Coinvest Capital

Coinvest Capital is a sovereign venture capital fund established by the Lithuanian national development bank ILTE. The fund invests public funds from the EU and the Republic of Lithuania, alongside private investors, in promising European startups that create value for Lithuania. As of October 2025, the fund and its partners have invested in 51 startups and exited 6 investments, deploying over €58.6 million in venture capital, with €25.9 million contributed by Coinvest Capital. Under the profit-sharing model, private co-investors have contributed €13.2 million, while an additional €19.5 million has been invested under the pari-passu model. The fund offers a globally unique profit-sharing program, capping its annual return on investments at 4 to 8 percent. In the event of a successful exit, any return exceeding this cap is allocated to accredited private co-investors. Out of the €44.3 million in committed capital entrusted to the fund, €12.1 million remains available for new investments as of October 2025. Coinvest Capital's investment focus includes sectors such as GreenTech, ClimateTech, EnergyTech, Life Sciences & MedTech, DeepTech, Big Data & Artificial Intelligence, Space, Aviation & Other Transport solutions, and Defence, Deterrence & Dual-Use. The fund's investment stages range from Pre-Seed to Growth, Late Stage, and Distressed. Geographically, Coinvest Capital invests in Lithuania and other European countries, including Czechia, Denmark, Estonia, Finland, France, Germany, Latvia, Netherlands, Norway, Poland, Sweden, and the United Kingdom. The fund's portfolio encompasses industries like Advanced Materials, Biotech, Climatech, Deeptech, Digital Health, HRtech, Hydrogen, IT - Digital, Medtech, Mobility, Space industries, and Spacetech. Coinvest Capital is known for its unique structure as a sovereign VC fund, fully funded by the Lithuanian state and the EU, and operates as a silent investor with a capped annual return of 6% during the investment period. The fund's executive management team was fully renewed in 2022 and continues managing the existing portfolio and making new investments according to the renewed investment strategy and focus. Coinvest Capital is a wholly owned subsidiary of ILTE and applies policies, procedures, legal & normative acts, universal to all ILTE Group, unless the fund's specifics require a separate tailored document. The fund is committed to strengthening the Lithuanian startup ecosystem, sharing its expertise and insight at numerous industry events and conferences in Lithuania and abroad, mentoring startups of various accelerators, and joining juries during hackathons and pitch competitions. The managing director of Coinvest Capital is Viktorija Trimbel, who serves on the board of the Lithuanian Business Angels Association and has been awarded the Best VC Partner of LitBAN during its first five years of operations.