Daiva Rakauskaitė has recently taken on the role of Chief Executive Officer at Lithuanian Business Angels Fund, after purchasing the management shares of former CEO Arvydas Strumskis, along with other partners of the fund. While Strumskis is no longer involved in active management, he will continue to advise the fund’s portfolio companies and participate in investment committees.
Under Rakauskaitė’s leadership, the company is planning to launch a new fund next year that will focus on investing not only in Lithuania but also in Central and Eastern Europe. The company is actively seeking early-stage Lithuanian startups to invest in and has already invested over €14 million in 18 companies.
The success of Business Angels Fund II’s portfolio companies in 2022 is impressive, with a total of €4.4 million in EBIDTA and €35 million in sales, nearly triple that of the previous year. The fund’s portfolio companies also employed 244 individuals by the end of the year.
The company attributes its success to its highly professional and engaged team, which includes Jacek Blonski, Nerijus Baliunas, Sabina Sinicienė, and other management and information technology advisers. Business Angels Fund I and II, along with private investors, have invested a total of €35 million in 47 companies in Lithuania.