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The company will be subordinate to the Ministry of Economy and Innovation which said it was the last stage of the company's establishment. The company's authorized capital is valued at 100.2 mln euros, according to data from the Center of Registers.

Earlier this week, Valstybes Investicinis Kapitalas's board elected Robertas Vysniauskas, an independent board member at Epso-G, a state-run energy holding, as its acting CEO from independent board members. The company plans to call a competition for its CEO with the help of a personnel selection agency.

Valstybes Investicinis Kapitalas is a limited partner of the business assistance fund, which is being established as a limited partnership, and will provide the state's contribution to the fund. Assisted by Valstybes Investicinis Kapitalas, businesses in Lithuania will be able to recover from coronavirus-induced consequences faster.

The assistance fund's planned investment portfolio is valued at 1 bn euros, and the state will invest 100 mln euros in its initial contribution and also plans to provide the state's guarantee of up to 400 mln euros for non-equity securities. The remaining funds will come from private and (or) institutional co-investors.