Research venture capital in Lithuania by matching your founder or company connection, financing milestone and the investor's published mandate. A Vilnius software company and a life-science spinout may need different evidence and funding routes.
This selected guide compares 19 Lithuania-connected and regional investment routes, including one clearly labeled angel network. Some managers invest across the Baltics or Europe, so check the current fund rather than assuming all are Lithuania-specific.
Choose the right Lithuanian funding route
- Record the company connection. Separate Lithuanian founder, team, business and customer facts.
- Match the milestone. A first technical proof, seed customers and a growth round need different material.
- Check investor scope. Lithuania-linked co-investment, Baltic founder mandates and wider European theses differ.
- Identify the decision maker. A venture fund, accelerator and angel network each use distinct processes.
Compare 19 Lithuanian investor routes
Use provider type, stage and geographic connection together. An office address is not a promise of eligibility. Where the current source does not establish a precise entry stage, the table leaves that question open.
Selected Lithuania-connected and regional investor routes researched October 29, 2026. An investor's Baltic or European mandate does not guarantee individual company eligibility. On small screens, scroll the table sideways to see every column.
| Investor or network | Provider type | Stage | Sector focus | Geographic connection |
|---|---|---|---|---|
| FIRSTPICK | First-check venture firm | Inception and pre-seed | Generalist technology with AI-first software focus | Founders from Lithuania, Latvia and Estonia, including founders headquartered elsewhere |
| Specialist VC | Early-stage venture firm | Pre-seed through Series A | B2B software; fintech; platforms; deep technology | Explicit founder connections to Estonia, Latvia, Lithuania, Finland and Ukraine |
| Practica Capital | Baltic venture investor | Pre-seed, seed and Series A | Technology businesses; company-specific | Baltic investment focus; Vilnius office |
| Iron Wolf Capital | Deep-tech and defense venture firm | Confirm current entry round | Deep tech; AI; defense and dual-use | Baltic Sea region, Ukraine and diaspora; team across regional hubs |
| Superhero Capital | Software venture firm | Seed | Software-driven startups | Primary focus on Finland and the Baltics |
| Voima Ventures | Scientific deep-tech venture firm | Pre-seed and spinouts through selected later rounds | Science-driven deep technology | Nordics and Baltics; Helsinki and Stockholm offices |
| Inventure | Regional generalist venture firm | Confirm current entry stage | Deep tech; consumer; health technology; AI; B2B software | Primarily Nordics and Baltics; Helsinki and Stockholm offices |
| Superangel | Early-stage deep-tech venture firm | Pre-seed and seed; confirm the current entry route | Robotics; energy; AI; sensing and other deep technology | Baltic and Nordic roots; wider European investing |
| Change Ventures | Baltic-connected venture firm | Confirm the current fund and entry stage | Technology; vehicle-specific | Baltic ecosystem; Tallinn contact |
| Beamline | Cleantech accelerator and investment route | Pre-seed and seed; cohort-specific | Cleantech; energy; carbon and resource technologies | European focus with Baltic and Nordic emphasis |
| NordicNinja VC | Northern European technology venture firm | Series A focus; individual exceptions exist | Deep tech; decarbonization; digital society | Northern European focus; Helsinki and Stockholm presence |
| Karma Ventures | Deep-tech software venture firm | Late seed and Series A | Deep-tech software with initial commercial traction | European companies targeting global markets; Tallinn base |
| Inovo VC | Early-stage venture firm | Primarily seed; occasional earlier or later investment | Multi-vertical technology; software; AI; healthcare | Published CEE country list and founder diaspora |
| BADideas.fund | Early-stage venture fund | Pre-seed and seed | Application-layer software; AI-enabled companies | Central and Eastern European founder ecosystem |
| Credo Ventures | Early-stage venture firm | Pre-seed and onward; current fund-specific | Technical companies; generalist founder-led strategy | Central and Eastern Europe and its founder diaspora; Prague office |
| Day One Capital | Early-stage venture firm | Pre-seed and seed | AI software; robotics; cybersecurity; infrastructure and creative tools | CEE founders and diaspora; Budapest office |
| Coinvest Capital | Public-backed venture co-investment fund | Stage-agnostic; vehicle and co-investor criteria apply | Technology including climate, health, AI and other strategic areas | Startups that bring value to Lithuania |
| Open Circle Capital | Early-stage technology venture firm | Early stage; confirm current fund | ICT; robotics and other high technology | Lithuanian public-institution funding connection; verify current company mandate |
| Lithuanian Business Angel Network | Member-led angel network | Early-stage; member and syndicate-specific | Company-specific | Lithuanian startup ecosystem and wider founder applications |
Compare Lithuania-linked and Baltic founder criteria
Coinvest describes startups bringing value to Lithuania. FIRSTPICK explicitly backs founders from Lithuania, Latvia and Estonia, including founders based abroad. Specialist lists the three Baltic countries among its founder connections.
