TGS Baltic has represented Lietuvos Energija in structuring the Baltics' first specialized corporate risk capital fund and in coordinating all documents related to the fund's establishment with fund manager Contrarian Ventures.
Lietuvos Energija will invest over EUR 5 million into the fund, and, according to TGS Baltic, Contrarian Ventures expects to attract investments from other investors as well. The fund’s investment horizon is five years. According to TGS Baltic, "selected teams of business ideas, which do not have a functioning prototype of their idea yet, will be able to expect an investment of up to EUR 50,000, whereas more advanced teams [may receive] up to EUR 300,000 or even more in exceptional cases." The firm reports that the fund will continue to exist for ten years.
TGS Baltic claims that "the innovation fund and the accelerator of energy start-ups will invest into smart energy projects [such as] smart networks, renewable resources, bioenergy, microgeneration, smart houses, big data and analytics, e-services, and other energy-related solutions. The activities of the fund will also include an accelerator, [and] acceleration programs will help authors of selected business ideas in developing business [and] provide them with mentoring and working environments where they will be able to share experience with other program participants."
Lietuvos Energija was advised by TGS Baltic Partner Marius Matonis and Senior Associate Mantas Gofmanas.