Venture Capital (VC) firms provide capital to startups with long-term growth potential. While Lithunia’s startup community is relatively young, it has grown rapidly in recent years, and so has its venture and angel ecosystem. Each of the firms listed below have a different focus but all are committed to supporting the growth of Lithuania’s startups and fostering innovation in the country.
This article was last updated on 19 October 2022. If I'm missing a venture capital fund, please let me know and I'll add it.
BaltCap focuses on building businesses that increases the quality of life in our societies, and are the largest private equity fund manager in the Baltic states. They are the only multi-strategy fund manager in the Baltics covering buyout, growth, venture, and infrastructure investments.
To date, they've invested in over 100 companies across a wide range of industry sectors and raised aggregate capital of over €650 million.
However, as long as the technology is innovative or deemed of high value to society. we do not limit ourselves to these segments.
Baltic Sandbox is a Vilnius-based early-stage accelerator that invests and supports high-growth startups in the Baltics and beyond. Their mission is to help startups skyrocket, business angels widen their competencies with hands-on practice, and investors not to run out of outstanding founders.
Capitalia is the leading financer for small and medium enterprises in the Baltic sea region. Since 2007, they’ve financed more than 5000 businesses and invested more than €100 million.
Capitalia’s venture capital operation typically invests based on these terms:
- Financing amount: €100-500k
- Term: Three to five years
- Shares in the company: Typically from 10-49%
- Repayment of financing: Sale of the business together with the founders
- Documents for evaluation: Depending on each specific case
Capitalia has made investments in Aerones, Giraffe360, Inzmo, Indexo, Cenos, and Edurio.
Change Ventures is the first pan-Baltic seed fund. They invest €400k-2M in teams building global scale businesses at the pre-seed and seed stages, along with follow-on capital in later rounds and hands-on support to reach product-market fit and a deep network of later stage investors and partners.
CoInvest Capital is a €25m Lithuanian venture capital firm based in Vilnius. They invest in companies alongside business angels. According to their website, their check size can range from €100k-1M.
Contrarian Ventures is a hands-on, community-focused and founders vetted early-stage climate tech-focused VC focused on Europe and Israel. They like to partner early, lead rounds, sit on boards, and help companies hire, sell, and scale.
They made their first investment in 2018 and haven’t stopped since. Energy Storage, Smart Grid, EV Charging, Energy Efficiency – some but not all of the sectors that they have a huge interest in.
Their typical investment size starts with €500k investment but they can be flexible around entrepreneurs’ needs.
Iron Wolf Capital
Iron Wolf Capital is a seed-stage VC fund with offices in Vilnius and London investing in teams with a global mindset creating disruptive technologies. They invest in smart people with innovative ideas and global aspirations.
They pair their investment with their own hands on experience building businesses and networks in many continents of the world. Their typical investment size is between €250k and €2 million in AI, IoT, SaaS, deep tech, fintech and marketplace startups.
Lithuanian Business Angel Network (LitBAN) fosters business angel activity through communication, events, networking, syndication of deals both locally and across Nordics by uniting wealthy individuals, successful entrepreneurs, and executives that are curious about angel investing activity, are interested in sharing their knowledge and network with new entrepreneurs.
Since it was founded on March 14, 2018 LitBAN has grown to over 200 member and has invested more than €15m.
LitCapital is a leading growth capital investor that was founded in 2010. They invest in the development and growth phases of technology-enabled and advanced companies, supporting entrepreneurs and management teams with not only capital but also expertise.
Nextury Ventures is a venture 3.0 style incubator building and funding startups around the hottest Silicon Valley tech ideas. They leverage low local development and market launch costs in Lithuania to develop new products and business models and scale the successful models in the United Kingdom and United States.
Since 2014, they’ve invested millions of € in over 30 companies in fintech, sharing economy, proptech, mobile, e-commerce, wearable, and other verticals.
Open Circle is a Vilnius-based early-stage tech VC interested in ICT, robotics, and high-tech companies. They favor teams comprised or led by serial entrepreneurs with past growth, fundraising, and/or exiting experience.
Practica Capital is an early-stage VC dedicated to backing Baltic founders at the seed as well as selected pre-seed and A stage. They have exclusively invested in the Baltic states for the last ten years. To date, they’ve made more than 60 investments into companies like TransferGo, PVcase, Interactio, Eneba, Ovoko, Trafi, CGtrader, and others.
They’re also the most active Baltic syndicate partner co-investing local, regional, and international VCs & PEs, accelerators & incubators, angels, corporates, public agencies, banks, crowdfunding platforms and others. Their investments range from a minimum of €200k to €2m+.
StartupHighway is a Baltic startup accelerator and an early seed stage fund based in Vilnius, Lithuania. Since it’s establishment in 2011 it has developed a proven investment programme focusing all of its efforts on value maximization for innovative technology startups.
Their program is designed for each participant by providing:
- Individually customized mentorship
- Seed funding
- Free working space
- Extended investment