Wider regional or European investors may have other fund criteria. An office, public funding source or portfolio example is not a universal eligibility rule.
Separate co-investment from an angel-network application
Coinvest describes investing alongside business angels or other investors; LitBAN is a community of individual angels. These routes can complement one another but are separate decisions, and participation does not guarantee a syndicate.
Record the relevant fund, the actual prospective co-investor and the current source for each requirement. Do not count each fund vehicle or network member as another independent manager.
Match first-check timing and technical thesis
FIRSTPICK describes inception and pre-seed; Practica presents Baltic early-stage strategies; Karma describes late seed and Series A deep-tech software. Iron Wolf describes deep technology and defense, while Open Circle describes ICT, robotics and high technology.
Separate technical validation, customer evidence and the next commercialization milestone. A specific portfolio round is not proof of a new applicant's fit.
Build a useful local-to-regional shortlist
Start with documented Lithuania-relevant routes, then add Baltic or wider European investors where the fund's current stage and thesis match the company. Write one source-backed fit reason and one unresolved question for each.
Use the Baltic overview to compare wider regional mandates; this country guide focuses on the Lithuanian connection and local co-investment process.
Investor profiles and official routes
These profiles are a research aid, not a performance ranking. Read the current strategy and portfolio before sharing a deck. A public contact route does not establish that a firm has available allocation for your round.
FIRSTPICK
First-check venture firm. Founders from Lithuania, Latvia and Estonia, including founders headquartered elsewhere. FIRSTPICK explicitly describes founders from the three Baltic countries and a first-check strategy. Verify the actual founder connection and current process.
FIRSTPICK: official investment information
Specialist VC
Early-stage venture firm. Explicit founder connections to Estonia, Latvia, Lithuania, Finland and Ukraine. Specialist publishes specific founder-country connections and early-stage investment criteria. Check the actual company and relevant fund rather than assuming every European startup fits.
Specialist VC: official investment information · Contact
Practica Capital
Baltic venture investor. Baltic investment focus; Vilnius office. The regional scope is an explicit fit filter, not simply the location of the manager. Identify the relevant Baltic company connection and stage. Later portfolio milestones do not establish a new cheque or follow-on entitlement.
Practica Capital: official investment information · Contact
Iron Wolf Capital
Deep-tech and defense venture firm. Baltic Sea region, Ukraine and diaspora; team across regional hubs. Use the documented geographic and technical remit. Explain the actual use case and development proof without assuming that a wider European address qualifies. A defense label is not a substitute for product, customer or compliance evidence.
Iron Wolf Capital: official investment information · Pitch Us
Superhero Capital
Software venture firm. Primary focus on Finland and the Baltics. Superhero explicitly describes a Finland and Baltics focus. Its portfolio's later follow-on financings should not be substituted for its stated initial seed strategy.
Superhero Capital: official investment information · Contact us
Voima Ventures
Scientific deep-tech venture firm. Nordics and Baltics; Helsinki and Stockholm offices. Prepare the scientific result, outstanding development risk and a route from research to a scalable business.
Voima Ventures: official investment information · Get in touch
Inventure
Regional generalist venture firm. Primarily Nordics and Baltics; Helsinki and Stockholm offices. Use the regional generalist remit to test fit, and ask which current vehicle and entry round apply.
Inventure: official investment information · Contact
Superangel
Early-stage deep-tech venture firm. Baltic and Nordic roots; wider European investing. Superangel describes its Baltic and Nordic roots alongside European investing. Explain the technical evidence and intended application, and confirm the relevant entry stage.
Superangel: official investment information
Change Ventures
Baltic-connected venture firm. Baltic ecosystem; Tallinn contact. Change presents a Baltic investor platform and resources. Confirm the current fund's sector and entry-stage criteria directly rather than treating an older funding report as a live mandate.
Change Ventures: official investment information · Contact
Beamline
Cleantech accelerator and investment route. European focus with Baltic and Nordic emphasis. Beamline describes an accelerator and early investment route. Cohort support and investment are related but distinct decisions; check the current batch and terms.
Beamline: official investment information
NordicNinja VC
Northern European technology venture firm. Northern European focus; Helsinki and Stockholm presence. The published stage focus is useful when assessing a more mature financing; an individual seed transaction is not a universal entry rule.
NordicNinja VC: official investment information
Karma Ventures
Deep-tech software venture firm. European companies targeting global markets; Tallinn base. This is a more specific readiness test than a broad deep-tech tag. Prepare the underlying software innovation and early commercial evidence. A lab result without a software business or customer traction is not automatically the same proposition.
Karma Ventures: official investment information · Contact
Inovo VC
Early-stage venture firm. Published CEE country list and founder diaspora. Inovo's official criteria explicitly list CEE countries and diaspora founders. Check the current fund and fit, rather than assuming a generic regional label guarantees eligibility.
Inovo VC: official investment information
BADideas.fund
Early-stage venture fund. Central and Eastern European founder ecosystem. Its published strategy describes early software and CEE. Check current fund criteria and avoid treating a broad regional label as guaranteed eligibility.
