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Daiva Rakauskaitė became a head of Lithuanian Business Angels Fund
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Daiva Rakauskaitė Becomes CEO of Lithuanian Business Angels Fund
Daiva Rakauskaitė has been appointed as the Chief Executive Officer of the Lithuanian Business Angels Fund. Alongside other partners, she acquired management shares from the former CEO, Arvydas Strumskis.
Future Plans
According to Daiva Rakauskaitė, the company intends to establish a new fund for investments in Lithuania and Central and Eastern Europe within the next year.
Role of Arvydas Strumskis
Arvydas Strumskis will continue to advise portfolio companies of the fund and participate in the work of investment committees. He has been a managing partner of the Business Angels Fund since 2010. As of October 2022, he has also become a CEO at ARS Ventures, as per his LinkedIn page.
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Background of Daiva Rakauskaitė
Daiva Rakauskaitė has been a Board manager and partner of the fund since April 2018. She brings 13 years of experience in investing in startups.
About Business Angels Fund
The Business Angels Fund is a Lithuanian entity focused on supporting early-stage Lithuanian startups. The primary investor in the fund is the Lithuanian state-owned company INVEGA, which co-invests with business angels on an equal basis, with a ticket size of up to €600K.
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Investment History
- Business Angel Fund I operated until 2015.
- Business Angel Fund II will continue to invest until the end of 2023.
- Together with private investors, Business Angel Fund II has invested over €14M in 18 companies.
- The latest investment is in charging solutions for smart electric cars, Inbalance Grid.
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