In the latest article by Verslo žinios, Open Circle Capital partner Audrius Milukas together with Deloitte, Contrarian Ventures and other market experts share their thoughts about the historical Private and Venture Capital growth in Baltics. Also, discusses the current state of Baltic startup ecosystem and funding opportunities. 📈💰
◼️"10 Years ago Venture Capital market barely existed in Lithuania, and now we have 2B EUR worth of startups and more than 10 funds that are ready to invest approx. 100M EUR."
◼️"More and more Lithuanian startups outgrow Lithuanian investors funding capabilities therefore they are looking to attract the attention of foreign organizations. In 2013, number of investments made together with foreign funds accounted for only 10% of all investments while in 2019 it reached 30%."
◼️"Although, the statistics is improving, we still have to catch up with leading countries like Israel or Estonia. We, investors, together with the government, must continue our joint efforts to strengthen the Venture Capital market. And one of the ideas might be to follow an example of the UK and provide tax benefits to business angels."