BaltCap, the largest private equity and venture capital investor in the Baltic countries, provided seed capital for mobile commerce firm YP MobileWorks UAB. This is the fourth investment made by BaltCap’s Lithuania SME Fund.
YP MobileWorks is a mobile commerce start-up, developing platform technologies and visually engaging mobile apps aimed at consumer markets in the largest metropolitan areas globally.
Lithuania SME Fund is a growth capital fund organized by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. JEREMIE Holding Fund managed by the EIF is financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme. Total size of Lithuania SME Fund is EUR 20 million and it provides growth equity financing up to EUR 3 million per company for small- and medium-sized enterprises based in Lithuania.
Lithuania SME Fund has already invested into Ygle, building engineering systems solution and service provider, Impuls LTU, the largest health club operator in Lithuania, and Labochema, the leading pan-Baltic laboratory supplies provider.
Further information:
Kornelijus Celutka
Investment Director
BaltCap
Tel.: +370 5 254 6713
e-mail: kornelijus.celutka@baltcap.com