"Röntgen" receives fund management company licence
On Tuesday, the Bank of Lithuania granted a fund management company licence to UAB Ketvirta diena, which intends to introduce three investment funds to informed investors and to expand the brand of the real estate crowdfunding platform Röntgen.
Röntgen has applied for a fund management company licence with the Bank of Lithuania in 2023 to meet the needs of larger investors.
"Large investors have trusted our conservative project selection for some time now and want to entrust us with managing more capital. Also, the structure of the funds allows us to develop or finance larger projects than the EUR 5 million currently allowed for crowdfunding platforms," the company's announcement quotes Martynas Stankevicius, head of the Röntgen platform and one of the shareholders.
The fund management company will use the name "Rontgen Asset Management" in its communications. Simonas Baciulis, CEO of the fund management company, comments that the company's first planned fund will invest in private debt. More investment areas are planned for the future, including property development and aviation.
Companies in the aviation sector have already been financed several times on the Röntgen platform, so this sector will continue to be one of the strategic focus areas.
"The structure of the funds is more convenient for large and institutional investors, as it allows them to ensure greater diversification without having to be actively involved in the investment," says S. Baciulis.
According to Röntgen shareholder M. Stankevicius, both the crowdfunding platform and the fund management company will be equal business priorities.
According to the Bank of Lithuania, last year Röntgen became the second largest crowdfunding platform in Lithuania, mobilising more than EUR 54 million in loans. The platform is used by almost 18,000 natural and legal persons.
