Invega, acting in cooperation with its subsidiary UAB Kofinansavimas, is establishing a new venture capital fund, Koinvesticinis fondas for Transport.
Invega, acting in cooperation with its subsidiary UAB Kofinansavimas, is establishing a new venture capital fund, Koinvesticinis fondas for Transport. The Fund is designed to encourage companies to develop mobile services and products, intelligent transport systems and innovative transport technologies that reduce CO2 emissions from transport. The Ministry of Transport and Communications has allocated EUR 4 million in funding from the European Cohesion Fund for the Fund’s investments in companies.
The Koinvesticinis fondas for Transport financial instrument will be implemented by UAB Kofinansavimas. The company will operate as a silent investor, so the investment initiators will include private investors that are the Fund’s partners, in particular venture capital funds and business angels.
The Koinvesticinis fondas for Transport is the fourth co-investment sub-fund of the limited partnership Koinvesticinis Fondas, which was established by Invega and UAB Kofinansavimas. The limited partnership also controls three other sub-funds funded under the venture capital measures Koinvesticinis fondas (with EUR 11m under management), Koinvesticinis fondas II (with EUR 9.28m under management) and Koinvesticinis fondas MTEPI (with EUR 4m under management) of the Ministry of the Economy and Innovation. The purpose of the limited partnership Koinvesticinis Fondas is to develop Lithuania’s venture capital market and provide broader access to capital for new and viable Lithuanian companies.
You can hear more about the opportunities offered by the Fund here: https://www.facebook.com/watch/?v=386040352267794