New Lithuanian JEREMIE Fundsby hvca
EIF, 26 July 2012
The European Investment Fund (EIF) has committed EUR 6m into Practica Seed Capital Fund (Seed Fund), a seed capital fund focusing on new idea development opportunities in Lithuania. The deal has been signed under the local JEREMIE initiative (Joint European Resources for Micro to Medium Enterprises). In parallel, a Practica Venture Capital Fund has been established with a targeted size of EUR 15.7m, where EIF is investing EUR 11 m from the JEREMIE Holding Fund. This venture capital fund could potentially provide follow-on investments for the ideas developed under the Seed Fund, but will also invest into existing high-growth companies.