Aneli Capital has officially launched a €35 million early-stage venture fund aimed at accelerating startup growth across Lithuania, Latvia, Estonia, Poland, and the broader Central and Eastern European region. The launch marks a significant addition to the region’s investment landscape, particularly for founders building in Information and Communication Technology, robotics, space, photonics, energy, and smart manufacturing.
The Vilnius-based fund is led by a team with more than 15 years of experience in venture financing and business development. During its first five years, Aneli Capital plans to make approximately 20 investments, with average initial investments of around €1.5 million deployed in multiple tranches. More than half of the capital is expected to be allocated to Lithuanian startups, with the remainder directed toward the rest of the Baltics, Poland, and other CEE markets.
The firm emphasizes founder-friendly terms and rapid decision-making as core components of its investment strategy. Its partners, including Daiva Rakauskaitė, Nerijus Baliūnas, Jacek Blonski, and Investment Director Sabina Sinicienė, bring deep experience as fund managers, angel investors, and ecosystem builders. Members of the team previously managed Business Angel Fund II and helped establish the Lithuanian Venture Capital Association and the Lithuanian Business Angel Network.
The fund’s sector priorities will include ICT, robotics, photonics, and smart manufacturing, alongside a portion reserved for artificial intelligence startups. Aneli Capital intends to prioritize AI technologies that have validated early performance or are already in testing phases with reliable applied results. The firm sees substantial opportunity in segments where CEE founders have historically been strong but remain underfunded relative to Western Europe.
Aneli Capital’s investors include the National Lithuanian Development Bank ILTE and Magna Polonia, a Warsaw-listed investment company whose fund continues to attract additional limited partners. In its first year, Aneli Capital plans to invest in eight startups while exiting several portfolio companies from earlier funds.
The launch comes at a time when AI investment is increasing across Europe and the United States. According to data cited from PitchBook, AI startups accounted for 34.5 percent of European venture deals in the first half of 2025, compared with roughly 60 percent in the US. As competition for high-growth startups intensifies, Aneli Capital aims to position itself as a long-term partner that supports founders beyond their earliest stages and prepares them for follow-on capital.
KEY QUOTES:
“Many investors lean in when a sector becomes fashionable and step back once the hype fades. We don’t work that way. We are going to look beyond hype cycles and focus on companies that build real products, attract paying customers early, and prove their economics.”
“Our goal is to be the partner that stays for the full journey, not just the exciting part at the beginning.”
“No matter the country, we are looking for truly promising founders whose startups are already delivering measurable growth and results. Startups seeking funding often ask for capital before demonstrating real growth, but it should be the other way around: first showing traction, then attracting investment.”
Daiva Rakauskaitė, Partner And Fund Manager
“We are excited to invest in Aneli Capital, as the fund has extensive experience in managing startups, and will soon be strengthened by highly qualified advisors. With this investment, we are aiming for two goals: to earn a solid return for our investors by investing in companies operating in progressive sectors, while at the same time supporting young tech companies from the CEE region.”
Miroslaw Janisiewicz, Chairman Of The Management Board At Magna Polonia
“ILTE has consistently supported innovation development and experimental activities in companies and teams, because this is exactly how solutions driving long-term economic progress are created. By investing in startups, we help develop new technologies while also strengthening the country’s competitiveness and resilience to future challenges.”
Inga Beiliūnienė, Head Of The International Relations And Partnerships Department At ILTE
