A new risk capital fund from BaltCap, the leading private equity investor in the Baltic States, has attracted some €20 million from several key investors. The fund is focused on Lithuanian micro, small and medium enterprises and is part of the JEREMIE Holding Fund (JHF) initiative for Lithuania. JHF contributed €14 million with the remainder coming from a variety of institutional investors including DnB NORD Asset Management, LHV Asset Management, SEB Venture Capital, and Swedbank Asset Management.
Lithuanian SME Fund
The new fund is the first such fund of it’s type to target Lithuania and have both the support and financial investment of the state. The fund aims to invest up to €3 million for equity stakes in 7-15 companies, primarily those with stable operations looking for expansion capital. Both BaltCap and the Lithuanian Ministry of Economy hope the fund will stimulate further risk capital investment in the country as well as signaling to other potential investors that Lithuania is again becoming an attractive option.
BaltCap (www.baltcap.com)
BaltCap is a private equity and venture capital firm established in 1995. The firm is one of the leading investors in the Baltic Region, leading the way in Estonia, Latvia and Lithuania. To date BaltCap has made a total of 38 investments with 23 of them fully exited. Since it’s inception the company has raised five funds Baltic Investment Fund I and II which have been exited, Baltic Investment Fund III and Baltic SME Fund which are fully invested, and BaltCap Private Equity Fund which is still actively investing.
29/04/2010
Central & Eastern Europe, Financial Services, Fundraising, Lithuania, Private Equity News