UAB “Investicijų ir verslo garantijos” (Invega) has announced plans to launch two new risk capital financing instruments, “Co-Investment Fund I” and “Co-Investment Fund II” aimed at facilitating financing to start-ups and SMEs and contributing to the development of the “First North” alternative market.
The plan is that funds will be managed by a subsidiary company of Invega which will pre-select private investors (risk capital funds and groups of business angels) for prospective co-investment opportunities suggested and brought by private investors.
“INVEGA fund” plans to allocate EUR 11 million to “Co-Investment Fund I” from proceeds that have been or will be returned from other financial engineering programmes. More information about the initiative can be found here (available in Lithuanian only).
“Co-Investment Fund II” will be financed from another source – the Business Financing Fund (Verslo finansavimo fondas) – with a contribution of EUR 11.6 million. The fund will focus on investments in R&D, innovation and smart specialisation5. More information about the initiative can be found here (available in Lithuanian only).