Private investors may be venture capital funds, their management companies and business angel groups (at least 2 or 3 business angels depending on the sub-fund).
Private investors must be independent from the target company:
- – Private investors must not be the current shareholders of the target company.
- – Private investors, through related legal or natural persons, must not own 5% or more of the votes or shares of the target company.
- – In case Koinvesticinis fondas and private investors are co-founders of a new company, all private investors are considered independent.