“The negotiations are in the final stage, there are preliminary agreements... We are investing in development,” Šarūnas Šiugžda, LitCapital’s founder and managing partner, told BNS. The fund planned to invest the maximum amount possible, i.e. up to 3 million euros, in several stages, he added.
Altechna says that it has been engaged in photonics and laser research since 1996. The company exports nearly all of its production and also imports laser optics, crystal, laser, and optomechanical products to Lithuania.
Last Friday, LitCapital I applied to the Competition Council for the clearance of its acquisition of up to 25.04 percent of Altechna’s shares.
Altechna would be the sixth company to be added to the fund’s investment portfolio.
LitCapital manages a 25-million euro risk capital fund that has been set up together with the European Investment Fund (EIF).
