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LitCapital successfully exits Brolis Semiconductors

2017-09-18

LitCapital, a dedicated growth equity investor in the Baltics, has successfully exited Brolis Semiconductors.  This is the third successful exit completed by LitCapital I KŪB fund.

LitCapital was the very first investor in „Brolis Semiconductors“ technology company which was founded in 2011 after two brothers Kristijonas and Augustinas Vizbaras completed PhD studies in physics at Technology University of Munich (TUM). The company develops semiconductor infrared technologies focused on laser and sensing markets. LitCapital invested close to EUR 3M.

„We invested almost 6 years ago because of high competence the founders gained in TUM and unique technology which they were developing. The application of this technology could be very wide and this was the opportunity and curse at the same time. You can’t afford trying too many opportunities when you are very small company. Second, we invested into this company because of the semiconductors technology, which is a huge global market with high growth potential. Traditionally, Lithuanian laser sector competence is based in relatively narrow solid state laser segment with applications mostly in science and R&D areas. Semiconductor technology is new competence in Lithuanian laser sector.

LitCapital investment allowed achieving all important initial milestones for the company, such as establishing laboratory, assembling a team of researchers, patenting its technology and starting a relationship with global blue-chip technology customers and finally reaching to international blue-chip investors. We see Brolis Semiconductors as an extremely successful investment that has strengthened high tech sector in Lithuania. We are impressed by the speed of technological improvements and business growth and wish them to maintain same pace in the future. Especially because our exit is part of a new investment round when one of the leading global laser system technology companies would join as a new investor. In case it is completed successfully, it will mark a new step not only in this company, but will make a huge positive effect to the whole laser sector of Lithuania in a comparable way like it already happened to biotech sector more than 10 years ago. “- says Šarūnas Šiugdža, Founder and Managing Partner of LitCapital.

LitCapital achieved return on investment exceeding 20% IRR. In 2016 LitCapital has divested its holdings in Putokšnis and Lignoterma, which also generated solid positive returns to LitCapital investors. Currently LitCapital has ownership in NNL LT (warehousing, logistics), Altechna (optics, optical coatings), Eldes (smart intrusion alarm systems), Baltik Vairas (electric and city bicycles), MPG (healthcare clinics chain).

LitCapital is a EUR 25 million growth capital fund established in cooperation with European Investment Fund (EIF) in 2010 under the JEREMIE initiative. LitCapital invests into growth of private SMEs in Lithuania. The fund is aimed at long term investments in private enterprises seeking faster business growth and expansion. Investment size varies between EUR 1-3 M and investment horizon is between 3 and 6 years. Currently LitCapital is raising a new pan-Baltic growth fund EUR +30M which will start investments in Q1 2018.

Šarūnas Šiugžda, „LitCapital“ Managing Partner, tel. +370 5 205 4479, e-mail  sarunas.siugzda@litcapital.lt, www.litcapital.lt

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