Instrument suspended Development Funds III

With this financial instrument,the State aims to promote venture capital investments into micro, small and medium-sized enterprises (SMEs) and small mid-caps in Lithuania, to contribute the European Green Deal by promoting sustainable investments, to ensure a balance of venture capital investments, and help to develop the Lithuanian venture capital ecosystem.

This financial product: 

  • stimulates the development of innovative, sustainable products and services, and contributes to Lithuania's climate change goals;
  • helps to expand the country's start-up ecosystem;
  • promotes the country's economic potential and international competitiveness;
  • increases the interest of private investors and help fund managers to reach their target fund size;
  • increases the level of equity and venture capital investment across Lithuania, filling the gap of funding;
  • promotes best practice in the venture capital sector, with the State as one of the main, reliable investors in venture capital funds;
  • promotes the return of public investment;
  • contributes to the creation of well-paying jobs and GDP growth.

Who is eligible?

  • Micro, small and medium-sized enterprises
  • Small mid-cap companies

Total allocation - €60 million.  The selected VC funds can expect a contribution of between €4 million and €20 million from INVEGA