Member News: EIF Helps Baltic Small Businesses Meet Their High-Growth Potential
SME Finance Forum member, The EIB Group, is committing resources from the Baltic Innovation Fund, a Fund-of-Fund initiative launched with the Governments of Lithuania, Latvia and Estonia in order to boost equity investments made into Baltic small and medium businesses with high growth potential.
“We are pleased with the successful completion of the first closing. It’s important that investors in the fund include both international financial institutions who see the Baltic region’s business potential and local investors who know the market and Invalda INVL well. For our part, we’re actively working on acquisitions and intend to conduct several transactions already in the next six months, investing in Baltic companies with the potential to become regional leaders or operate successfully on global markets,” said Darius Šulnis, the chairman of the board of INVL Asset Management. He said a second and final closing of the fund is also scheduled in 2019, with the intention of reaching the fund’s target size of EUR 200 million.