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Endowment management

The management bodies of the Vilnius University Endowment is the General Meeting of the Joint Owners, the Investment Board and the CEO.

The joint owners are in charge of the decisions related to budget approval, project funding, formation of the endowment capital, approval of financial and donation reports, approval of financial auditor, new joint owners and other general activity related decisions.

The Investment Board is responsible solely for endowment fund investment strategy and its implementation. Only the persons of impeccable repute and experienced in finance and asset management can be elected to the board.


Joint Owners and their Representatives:

Alvydas Žabolis


Businessman, a founder and the manager of the company Žabolis ir partneriai, an alumnus of Vilnius University, graduate of the Faculty of Physics


UAB „Ekspla“, which is represented by Rimantas Kraujalis


President of Eksma Group developing high-tech products and solutions, Chairman of Vilnius University Council, an alumnus of Vilnius University, graduate of the Faculty of Physics


UAB MGF „Šviesos konversija“, which is represented by prof. Algis Petras Piskarskas


President of the Lithuanian Laser Association, Doctor habilitatus in Natural Sciences, academician, an alumnus of Vilnius University, graduate of the Faculty of Physics


Nerijus Numavičius


Investor, the main founder of Vilnius prekyba company, alumnus of Vilnius University Faculty of Medicine


Investment Board:

  1. Alius Jakubėlis, chairman – CEO of UAB FMĮ „Orion Securities“, the president of the Lithuanian Financial Brokers Association;

  2. Konstantinas Pileckas – Professor at the Faculty of Mathematics and Informatics of Vilnius University, member of Vilnius University Council, private investor;

  3. Mindaugas Mažeikis – Head of Capital Markets at UAB „Žabolis ir partneriai“, CFA;

  4. Šarūnas Barauskas – Head of Business Development at PHB group, Advisor to the President of French-Lithuanian Chamber of Commerce.



         Justinas Noreika – over 8 years of experience in various organisation and investment management, passed CFA exams.



A joint meeting of the management bodies of the Vilnius University Endowment and the heads of Vilnius University set up the Internal Control Committee of the Vilnius University Endowment. The Internal Control Committee exercises the supervision, monitoring and assessment of the Endowment’s performance.

  1. Irma Kamarauskienė, chairperson – Auditor, Assistant Professor at the Accounting and Audit Department of the Faculty of Economics of VU, Head of Economics and Finance at UAB concern "Achema group"; 

  2. Algirdas Juozapavičius – CEO of a research and manufacturing company UAB "Šviesos konversija";

  3. Mantė Mažeikienė – Chief Financier of Company Group "Eksma";

  4. Vytautas Mizaras – Professor at the Faculty of Law of Vilnius University.