Call for Expression of Interest for the Selection for the Fund Manager of the Risk Capital Financial Instrument “MILInvest”

Call for Expression of Interest for the Selection for the Fund Manager of the Risk Capital...

UAB Investicijų ir Verslo Garantijos (hereinafter referred to as INVEGA) hereby invites potential fund managers to express interest in the management of the new risk capital financial instrument “MILInvest”. INVEGA will select one fund manager, which will set up two risk capital funds (Pre-seed Fund and VC Fund).

Submission of expressions of interest

The Call for Expression of Interest for “MILInvest” fund manager 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 to INVEGA in the manner provided for in the Call for Expression of Interest.

If the Applicant wishes to submit the Expression of Interest by email only, when the Expression of Interest and all documents attached has to be signed by electronic signature, but due to technical issues some of the documents cannot be signed by electronic signature (e. g. a foreign citizen cannot sign his (her) declaration by electronic signature), then the authenticity of scanned copies of the original signed documents in PDF format can be verified by electronic signature of the Applicant and submitted with the Expression of Interest. Original signed documents must be sent to INVEGA by registered mail or courier.

If you have any additional questions, please do not hesitate to submit them via e-mail to in accordance with the deadlines specified in the Call for Expression of Interest. 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 this page.

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

Main deadlines related to the submission of Expressions of Interest

  • Deadline for Applicants to request clarifications from INVEGA regarding this Call for Expressions of Interest and the terms and conditions applicable to each fund: 23 July 2021 (inclusive)
  • Publication of any answers to relevant requests for clarification received within the above deadline: 4 August 2021 (inclusive)
  • Application deadline: 16 August 2021 (inclusive)
  • Invitation of the shortlisted applicant(s) to present, and answer questions on their business plans: by 1 October 2021.

The Call for Expression of Interest for “MILInvest” Fund Manager and Disclaimer*

Documents In English

Documents In English

Dokumentai lietuvių kalba

Dokumentai lietuvių kalba

*Please note that in case of any inconsistency between the English and Lithuanian versions of the Call for Expression of Interest for “MILInvest” Fund Manager, the English version will prevail.

The public discussion of the draft Call for Expression of Interest and Terms and Conditions for new risk capital instrument “MILInvest” was announced in 2021. February 10.

Comments, questions and answers received during the public discussion

About financial instrument MILInvest

The new instrument is aimed at promoting experimental development and innovative activities in the defence and security sector in Lithuania by providing investments in emerging and viable high-tech companies in the defence and security sector in Lithuania. The instrument shall offer pre-acceleration program, acceleration programs and equity as well as quasi-equity investments in viable businesses in the defence and security sector.

This instrument will be implemented from the funds of the Defence Investment Fund financed from the State budget. It is expected that the “MILInvest” fund manager selected by INVEGA will attract additional funding from independent private investors.
The Defence Investment Fund was established by the Ministry of National Defence and INVEGA on 8 December 2020.