Newly Elected INVEGA Supervisory Board
A new INVEGA Supervisory Board of the National Development Institution (NDI) INVEGA has been selected through international selection method, which will ensure the effective management of the institution.
By the Resolution of the Government, Investicijų ir verslo garantijos , Ltd. (INVEGA) became the only financial institution with the maintained status of the National Development Institutions, and the newly selected Supervisory Board will be responsible for development of INVEGA’s operational strategy, achievement of the stated objectives and presentation of recommendations for development. The members of the Supervisory Board with international experience will contribute to the implementation of the NDI governance model proven by the best practices of foreign countries.
A unified investment strategy will help exploit synergies between different financial instruments, attract private investment and strengthen cooperation with other financial institutions. At the end of the consolidation phase of the National Development Institutions - NDI will be a reliable business partner pooling financial instruments in one place. Also, by mobilising existing financial resources and attracting new ones, NDI will increase investment in strategic areas of the country, contribute to the development of the capital market, strengthen energy independence and ensure the country’s economic transformation.
The newly elected Supervisory Board will be the only one in the whole group of NDI companies. The Supervisory Board is composed of 7 members with extensive experience in finance and business, both in the public and private sectors. The upcoming work of the Supervisory Board of the National Development Institution INVEGA will be to form the Management Board of INVEGA and to ensure a smooth further process of consolidation of the group of NDI companies.
Composition of the Supervisory Board:
Pascal Lagarde is the Executive Director of the French promotional institution Bpifrance. He is also a member of the Board of the European Investment Fund. P. Lagarde has extensive experience participating in the activities of the French national development institutions.
Aivaras Čičelis spent the last 25 years in the SEB Bank Group, 13 years of which - working for the SEB Bank Board. During this period, he had to manage various branches of the bank, to be responsible for the largest bank projects.
Saulius Galatiltis – an investment expert with more than 10- year experience, who was responsible for the management of financial assets of the Bank of Lithuania.
Daina Kleponė - Head of public company Versli Lietuva for 5 years, who was responsible for the promotion of exports, entrepreneurship and start-ups. In addition, D. Kleponė has more than 20-year experience in business management.
Three observers were also elected to represent the Ministry of Finance, Ministry of Environment and the Ministry of Economy and Innovation.
Irma Patapienė, Senior Advisor to the Investment Department of the Ministry of Finance has more than 10-year experience in administering the EU Funds’ resources, regulating the implementation of the EU investments, carrying out control and monitoring of the programmes.
Aurimas Saladžius, Head of the Group of Sustainable Development and Strategic Changes of the Ministry of Environment, has extensive experience working in collegial management or supervisory bodies, in the development of corporate activity management and strategies.
Povilas Kriaučeliūnas, Chief Specialist of the EU Investment Management Division, EU Investment Coordination Department of the Ministry of Economy and Innovation, has been actively working in the field of implementation of the EU investment measures for more than 7 years. Also, in the implementation and administration of various forms of State aid measures.
A new Supervisory Board has been elected for a four-year term.
Additional information
The main operational objectives the private limited liability company Investment and Business Guarantees (UAB Investicijų ir Verslo Garantijos) are to provide financial services, to implement and administer financial and other business financing instruments.
We would like to point out that by Government Resolution No 1041 of 19 October 2022 On the Investment of State Assets and the Increase of the Authorised Capital of the Private Limited Liability Company Investment and Business Guarantees, a group of National Development Institutions was formed, where the private limited liability company Investment and Business Guarantees (hereinafter — INVEGA) became the parent company, and other companies (VIPA, VIVA, ACGF) — its subsidiaries.
Last updated: 14-04-2023
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