Vilnius-based venture capital firm Aneli Capital has launched a new €35mn fund aimed at early-stage technology companies across the Baltics, Poland and the wider Central and Eastern European region.

The firm plans to make around 20 investments over the next five years, concentrating on sectors including information and communications technology, robotics, energy, space, photonics, smart manufacturing and artificial intelligence solutions with demonstrable traction, Lithuania’s investment promotion company Invest in Lithuania announced on its website on December 16.

Founded in 2025, Aneli Capital focuses on backing high-growth startups at an early stage, with more than half of the new fund earmarked for Lithuanian businesses.

The fund is led by Daiva Rakauskaite, CFA, alongside partners Nerijus Baliunas, Jacek Blonski and Sabina Siniciene. Together, the team recognises what it sees as a gap in long-term, conviction-driven capital for founders operating beyond short-lived technology trends.

Aneli Capital intends to take a hands-on approach, offering operational support, rapid decision-making and founder-friendly investment structures. Typical investments will average around €1.5mn per company and will usually be deployed in several stages. During the fund’s first year, the firm expects to back up to eight startups while also overseeing exits from earlier investments.

The fund has secured backing from Lithuania’s National Development Bank, ILTE, as well as a fund managed by Warsaw-listed investment group Magna Polonia, reflecting growing institutional interest in the region’s technology ecosystem.