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Coinvest Capital is a venture capital fund established in 2018 and headquartered in Lithuania. It operates as a wholly owned subsidiary of the National Development Bank ILTE, which is under the Ministry of Finance of Lithuania. The fund is fully funded by the Lithuanian state and the European Union, aiming to bolster the local business angel ecosystem and provide early-stage startups with access to risk capital.
As of now, Coinvest Capital manages approximately EUR 44.3 million in committed capital and has a portfolio of 11 companies. The fund's mission includes enhancing the Lithuanian business angel ecosystem and improving access to risk capital for early-stage startups. Coinvest Capital has successfully exited investments in notable companies such as Gusania and Interactio, achieving significant returns.
With a focus on strategic sectors, Coinvest Capital is positioned to support the growth of innovative startups in Lithuania. The fund collaborates with various stakeholders, including business angels and other investors, to maximize investment potential and support for its portfolio companies.
Coinvest Capital operates as a sector and stage-agnostic evergreen venture capital fund, with a committed capital of EUR 44.3 million and EUR 13.08 million available for investments. The fund primarily targets sectors of strategic importance to Lithuania, including GreenTech, ClimateTech, EnergyTech, Life Sciences & MedTech, DeepTech, Big Data & AI, Space, Aviation & Transport solutions, and Defence.
The fund invests across various stages, including Pre-seed, Seed, Seed+ (Extension), Series A, Series B, and Series C. Coinvest Capital typically co-invests alongside business angels and other investors, often involving at least three accredited business angels in its deal structures. This collaborative approach enhances the investment potential and support for portfolio companies, aligning with the fund's goal of strengthening the Lithuanian business angel ecosystem.
Coinvest Capital has invested in a diverse range of companies, showcasing its commitment to various sectors. Notable portfolio companies include:
This portfolio reflects Coinvest Capital's strategic focus on sectors that are vital for Lithuania's economic development, including climate, energy, and healthcare.
Viktorija Trimbel: Managing Director with extensive experience in venture capital and investment management.
Kęstutis Juonys: Investment Manager, previously involved in various investment projects across Europe.
Edvinas Žuravliovas: Investment Manager with a focus on technology and healthcare investments.
Emilija Kuleša: Senior Investment Analyst, specializing in market research and analysis.
Matas Petronis: Investment Analyst with a background in financial modeling and startup evaluation.
Austėja Lazaravičiūtė: Investment Analyst focused on early-stage investments.
Jonas Čiutelė: Investment Analyst with expertise in data analysis and investment strategies.
Jusi Savukoski: Independent Non-Executive Investment Committee Member with a strong background in finance.
Mary McKenna: Independent Non-Executive Investment Committee Member with experience in international business.
Eimantas Norkūnas: Independent Non-Executive Investment Committee Member with expertise in venture capital.
Startups interested in pitching to Coinvest Capital should submit their proposals through the fund's website at coinvest.lt. The pitch deck should include a clear overview of the business model, market analysis, and financial projections. Response times may vary, but founders can expect to hear back within a few weeks.
In 2023, Coinvest Capital has made significant strides in its investment activities, focusing on sectors such as climate and energy. The fund has successfully exited investments in companies like Gusania and Interactio, achieving notable returns.
Additionally, Coinvest Capital continues to expand its portfolio, actively seeking new opportunities in early-stage startups across Europe. The fund's commitment to enhancing the Lithuanian business angel ecosystem remains a key focus as it engages with various stakeholders in the investment community.
What are Coinvest Capital's investment criteria?
Coinvest Capital invests in early-stage startups across various sectors, including climate, energy, healthcare, and technology. The fund focuses on companies that align with Lithuania's strategic economic goals and typically co-invests alongside business angels.
How can startups apply or pitch to Coinvest Capital?
Startups can apply for funding through Coinvest Capital's website at coinvest.lt. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes Coinvest Capital different from other VC firms?
Coinvest Capital is unique in its strong backing from the Lithuanian state and the European Union, which allows it to focus on enhancing the local business angel ecosystem. The fund typically involves multiple accredited business angels in its investment deals, providing additional support to portfolio companies.
What is the geographic scope of Coinvest Capital's investments?
Coinvest Capital primarily invests in startups based in Lithuania and other parts of Europe, focusing on sectors that are strategically important to the region.
What is the typical check size for investments?
The fund's check size typically ranges around EUR 13,080K, depending on the stage and needs of the startup.
What kind of post-investment involvement does Coinvest Capital have?
Coinvest Capital actively supports its portfolio companies through co-investment structures, providing access to a network of business angels and additional resources to help startups grow.
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