Growth stage VCs active in Lithuania

Growth stage VCs active in Lithuania

Which venture firms have been powering the growth stage for Lithuanian startups? We looked at 2018-2021 investment deals (excluding strategic).

Mix of firms, thesis important

  • Looking at the last 3 years, the sample size in Lithuania is still fairly small. Just now we are arriving at more ecosystem maturity, where multiple growth deals are expected in one year.
  • We don't see the same firms backing several startups, with a little exception of InReach Ventures (earlier Oberlo, recent Eneba). They are known for the data-driven sourcing.
  • Verticals and thesis have been important - is it Fintech (Transfergo) or Mobility (Ziticity). Other funds are just more generalist by nature (Evli, Mangrove, Index)
  • Lightspeed Venture Capital Partners are in a special spot with Rytis Vitkauaskas being a partner in Europe. Recently joined by Paul Murphy (ex Northzone).

Heading towards series A?

  • Firms and partners change, but people connections remain. Most seasoned Lithuanian founders have a good network across Europe.
  • Some Baltic seed funds (and angels) are better connected compared to others
  • There is no lack of funds across Europe, Lithuania has quickly built a reputation, and many growth VCs are open to going across the borders.

Growth rounds 2021-2018, Lithuania

FundStartups
Accel
Vinted
Brighteye Ventures
Gosu.ai
Burda Principal Investments
Vinted
Change Ventures
QoorioInteractio
EBRD
Trafi
Evli Growth Partners
CGTrader
Hard Yaka
Transfergo
Inreach Ventures
EnebaOberlo
Insight Venture Partner
Vinted
Karma Ventures
CGTrader
Leta Capital
Affice
LSVP
Vinted
Mangrove Capital Partners
Qoorio
NordicNinja
Ziticity
Octopus investments
Trafi
OTB Ventures
Ondato
Revo Capital
Transfergo
Seventure Partners
Transfergo
Sprints Capital
Vinted
SVB
Transfergo
TMT Investments
Affice
U-Start Club
Transfergo
Vostok Emerging Finance
Transfergo