Aneli Venture Capital Fund, worth €35M, begins operations in Lithuania

Aneli Venture Capital Fund has launched in Lithuania. The €35M fund will primarily focus on startups in the fields of information and communication technologies (ICT), as well as robotics, space, photonics, and energy, to help them grow and prepare to attract follow-on investors. 

Aneli Venture plans to invest up to 70% of its capital in Lithuanian startups, with the remainder going to regions in Eastern and Central Europe.

Daiva Rakauskaitė, CFA, partner and fund manager, said that the fund will invest in companies that attract solvent customers at an early stage and can justify their ideas from an economic point of view. Aneli Capital's goal is to be a partner throughout the entire journey, not just at the very beginning, and to help prepare startups for further investment.  

Next year, Aneli Capital plans to finance eight startups and exit several companies from previous funds. In total, the fund will make 20 investments during its first five years of existence. The average investment amount will be approximately €1.5M, typically distributed across several tranches.

Aneli Capital will manage the capital provided by the National Lithuanian Development Bank ILTE and a fund of a Warsaw-listed Polish company, Magna Polonia. The company’s fund is currently looking for new investors.

The Fund Partners include Nerijus Baliūnas, who leads business development and strategy; Jacek Blonski, who leads deep tech, networking, and negotiations; and Sabina Sinicienė, Fund’s Investment Director.