Lithuanian Business Angel Network

The Lithuanian Business Angel Network (LitBAN), established in 2018, stands as a pivotal organization dedicated to fostering and professionalizing the angel investment landscape in Lithuania. Operating as a non-profit, LitBAN's core mission is to connect promising early-stage startups with experienced business angels, thereby mobilizing private capital for innovative ventures. The network plays a crucial role in educating potential angels, providing structured deal flow, and facilitating co-investment opportunities, which are essential for developing a robust startup ecosystem in the Baltic region.

LitBAN primarily focuses on pre-seed and seed-stage startups across various sectors, seeking high-growth potential. While LitBAN itself is a network rather than a fund, it enables its members to syndicate investments, allowing for larger capital injections than individual angels might provide alone. This collaborative approach is a hallmark of their operations, ensuring that startups receive not only financial backing but also valuable mentorship, industry connections, and strategic guidance from a collective pool of experienced investors.

The network has demonstrated significant impact since its inception. By the end of 2023, LitBAN members had collectively invested over €25 million into more than 150 startups, underscoring their substantial contribution to the Lithuanian innovation economy. In 2023 alone, LitBAN angels channeled approximately €7.5 million into 40 different startups, reflecting consistent activity and a strong commitment to supporting the next generation of entrepreneurs. These figures highlight LitBAN's role as a primary source of early-stage capital in the country.

Beyond direct investments, LitBAN actively works to enhance the angel investment environment through advocacy, networking events, and educational programs. They aim to increase the number of active business angels and improve the quality of investments, ensuring a sustainable flow of smart capital into the startup ecosystem. Their efforts contribute significantly to bridging the funding gap for nascent companies and accelerating their growth trajectories.