31/05/2010

This Growth Capital Fund is a key part of the Holding Fund’s activity and will result in a total of up to EUR 20 million being invested into Lithuanian micro, small and medium enterprises over the next few years. Investments by LitCapital will be made in enterprises with high growth potential during their early growth stages (seed, start-up and expansion phases).

The EUR 20 million Fund will consist of EUR 14 million provided by the EIF managed JEREMIE Holding Fund and EUR 6 million raised from institutional and private investors.

Mr. Richard Pelly, Chief Executive of the European Investment Fund stated, “Through the JEREMIE Holding Fund, the Lithuanian Government has wisely established a platform which will stimulate the growth of the venture capital industry in Lithuania. EIF is pleased to have been able to make this happen through managing the Holding Fund which will deliver long term benefits to the whole SME sector.”

The Fund will invest up to EUR 3 million into single SMEs with the aim to build a diversified portfolio of high growth enterprises selected by the professional and committed management team of LitCapital.