aA
The Ministry of Economy is planning a potential investment fund that would provide seed capital and co-investments to newly formed small and micro businesses, or startups. The measure being considered to form the fund would also help develop the alternative First North market, a stock exchange geared towards smaller companies in the Nordic region, by preparing those companies to enter the regulated securities market.
Minister of Economy Evaldas Gustas
Minister of Economy Evaldas Gustas
© DELFI / Kiril Čachovskij

“This new trial measure will encourage private investments into the ideas of young businesses with potential to help them reduce their initial risk and accelerate their successful growth. We invite business representatives to give us their comments and suggestions on how to implement this measure,” said Minister of Economics Evaldas Gustas.

According to Gustas, the new fund will receive €11 million in funds that have been returned or will be returned to the INVEGA fund, which is also run by the ministry. The new measure will be controlled by a newly formed daughter company owned by Investicijų ir Verslo Garantijos (INVEGA).

Together with private investors, the fund will invest into small business with retained earnings that were registered no more than 5 years ago. Private investors, which will be able to be venture capital funds or teams of no fewer than three angel investors, will be investment initiators who will be able to suggest potential company investments to the fund's managers.

|Populiariausi straipsniai ir video

Pandemic threats: how lockdown affected startups

The COVID-19 pandemic faced by the world paralyzed a significant number of businesses ....

Lithuania could apply for EUR 6.3 billion from EU recovery fund

The European Commission has proposed that Lithuania could apply for 6.3 billion euros from the new...

Kaunas opens for more street food

The Square of the Constituent Seimas and the Daugirdas Amphitheater are two new places where Kaunas...

Wizz Air resumes flights from Vilnius to Dortmund

Hungarian airline Wizz Air is resuming its regular flights from Vilnius to Germany's western city...

Market leader in credit management services plans to expand its team in Lithuania

Intrum , a market leader in credit management services , has decided to expand its global business...

Top news

Lithuania lifts self-isolation rule for travellers from 24 countries

Easing the lockdown measures, the Lithuanian government has approved that travellers coming from 24...

Veryga: most coronavirus victims had underlying diseases

The majority of the coronavirus victims in Lithuania had underlying health conditions when they got...

Only 3 new coronavirus cases in Lithuania

On Sunday, 3 new COVID-19 cases were detected in Lithuania. Since the outbreak of the pandemic,...

Baltrenas: we can help healthcare to develop medical intelligence

Lithuania's military intelligence is ready to help the country's healthcare system to bolster its...

Around 400 music groups join for special initiative

On Monday, the nationwide thank-you campaign ‘Thank you, Lithuania!’ has attracted a record...

|Maža didelių žinių kaina