Venture capital fund Coinvest Capital strengthens the community of experienced business angels and private co-investors by accrediting new business angels. The professional experience of business angels contributes to reducing the risk of early-stage investment, helps to strengthen the ecosystem of Lithuanian startups and to grow new future unicorns and sustainable successful businesses.
Among the newly accredited business angels of the fund are Giedrimas Jeglinskas, Linas Sargautis and Darius Antanaitis, as well as the Junicorns (Jaunaragiai) endowment fund.
Currently, 167 business angels have valid accreditation in the fund - individuals, companies and several other private funds.
According to Viktorija Trimbel, director of Coinvest Capital, the accreditation of experienced business angels is growing in accordance with the fund's renewed investment strategy presented in May this year, in order to encourage foreign angels and experts from the most innovative global industries to invest in Lithuanian startups.
According to the fund's strategic vision, the ideal group of co-investing angels includes an expert in a specific industry, as well as an expert in a foreign country where the startup seeks to expand, and other business angels who have specific competencies, required by the target startup. "The essence of business angel investments is to bring not only funds, but also personal contacts and experience. For a very young, fast-growing and risky company, this is no less important than finances," says V. Trimbel.
"Investing in startups is a great way to promote research and technological development, which is important for building a prosperous nation. To actively participate in these processes, contribute to the growth of startups, and help them with expert advice, I joined Coinvest Capital. The fund's professional team, clear vision, and sincere communication convinced me that I was taking the right step", says D. Antanaitis.
"I went from founding a startup to selling the business to a strategic investor, so now I want to contribute to the implementation of new ambitious business ideas and share my experience." I joined CoInvest Capital because this fund helps business angels implement investment ideas, develops them, and is the core of the business angel community in Lithuania," says L. Sargautis.
"My goal is to contribute to the search for ambitious and visionary innovators who are competent to develop defense and dual-use products and to create companies to join global defense supply chains. By investing in these technologies, and especially in people, we have an extraordinary opportunity to contribute to the country's breakthrough", notes G. Jeglinskas.
The newly accredited intangible capital fund "Junicorns" is also ready to invest in the development of startups together with "CoInvest Capital". "Junicorns" is an innovative endowment fund, established by the entrepreneurship and financial literacy education organization "Lietuvos Junior Achievement" (LJA).
"There are now more than 250,000 LJA alumni in Lithuania. It is a vast network of talent, and its members can build world-class startups. It is in these startups that we want to invest, and the return from these investments will later be used to finance the activities and programs of LJA programs, thus increasing the ranks of entrepreneurial personalities in Lithuania", notes Martynas Kandzeras, chairman of the management of the "Jaunaragiai" foundation.
Coinvest Capital traditionally invests in a selected start-up company with at least 2-3 accredited business angels. In case of success, the business angels are given the profit of the investment so that they can invest in even more startups. The true actual success story is exit from investment is Interactio. In June 2021, two years after the investment, Coinvest Capital sold all the shares of Interactio owned by the fund, and the business angels partially realized their investment. The value of the business angels' investment at this stage had increased 9 times, and their return on investment from this particular exit, adding the profits shared by fund with co-investors, reached almost 34 times.
About Coinvest Capital
Coinvest Capital is an early-stage risk capital fund established by INVEGA, using public funds from the budget of the EU and the Republic of Lithuania, investing together with business angels and other venture capital funds in young promising Lithuanian companies. Currently, the fund's portfolio already includes 27 startup companies. The fund offers a unique opportunity for private investors to get additional benefits by limiting their investment return to 6% in the event of a successful exit. Out of 25.5 million EUR fund capital, free capital for new investments amounts to 15 million euros. https://www.coinvest.lt/