The news was confirmed to the website by the head of BIT Invest, Lithuania’s business group part of the project.
“Documents for the withdrawal of BaltCap’s subsidiary Nullus are currently being drafted in accordance with Ukrainian legal requirements and procedures,” Aivaras Karalius told Verslo žinios.
In autumn 2023, it was reported that a number of Lithuanian public figures and business people came together to build a school in the war-affected town of Bucha. The Support Fund for Bucha School, which planned to raise around EUR 18 million, was set up by BT Invest, the BaltCap Infrastructure Fund and the 1K Support Fund of comedian and public activist Oleg Šurajev.
The school was scheduled to open on 1 September 2025. The total value of the project was estimated at EUR 18 million.
The Baltcap fund also withdrew from Lithuania’s major national stadium project last week for “reputational reasons”, after its former partner, Šarūnas Stepukonis, was found to have embezzled and gambled away around EUR 30 million from the fund.
