A new $41 million venture capital fund named Aneli Capital has launched in Vilnius to bolster the Central and Eastern European startup ecosystem. Managed by a team with over 15 years of investment experience, the fund will focus on early-stage companies in the Baltics, Poland, and the wider CEE region. Aneli Capital aims to provide strategic capital and hands-on support to drive innovation and prepare startups for subsequent investment rounds.
Addressing a Regional Funding Gap
Startups in Central and Eastern Europe often encounter significant hurdles in securing funding and scaling their operations compared to Western counterparts. Aneli Capital has been established to directly address this gap by offering founder-friendly terms and an efficient, rapid decision-making process. The fund's mission extends beyond financial backing, aiming to provide the necessary guidance for promising companies to overcome regional growth barriers.
A Strategy Beyond the Hype
Daiva Rakauskaitė, partner and fund manager at Aneli Capital, emphasized a philosophy centered on long-term value over transient market trends. The fund will deliberately look past industry hype cycles to identify companies building real products with proven economic models and early customer traction. This approach positions Aneli Capital as a committed partner for the entire entrepreneurial journey, ensuring sustained support beyond the initial excitement.
Investment Focus and Deployment
The fund will concentrate on high-potential sectors such as Information and Communication Technology (ICT), robotics, space, photonics, and energy. Over the next five years, Aneli Capital plans to execute approximately 20 investments, with an average ticket size of around $1.77 million distributed in tranches. More than half of the $41 million fund is designated for Lithuania, with the remainder allocated to startups in Latvia, Estonia, and Poland.
The firm's immediate plans include funding eight startups in the coming year while also managing exits from its team's previous investment vehicles. While acknowledging the current investor focus on artificial intelligence, Aneli Capital will prioritize AI solutions that are already functional or can demonstrate reliable practical results. This disciplined strategy reinforces the fund's requirement for startups to show measurable progress before receiving investment.
Experienced Leadership and Key Backers
Aneli Capital is steered by a veteran team that includes partners Daiva Rakauskaitė, Nerijus Baliūnas, and Jacek Blonski, alongside Investment Director Sabina Sinicienė. Their extensive background includes managing the Business Angel Fund II and co-founding influential organizations like the Lithuanian Venture Capital Association and LitBAN. This deep-rooted experience provides the fund with a competitive advantage in networking, negotiations, and identifying promising deep-tech ventures.
The fund's capital is anchored by the National Lithuanian Development Bank (ILTE) and a fund managed by the Warsaw-listed Magna Polonia. Miroslaw Janisiewicz, chairman of Magna Polonia, noted the investment serves to generate strong returns while fostering regional technological advancement. Similarly, Inga Beiliūnienė of ILTE highlighted that supporting startups is crucial for creating innovative solutions and strengthening the country's economic resilience.
The launch of Aneli Capital marks a significant development for the CEE technology landscape, injecting much-needed capital and expertise into the region. By focusing on sustainable growth, proven business models, and long-term partnerships, the fund is poised to cultivate the next generation of innovators. Its strategic approach promises to not only fuel individual startup success but also to strengthen the entire regional ecosystem for years to come.