# Business Angels Fund

> Business Angels Fund is a VC fund in Vilnius backing Software and Information Technology. See 16 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Vilnius, Lithuania
- Total investments: 16
- Last investment: Nov 2024
- Lead investor: 25%
- Fund size: $12M
- Last fund: Jan 2018
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/llp-business-angels-fund-i-k-b-verslo-angel-fondas-i/
- Website: https://angelsfund.eu/

Business Angels Fund is a VC fund in Vilnius focused on Software and Information Technology. BAF is a venture capital firm which invests in startups, early stage companies and SMEs in Baltic region

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 4 | 25% |
| Information Technology | 4 | 25% |
| Mobile Apps | 2 | 13% |
| Financial Services | 2 | 13% |
| Information Services | 2 | 13% |

30 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 9 | 56% |
| Pre-Seed | 2 | 13% |
| Venture - Series Unknown | 1 | 6% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Lithuania | 10 | 63% |
| Canada | 1 | 6% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| isLucid | isLucid instantly saves your company time and money. It’s a voice and AI controlled digital meeting assistant for all your employees that takes notes, assigns tasks and creates securely sharable meeting summaries. The result is fewer, more productive meetings with better outcomes. | $281.1K | Pre-Seed | Nov 19, 2024 |  |
| Spenfi | Spenfi streamlines payment cards, expenses, subscriptions, and invoices with employees in an organized way. It provides control to finance teams, tracks purchases from order to payment, and defines custom budgets per team or project. It works with the accounting system and saves time on repetitive tasks.Haslle was founded in 2019 and is based inVilnius, Lithuania | $880.4K | Seed | Jul 10, 2023 |  |
| Inbalance grid | Inbalance grid develops charging infrastructure that is built on a cluster system with a master and slave design concept, where the majority of the components are off the shelf and managed by In Balance grid software. | $1.4M | Venture - Series Unknown | Mar 02, 2023 |  |
| Walk15 | Walk15 sustainable walking platform helps engage employees in active mobility and improve companies' ESG reports. Walk15 combines the Sustainable Activity Platform - a tool offering B2B clients annual subscriptions to activate their employees and monitor social impact data for ESG reports - and #walk15 app for B2B clients to buy Step Walletsubscriptions to promote their products and services within the app. | $212.6K | Seed | Dec 28, 2022 |  |
| Mark ID | Mark ID - universal identification and eSignature gateway. We help companies to fight fraud, reduce costs, comply with KYC, GDPR, and AML regulatory requirements, and enable digital channels via an easy-to-use e-signature platform. | $315.8K | Seed | Dec 01, 2022 |  |
| Walk15 | Walk15 sustainable walking platform helps engage employees in active mobility and improve companies' ESG reports. Walk15 combines the Sustainable Activity Platform - a tool offering B2B clients annual subscriptions to activate their employees and monitor social impact data for ESG reports - and #walk15 app for B2B clients to buy Step Walletsubscriptions to promote their products and services within the app. | $413K | Seed | Nov 29, 2022 |  |
| Okredo | Okredo is open data platform providing data and insights for sales increase and credit risk mitigation. Okredo offers services - in freemium and premium levels (freemium - free of charge, Premium - paid services). Currently we are operating in Lithuania, but we are scaling to Latvia, Poland, UK and other European countries. | $646K | Seed | Aug 22, 2022 |  |
| InRento | InRento is the platform allows investors to make their money work in various real estate projects. | $995.5K | Seed | Aug 01, 2022 |  |
| Mark ID | Mark ID - universal identification and eSignature gateway. We help companies to fight fraud, reduce costs, comply with KYC, GDPR, and AML regulatory requirements, and enable digital channels via an easy-to-use e-signature platform. | $1M | Seed | Mar 01, 2022 |  |
| Hobeen | Hobeen is a developer of an energy-efficiency application designed to control all smart devices at home. They provide companies and public institutions to deploy energy saving and sustainability solutions among their customers, employees, and citizens. | $298.1K | Seed | Feb 08, 2022 |  |

10 of 16 investments shown.

## Co-investors
- [Lithuanian Business Angel Network](https://shizune.co/investors/profile/lithuanian-business-angel-network) — VC Fund, 4 deals together
- [Presto Ventures](https://shizune.co/investors/profile/presto-ventures) — VC Fund, 3 deals together
- [Crosspring](https://shizune.co/investors/profile/crosspring-lab) — VC Fund, 2 deals together
- [EIT Urban Mobility](https://shizune.co/investors/profile/eit-urban-mobility) — VC Fund, 2 deals together
- [70Ventures](https://shizune.co/investors/profile/70ventures) — VC Fund, 1 deal together
- [Agmis](https://shizune.co/investors/profile/agmis) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does Business Angels Fund invest in?

Business Angels Fund invests primarily in Software, Information Technology and Mobile Apps startups, most often at Seed and Pre-Seed stage. Most of the 16 investments tracked by Shizune back companies in Lithuania. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Business Angels Fund last invest?

The most recent investment recorded for Business Angels Fund closed in Nov 2024. Shizune tracks 16 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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