€35M Fund Launches to Support Baltic and CEE Startups

A new €35 million fund has been launched by Aneli Capital to support startups in the Baltic and Central and Eastern European (CEE) regions. The fund, based in Vilnius, Lithuania, aims to target high-growth sectors in technology, focusing on information and communication technology (ICT), robotics, photonics, space, and energy. With an emphasis on rapid decision-making, the fund plans to back approximately 20 companies over the next five years.

Funding Priorities and Regional Focus

More than half of the fund is allocated specifically for Lithuanian startups, reflecting a strong potential identified in sectors such as photonics and manufacturing within the country. The remaining funds will be directed towards supporting startups in Latvia, Estonia, and Poland. The fund primarily targets early-stage startups to strengthen the ecosystem, enhance competitiveness, and build resilience within these regions.

Aneli Capital's investment strategy is particularly focused on advanced technologies. The fund will only target artificial intelligence (AI) ventures that have proven products, ensuring a level of maturity and viability in the projects it supports. This strategic focus is designed to address the current challenges of limited funding available to startups in the Baltic and CEE regions.

Backing from National Development and Experienced Team

The Lithuanian National Development Bank provides the financial backbone for the fund, highlighting a commitment to fostering innovation and entrepreneurship within the region. Aneli Capital, the driving force behind the fund, boasts an investment team with over 15 years of experience, bringing a wealth of knowledge and expertise to the table.

The newly launched fund is part of a broader effort to cultivate the early-stage startup ecosystem by providing much-needed capital and support. The initiative is expected to fortify the technological capabilities of the region, ultimately contributing to job creation and economic growth.

Addressing Funding Gaps and Supporting Growth

The fund addresses the limited funding available to startups in the Baltic and CEE regions by offering targeted investments in sectors with strong growth potential. By concentrating on ICT, robotics, photonics, space, and energy, Aneli Capital aims to support companies that are at the forefront of technological innovation.

Moreover, the fund's emphasis on early-stage startups underscores its role in nurturing the foundational growth of businesses that could become significant players in the market. This approach not only strengthens the startups themselves but also enhances the overall competitive landscape of the regions involved.

Future Prospects and Strategic Initiatives

In addition to the existing fund, the federal government plans to launch two investment funds in 2026, targeting Nigerian tech and creative startups. This initiative is part of President Tinubu's Renewed Hope Agenda, aiming to stimulate job creation nationwide, with Ventures Platform appointed as the Technology Fund Manager.

The iDICE programme, supported by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), represents a $617 million funding effort. It targets Nigerians aged 15 to 35, focusing on skills and enterprise development. This collaboration is designed to tackle youth unemployment by fostering skills and enterprise development.

Overall, these initiatives reflect a growing recognition of the need to support emerging markets and technological innovation through strategic investments and collaboration.