEGA regarding the Call for Expression of Interest and the Terms and Conditions for the Venture Capital Fund II: 20 October 2017

Publication of any answers to relevant requests for clarification received within the above deadline: 27 October 2017

Application Deadline: 3 November 2017

Invitation of the shortlisted Applicant(s) to present, and answer questions on their Business Plans: by 24 November 2017

The Call for Expression of Interest (LT, ENG)*

Disclaimer (LT, ENG)*

*Attention: The English language version of the Call for Expression of Interest and Applications prevails to the extent of any inconsistency.

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