VILNIUS — The private equity investor BaltCap signed an agreement this week with the European Investment Fund to create a €20 million venture capital fund for Lithuanian small to medium sized businesses.

The fund will be part of the European Investment Fund managed JEREMIE Holding Fund initiative in Lithuania, which launched another €8.4 million Business Angels Fund with [private_supervisor]asset management companies MES Invest and Strata in January.

“This initiative will finance high potential Lithuanian SMEs in a new way, providing an added value both by strengthening their capital bases but also developing a new generation of entrepreneurial leaders in the market,”  European Investment Fund CEO Richard Pelly said.

The new fund will focus on expansion financing of SMEs with established operations and growth potential, taking equity stakes of up to €3 million with the aim to build a diversified portfolio of 7-15 investments selected by BaltCap analysts.

“We are very enthusiastic about the development opportunities which Lithuania SME Fund shall provide to Lithuanian businesses that are working hard to grow after economic downturn,” Simonas Gustainis, a partner at BaltCap said. [/private_supervisor] [private_subscription 1 month]asset management companies MES Invest and Strata in January.

“This initiative will finance high potential Lithuanian SMEs in a new way, providing an added value both by strengthening their capital bases but also developing a new generation of entrepreneurial leaders in the market,” European Investment Fund CEO Richard Pelly said.

The new fund will focus on expansion financing of SMEs with established operations and growth potential, taking equity stakes of up to €3 million with the aim to build a diversified portfolio of 7-15 investments selected by BaltCap analysts.

“We are very enthusiastic about the development opportunities which Lithuania SME Fund shall provide to Lithuanian businesses that are working hard to grow after economic downturn,” Simonas Gustainis, a partner at BaltCap said. [/private_subscription 1 month] [private_subscription 4 months]asset management companies MES Invest and Strata in January.

“This initiative will finance high potential Lithuanian SMEs in a new way, providing an added value both by strengthening their capital bases but also developing a new generation of entrepreneurial leaders in the market,” European Investment Fund CEO Richard Pelly said.

The new fund will focus on expansion financing of SMEs with established operations and growth potential, taking equity stakes of up to €3 million with the aim to build a diversified portfolio of 7-15 investments selected by BaltCap analysts.

“We are very enthusiastic about the development opportunities which Lithuania SME Fund shall provide to Lithuanian businesses that are working hard to grow after economic downturn,” Simonas Gustainis, a partner at BaltCap said. [/private_subscription 4 months] [private_subscription 1 year]asset management companies MES Invest and Strata in January.

“This initiative will finance high potential Lithuanian SMEs in a new way, providing an added value both by strengthening their capital bases but also developing a new generation of entrepreneurial leaders in the market,” European Investment Fund CEO Richard Pelly said.

The new fund will focus on expansion financing of SMEs with established operations and growth potential, taking equity stakes of up to €3 million with the aim to build a diversified portfolio of 7-15 investments selected by BaltCap analysts.

“We are very enthusiastic about the development opportunities which Lithuania SME Fund shall provide to Lithuanian businesses that are working hard to grow after economic downturn,” Simonas Gustainis, a partner at BaltCap said. [/private_subscription 1 year]

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