“Triniti Jurex” together with “Startup Lithuania”, “Practica Capital” and “Go Vilnius” initiated the “Dealroom” Lithuanian Startup Report. The report aims to analyze the changes and trends in the startup ecosystem in 2023.

Despite the economic uncertainty and tense geopolitical situation in 2023, according to “Dealroom” data, Lithuania’s startup ecosystem continued to grow steadily with three unicorns and remains a leader in Central and Eastern Europe.

According to the latest “Dealroom” review, assessing the period from 2018 to 2023, the value of Lithuania’s startup ecosystem surged more than sevenfold, from 1.9 to 13.7 billion euros, constituting a third (31 percent) of the overall value of the Baltic States region. In terms of venture capital investments attracted in 2023, Lithuania’s startup ecosystem rose by four positions.

Giedrė Čiuladienė, a partner at “Triniti Jurex,” noted significant legal changes in Lithuania in 2023, including the legalization of different share classes, reflecting a more favorable attitude towards investors.

According to “Dealroom” data, startups founded and based in Lithuania attracted 292.3 million euros in investments in 2023, approximately 30 percent less than in 2022 when the ecosystem attracted 414.3 million euros but exceeded pre-pandemic levels. Analysts from “Dealroom” mentioned that venture capital investments in Europe decreased by an average of 38 percent.

The record-breaking 2021 investment landscape of Lithuania’s startup ecosystem was significantly influenced by the impressive 250 million euros deal with “Vinted,” while the results in 2022 were impacted by the emergence of two more unicorns – “Nord Security” and “Baltic Classifieds Group.”