The Koinvesticinis fondas is a venture capital instrument of the Ministry of Economy, managed through limited partnership (LP) fund Koinvesticinis fondas, which was established by UAB Investicijų ir Verslo Garantijos (Investment and Business Guarantees) (INVEGA) together with its subsidiary UAB Kofinansavimas in 2017. UAB Kofinansavimas, the subsidiary set up by Invega, will participate in the activities of the LP as the general partner and Invega will be the investor of Koinvesticinis fondas and the limited partner whose contribution to the LP is financed by the INVEGA Fund.
What are the benefits?
The fund’s purpose is to help the commercialisation of ideas generated in scientific and research institutions through the implementation of research, development and innovation (MTEPI) activities.
What companies are eligible?
Micro and small enterprises that engage or intend to engage in economic activities in the areas of smart specialisation by implementing RDI activities, whose shareholders include, or will include at the time of investment, a science and research institution.
What is the maximum amount?
The Ministry of Economy earmarked for the investments made by the fund EUR 4 million from Business Financing Fund funded by the European Regional Development Fund.
How does it work?
The Fund together with private investors invest in micro and small enterprises that engage in economic activities in the areas of smart specialisation and are implementing RDI activities, and whose shareholders include a science and research institution. Investments are made only into potentially viable projects that can generate the expected return on investment and provide easy divesting options.
Working together with science and research institutions, private investors – venture capital funds or teams of at least two business angels – act as initiators of investments who are providing proposals to the Fund manager regarding investments in high-potential companies.
The Fund acts as a silent partner in the management of the companies receiving the investment. This role is established in shareholder agreements to be concluded together with the private investors following negotiations with them in each case.