About VCA

Lithuanian Private Equity and Venture Capital Association (LT VCA) was established by UAB LitCapital Asset Management, BaltCap UAB and UAB SEB Venture Capital in May 2009. Private Equity (PE) and venture capital (VC) investments have been present in Lithuania since the beginning of 90s. Currently, we have 31 active company / member covering different types of venture capital business activities: fund management companies, consulting firms, lawyers, public institutions etc., who support and advise investors and entrepreneurs in the structuring and management of their partnerships. The members consist of 10 full members and 21 associate member.

Apart from its services on behalf of members (monitoring of legal, regulatory and tax issues, research studies and statistics, training, development and communication, etc.), LT VCA serves as a central platform for representation and promotion of the VC business to institutional investors, opinion leaders, and public policy makers. The association helps to improve financing of the economy, for small business in particular, as well as promote economic growth and entrepreneurial spirit. LT VCA is open to cooperation with venture capital funds, asset management funds, investment funds, business angels, legal offices, financial consultants and all other players involved in the market of direct investments.

Our Mission

Our mission is to bring together the VC industry professional competence and to develop and or promote Lithuanian Private Equity and Venture Capital industry.

Our Goals
  • Develop standards, pursue strict compliance and design best practices, promoting self-regulation of the industry.
  • Act as a lobbying force on PE/VC related issues.
  • Promote Venture Capital to institutional investors and entrepreneurs on local, national and international level.
  • Increase institutional investors’ awareness of the performance of Lithuanian VC market and the expertise of its professionals.
  • Foster research and innovation through cooperation with universities, enterprises and other stakeholders.
  • Foster the growth of Lithuanian capital market by providing businesses with capital and liquidity.
Board
Arvydas Soročka
Arvydas Soročka
Chairman of the Board

Arvydas has been a Partner of LitCapital since its incorporation in 2010. Previously he worked as a Chief Executive at management consulting company SAVVIN UAB, which he founded back in 2000. During his career at SAVVIN he carried out a number of projects in business management and finance consulting. In addition to that he helped to raise over LTL 150 M from EU and other funds for business expansion and development projects for company’s clients. Arvydas started his career at an international auditing firm Arthur Andersen in 1997. Later he worked as an external CFO in Philips Lietuva UAB. Arvydas is a graduate of the Baltic Institute of Corporate Governance and has master’s degree in business administration from Kaunas University of Technology.

Silvestras Tamutis
Silvestras Tamutis
Board member

Co-founder and partner of Practica Capital, VC&PE firm investing in Baltic ventures and high-growth SMEs, which have an ambition to become regional, international and global players or target leading positions in their national markets. Previously investment director at BaltCap, pan-Baltic PE firm, and associate director at Evli, pan-Baltic-Nordic investment bank, with 19 years of combined experience in financial markets.

Tadas Gudaitis
Tadas Gudaitis
Member of the Board

Tadas Gudaitis is CEO of “Swedbank Investment Management” in Lithuania. He has more than 13 years’ experience in pension accumulation, life insurance and investment management areas. Last 9 years Tadas Gudaitis is working is “Swedbank”. In 2010 he got PhD in Economics in Vilnius University (Thesis: The evaluation of pension system reform results).

Kornelijus Čelutka
Kornelijus Čelutka
Member of the Board

Since 2010, Kornelijus is an Partner at BaltCap, the largest PE&VC firm in the Baltics. Before, Kornelijus was a Partner at regional venture capital firm MTVP and worked at tech M&A team of Deutsche Bank in London. Kornelijus holds an MBA from the University of California, Berkeley, Haas School of Business and an undergraduate degree from Vilnius University. He also serves on the boards of public institutions such as Vilnius Marathon and Misija Sibiras.

Arvydas Strumskis
Arvydas Strumskis
Member of the Board

Fund Manager, over 15 years of experience in private equity fund management, over 7 years – in start-ups and SME investment and business development, and 8 years of experience in management consulting.

Starting 2010 Mr. A. Strumskis is the Partner at Business Angels Fund I and holds several Board positions at portfolio companies.

Arvydas Strumskis acquired of his experience during 1998-2005 working as a management team member for the Baltic Post-Privatisation Fund established by the European Bank for Reconstruction and Development.

During the period of 2000-2009 Arvydas Strumskis was a member of the Board in Narbutas ir Ko UAB, Lietuvos Energija AB, Mabilta UAB, Itella UAB, DOOR Training and Consulting Baltic UAB, and the real estate fund management company Lords LB Asset Management, UAB.

In 1998, Arvydas Strumskis worked as the Head of Siar-Bossard (later merged with Gemini Consulting) branch in Lithuania, in 1997 – manager of the company’s branch in the Ukraine. Major clients of the company then included a number of international companies exploring strategic development possibilities in the Baltic States, such as Baltic Beverage Holding, Tamro, Statoil, Assi Domain, and other Scandinavian and French companies.

Arvydas Strumskis is a graduate of the Faculty of Mathematics of Vilnius University, and the CapGemini International Business School in Paris.