UAB Investicijų ir Verslo Garantijos (INVEGA) invites interested parties to submit their observations and comments on the selection criteria for the financial intermediaries of a new risk capital instrument Accelerator Fund. Comments may be submitted by 14 March 2018 to the following address: email@example.com.
The principal purpose of the Accelerator Fund shall be to promote the risk capital market and facilitate access for MSEs in Lithuania to long-term equity and quasi-equity financing and provide Accelerator Programmes. The implementation of the Fund shall aim to increase the level of competitiveness of Lithuania by supporting the establishment of new enterprises and improving overall business productivity.
It is planned that a call for expressions of interest in order to identify Fund Manager or Financial Intermediary that will establish and manage the implementation of a risk capital funds will be launched in April. The two Accelerator Fund managers, selected by Invega, will also have to attract additional funds from independent private investors and accelerate their programs.
The fund is implemented by the Business Financing Fund, a fund-of-funds established as part of the Operational Programme for the EU Funds’ Investments in 2014-2020. INVEGA has been appointed as the manager of the Business Financing Fund pursuant to the provisions of a funding agreement dated 15 April 2016 between INVEGA, the Ministry of Economy and the Ministry of Finance of the Republic of Lithuania.
The document on selection criteria is available here.