BADideas.fund: official investment information
Credo Ventures
Early-stage venture firm. Central and Eastern Europe and its founder diaspora; Prague office. Credo explicitly describes CEE and diaspora founders and early investment. Confirm the current fund's scope and the company's actual connection.
Credo Ventures: official investment information
Day One Capital
Early-stage venture firm. CEE founders and diaspora; Budapest office. Day One describes early investment across CEE and names its current technology focus. Explain the team's real founder and market connection before choosing the route.
Day One Capital: official investment information · Contact
Coinvest Capital
Public-backed venture co-investment fund. Startups that bring value to Lithuania. Coinvest explicitly co-invests alongside business angels or other investors. Select its company-funding route and check the current co-investment requirements; the network itself is not a guaranteed syndicate.
Coinvest Capital: official investment information
Open Circle Capital
Early-stage technology venture firm. Lithuanian public-institution funding connection; verify current company mandate. Open Circle describes technology-company investment and says the Lithuanian public sector is a major stakeholder. Ask directly about the current vehicle and company eligibility rather than assuming state participation sets a universal rule.
Open Circle Capital: official investment information
Lithuanian Business Angel Network
Member-led angel network. Lithuanian startup ecosystem and wider founder applications. LitBAN describes a community of angel investors. Its network and individual investment decisions are distinct; count the network once rather than treating every member as a committed funding source.
Lithuanian Business Angel Network: official investment information · Contact Us
Worked example: a Lithuanian scientific-software team
Illustrative example, not an investment recommendation. A fictional Vilnius team has a software prototype used by two research labs and seeks capital to validate a repeatable customer workflow.
Questions for a fictional Lithuanian startup
| Research route | Possible fit | Question to verify |
|---|---|---|
| FIRSTPICK | Baltic founders at inception and pre-seed | Does the company's evidence match the current first-check thesis? |
| Practica Capital | Baltic early-stage investing | Which current fund and entry stage apply? |
| Coinvest Capital | Lithuania-linked co-investment | What co-investor and company requirements apply? |
| LitBAN | Angel-network route | Does the current process fit the company's stage? |
No named investor has evaluated the fictional company.
Copy your Lithuanian investor shortlist worksheet
Use one record for each investor and specific vehicle. Keep the source date beside your fit decision.
LITHUANIA INVESTOR FIT CARD
Company, buyer and product: [shareable facts]
Lithuanian founder, company or team connection: [actual facts]
Current technical and customer evidence: [details]
Next financing milestone: [proof to build]
Investor and actual fund or network: [names]
Geography, stage and thesis: [official source + date]
Co-investment or network requirements: [verify]
Open question, owner and next action: [details]Research the shortlist with Aurora, Claude or Codex
Give your AI teammate company facts you are authorized to share. Ask for sourced comparisons and open questions, not automatic introductions or outreach.
Be my Lithuania investor-research teammate.
Company, product and buyer: [facts I may share]
Founder, company and Lithuanian connection: [actual facts]
Customer and technical evidence: [details]
Next financing milestone: [proof to build]
Candidate investors and vehicles: [names]
Use current official sources to compare company criteria, stage, sector and geography.
Separate Lithuania-linked funds, Baltic strategies, wider European managers and angel networks.
Explain co-investment requirements without assuming a syndicate is committed.
Deduplicate managers, affiliated programs and network members.
Return source/date, supported fit, open questions and next research action.
Do not invent available funding, introductions or eligibility.
Do not contact investors or provide personalized legal, tax or financial advice.Keep the resulting investor records, relationship context and next actions together in Finta. The investor-prospecting workflow covers the next execution step.
Methodology, research date and local guides
Research checked October 29, 2026 by the Finta Editorial Team with AI-assisted source review. We reviewed publicly available sources, including official strategy, portfolio, location, fund-backer or founder-contact information. Firms with multiple offices count once; angel networks count as networks, not one committed pooled fund. We distinguish local presence from investment mandate and company eligibility. We do not infer check sizes, investor returns, lead behavior or open allocation from a portfolio logo.
We reused provider-level Baltic and CEE research and added current official Lithuanian co-investment, venture and angel-network sources. Regional managers are labeled by their actual published remit; a manager with several funds is counted once, and LitBAN counts as one network route.
This selection is not exhaustive or a ranking. Check the current company-investment vehicle, founder connection and application requirements directly.
Informational purposes only. Finta is not a law firm or accounting firm. This is general information, not personalized financial, legal or tax advice. Discuss financing and tax matters with your attorney or accountant.
This is a selected research directory, not an exhaustive register or sponsored ranking. Confirm the current vehicle, team and process directly before relying on a fit decision.
Make the next fundraising step specific
Choose a small set of defensible matches, record the open question, and assign the next action. Use our investor-shortlist guide and warm-introduction guide to prepare the conversation. A longer list should make the research better, not turn into an indiscriminate mailing list.