In response to growing security concerns, Lithuania is investing 5% to 6% of its GDP in military spending, particularly in defense startups. Coinvest Capital, Lithuania's sovereign VC fund, has been a pioneer by focusing on defense investments without requiring civilian use cases. Under the leadership of Viktorija Trimbel, Coinvest has invested €6.8 million into defense tech since 2023. The fund emphasizes co-creation, partnering with angels and other VCs to uplift Lithuania's defense innovation efforts in a geopolitical landscape marked by historical tensions.
"We were the first in the region [to be] fully authorized to do defense investments back in March 2023," said Viktorija Trimbel, its managing partner since February 2023.
Co-creation is another notion that Lithuania often emphasizes, as does Coinvest. As its name suggests, the early-stage fund is co-investing into startups with business angels and other VCs.
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