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The fund management company LitCapital together with the European Investment Fund (EIF) established a development capital fund KB LitCapital I in 2020. worked 6.83 million. Net profit (€ 12.7 million in 2019) and EBITDA of the fund-managed holding company in 2020. grew an average of 40%.
The majority of LitCapital I’s investment portfolio has already been sold through the sale of seven investment shares, which has so far earned LTL 33.1 million. Net profit in euros. The capital invested by the companies in the portfolio grew 3.2 times on average and the fund’s annual return is 25% IRR. The average annual return after tax over the useful life of the fund was 9 percentage points higher than the Cambridge Associates Emerging Markets Private Equity & Venture Capital Index in Europe.
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Compared to the PME (Public Market Equivalent) indicator, which reflects the fund manager’s ability to generate returns (Alpha) and compares the performance of a private equity fund with an investment of a suitable size, the Baltic Stock Index it has significantly exceeded the Baltic average. since the beginning of the fall of the fund stock index gr. In terms of management fees, at the fund level, the net fair market equivalent (PME) exceeded almost 7 percentage points, while the benchmark for private investors outperformed by more than 19 percentage points during the decade.
2020 LitCapital carried out two transactions: the sale of a 44% stake in the logistics company NNL LT and an additional investment in the optical technology company UAB Altechna (increasing LitCapital’s stake from 40% to 100%). The investment in Altechn will provide additional capital to finance ambitious business development plans. In addition, in 2020 LitCapital became the first Lithuanian venture capital fund to receive the prestigious RealDeals award from the venture capital and private equity industry for the best Central and Eastern European transaction in which an investment was made in UAB Baltik. Vairas. In this nomination, LitCapital competed for the award with funds such as MidEuropa, Enterprise Investors, Innova Capital, Arx Partners.
LitCapital currently manages two development capital funds: 34 million LTL. Eur LcX Opportunity Fund, co-founded with INVEGA, and 25 million euros. Eur Litcapital I KB, established under the JEREMIE program together with the EIF. Also three portfolio companies: AB Audimas (manufacturer of sports and leisure clothing established in 1931), UAB Eldes (manufacturer and manufacturer of security systems), UAB Altechna (manufacturer of optical systems, optical coatings). The LitCapital team, in cooperation with other private shareholders, invests in the development and development of medium-sized companies. Investments include technological development, new products, increased production capacity, recapitalization, acquisitions of other companies, partial purchase of shares.
www.litcapital.lt
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