It is the seventh fund’s investment. Fresh capital will be used to finance the purchase of additional technological equipment and increase in-house R&D capacity, the company said.
“Our latest investment is a very attractive opportunity to contribute to the growth and development of a company that is involved in high value added high-tech industry. We firmly believe that additional capital and the ability to use fund’s team management experience and network will significantly increase company’s financial and development capacity to create and commercialise new systems and products in the field of optoelectronics and grow the business very substantially. We are fascinated by the company’s intellectual potential. Almost all products and services are being sold worldwide,” said Šarūnas Šiugžda, the founder and managing partner of LitCapital.
The global optoelectronics market is expected to grow at an annual rate of 8.7 per cent until 2015 according to the available research data and market forecasts. This is a much higher growth rate than the expected growth rate of global economy and growth in other traditional sectors.
LitCapital is a growth capital fund, established in cooperation with the European Investment Fund in 2010 under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative. The €25m fund invests in small – medium size enterprises in Lithuania.
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