Investicijų ir verslo garantijos (INVEGA), in co-operation with the European Bank for Reconstruction and Development (EBRD), invites interested parties to submit comments on the draft Call for Expression of Interest and Terms and Conditions for four (4) new risk capital instruments planned by the Ministry of Economy:
- Development Fund I, supported by the ERDF,
- Development Fund II, supported by the ERDF,
- Venture Capital Fund II, supported by the ERDF,
- Business Angels Co-Investment Fund supported by the ERDF.
Please submit your comments no later than 9th of November 2016 by email at firstname.lastname@example.org. Comments may be submitted in either the Lithuanian or English language.
The final Call for Expression of Interest is intended to be published in December 2016 in Lithuanian and English languages. The final Call for Expression of Interest may differ in part or in whole to this draft version published for comment.
These new risk capital instruments will aim to promote entrepreneurship in Lithuania, improve the productivity of micro, small and medium-sized enterprises (SMEs) and further develop the national equity investment framework. They will also promote investment and job creation across regions and enhance the supply of finance to SMEs seeking to invest in research, development and innovation in the field of smart specialisation.
The risk capital instruments will be co-financed by the Business Financing Fund financed under the European Regional Development Fund. Risk capital fund managers selected by INVEGA will be expected to raise additional funding from independent private investors.
The Business Financing Fund was established on 15 April 2016 by the Ministry of Economy, the Ministry of Finance and INVEGA.
Download the Terms and Conditions in English.