Management of the Foundation

The governing bodies of the Vilnius University Foundation include the shareholders, the Investment Board, and the CEO.

The Foundation’s shareholders make decisions related to budget formation, project funding, endowment capital fund formation, approval of financial statements and statements of received support, and appointment of new shareholders. They also elect the Foundation’s Investment Board and appoint the CEO.

The Investment Board is responsible for the strategy of the endowment capital fund investment and its implementation. The Board consists of the finance and asset management professionals with impeccable reputation.

The Foundation’s CEO ensures efficient everyday activities of the Foundation.

The Internal Control Committee acts as an additional measure for ensuring that the Foundation adheres to the highest standards and efficiently pursues the goals set forth by the Foundation’s regulations. The Internal Control Committee supervises, monitors and evaluates the Foundation’s activities. Members of the Committee are delegated by the Foundation’s shareholders, members of the Board of Trustees, and Vilnius University.

Fund’s Shareholders and their Representatives

Alvydas Žabolis

Investor, founder and CEO of Zabolis Partners.
Alumnus of Vilnius University (Physics).

JSC "Ekspla", represented by Rimantas Kraujalis

President of Eksma Group developing high-tech products, Chairman of Vilnius University Council.
Alumnus of Vilnius University (Physics).

JSC "Light Conversion", represented by prof. Algis Petras Piskarskas

President of the Lithuanian Laser Association, Doctor habilitatus in Natural Sciences, academician.
Studied at the VU Faculty of Physics, graduated the Lomonosov Moscow State University.

Nerijus Numavičius

Investor, former active member of student organizations, one of the founders of the Lithuanian Medical Students’ Association (LiMSA).
Alumnus of Vilnius University (Medicine).

"Akola ApS", represented by Darius Zubas

Businessman, founder and main shareholder of Linas Agro Group and Chairman of its Board.
Graduate of LSMU Veterinary Academy.

JSC "Grūdainė", represented by Danas Tvarijonavičius

Doctor of Medical and Biochemical Sciences, businessman, Chairman of the Board of Roquette Amilina.


Arvydas Andrijauskas

Businessman, the main shareholder, chairman and head of the board of AL holdingas, the company that manages Alma littera, one of the largest book publishing and trading groups in the Baltic States. Alumnus of Vilnius University (Physics).

Members of Investment Board

Alius Jakubėlis, Chair

Chair CEO of “Orion Securities”, President of the Lithuanian Financial Brokers Association

Šarūnas Barauskas

Expert in bond markets

Mindaugas Mažeikis, CFA

Expert in stock markets, chartered financial analyst (CFA)

Prof. Konstantinas Pileckas

Professor at VU Faculty of Mathematics and Informatics, member of VU Council, private investor

CEO of the Fund

Justinas Noreika, CFA

Over 10 years of experience in various organization and investment management, chartered financial analyst (CFA)

Internal Control Committee

Dr. Irma Kamarauskienė, Chair

Auditor, former CFO of Achema Group.
(Delegated by VU)

Dr. Algirdas Juozapavičius

Shareholder and former long-time CEO of “Light Conversion”.
(Delegated by co-founders)

Mantė Mažeikienė

CFO of Eksma Group
(Delegated by co-founders)

Prof. Vytautas Mizaras

Professor of law at VU, lawyer and partner at law firm “Ellex Valiunas”
(Delegated by the Board of Trustees)