Lithuania SME Fund ("the Fund") is a growth capital fund organized by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania.
In July 2009, the European Investment Fund (EIF) selected BaltCap to manage two new venture capital funds dedicated to investing in SMEs in Latvia and Lithuania under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative.
The funds, which were raised by BaltCap in 2010, provide start-up and expansion financing to companies with exceptional growth potential in the Baltic states. Typically, BaltCap will equity stakes of between EUR 0.3m and EUR 3m.
Total size of Lithuania SME Fund is EUR 20m, EUR 14m of which is provided by the EIF-managed JEREMIE Holding Fund and EUR 6m by leading Baltic financial institutions, including SEB Venture Capital, LHV Asset Management, Swedbank Asset Management and DnB NORD Asset Management.
The Fund provides growth financing for micro-, small- and medium-size enterprises ("SMEs") based in Lithuania. The Fund invests into the equity of up to EUR 3m per enterprise. We aim to build a diversified portfolio of 7-15 investments.
We have a generalist approach and will consider financing companies with exceptional growth potential across various industries.