Daiva Rakauskaitė became a head of Lithuanian Business Angels Fund

Daiva Rakauskaitė became the chief executive officer of Lithuanian Business Angels Fund. She and other partners of the fund acquired management shares of the former CEO Arvydas Strumskis.

According to Daiva Rakauskaitė, in the next year, the company plans to establish a new fund for investments in Lithuania and Central and Eastern Europe. Arvydas Strumskis will advise portfolio companies of the fund and participate in the work of investment committees. Arvydas Strumskis has been a managing partner of Business Angels Fund since 2010. According to information on his Linkedin page, since October 2022, he has become a CEO at ARS Ventures.

Daiva Rakauskaitė is a Board manager and partner of the fund since April 2018, and she has 13 years experience of investing in startups.

Business Angels Fund is a Lithuanian fund for supporting early-stage Lithuanian startups. The main investor of the fund is the Lithuanian state-owned company INVEGA. It co-invests with business angel(s) on an equal basis with a ticket size of up to €600K. Its Business Angel Fund I worked until 2015, and current Business Angel Fund II will invest until the end of 2023. Together with private investors, Business Angel Fund II has invested over €14M in 18 companies. The latest investment is charging solutions for smart electric cars Inbalance Grid.