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People, Capital and Opportunities

About us

Established in 2012, DAO FAMILY operates business via two entities:

DAO FAMILY OFFICE

  • managing investments and business development, where Misiunas family is the principal investor;
  • liaising with co-investors;
  • providing legal, HR, analytical, financial and project management support to its investments.

DAO AM

  • is the holding company of the Partners of DAO FAMILY;
  • always investing along with other co-investors.
REAL ESTATE
Bod
Hi-Tech Industrial Building
25'000
Cash Flow
EUR 25M
Nordika
Shopping Center
35'000
Cash Flow
EUR 55M
Elija
Seaside Apartments
15000
Development
EUR 17M
Golden Dunes
Seaside Apartments
8000
Development
EUR 37M
PRIVATE EQUITY
Granorama
Vertically integrated premium grade wood pellet business
Development
EUR 50M
Dehidra
Vertically integrated freeze-dried food processing business
Development
EUR 75M

Value Creation

Long Term View

investment horizon of our business developments is long, based on trends lasting decades and unlimited by short term thinking.

Investment Focus

we carefully select asset classes and industries in order to increase the power of our attention and industry knowledge.

Risk Management

we believe in risk reduction and diversification through vertical integration within the industries that we understand.

Deep Understanding

we seek to be experts in the global industries we operate in. We are constantly learning, analyzing and training.

Execution

we execute a thoroughly thought out plan with confidence delivering the results on time.

Systems and processes

we apply systematic approach to all processes within the organization ensuring sustainable top quality execution.

Entrepreneurship

we promote entrepreneurial culture, energy and creativity within all segments of our organisation.

Accountability

we feel fully accountable to our co-investors, therefore we communicate regularly and transparently.

Satisfying the end-user

we aim to deliver the best product in the market, truly answering the needs of the end-user.

People

The Partners of DAO FAMILY are active managers and investors, deeply involved in defining the investment strategy, selecting the assets, attracting people, setting the standards of execution and maintaining the balance of the whole system of DAO FAMILY.

Vykintas Misiunas
Partner
Functions:
  • Strategy & Group Finance
  • Co-Investor Relations
  • Asset Management

20 years of professional experience.
Previously:

  • Treasury Director at SEB bank (Lithuania)
  • Fund Manager at Lords LB Asset Management
Evaldas Cepulis
Partner
Functions:
  • Business Modeling
  • Transaction Management
  • Investment Finance

20 years of professional experience. 
Previously:

  • Director at SEB Venture Capital (Lithuania)
  • Deputy Treasury Director at SEB bank (Lithuania)
Arturas Razgunas
Partner
Functions:
  • Legal Support
  • Transaction Psychology
  • Relationship Management

15 years of professional experience.
Previously:

  • Lawyer at Law firm Zabiela, Zabielaite & Partners
  • Private entrepreneur

The organizational structure of over 30 professionals is flat, informal, dedicated and loyal. The team members appreciate and live the core values of DAO FAMILY. Their involvement, competence, energy and fairness is successfully shared across all investments of DAO FAMILY.

Capital

DAO FAMILY is the active shareholder inviting other financial
co-investors to utilize selected investment opportunities. Misiunas family is the principal family investing into all assets selected by DAO FAMILY. Over the last years, other Western and Eastern European families have also successfully co-invested together with DAO FAMILY.

Due to a positive investment relationship in the past, many of these families co-invested in absolutely all proposed investment opportunities. For future investments, DAO FAMILY expects to increase the network of co-investors having similar values, sharing long term investment approach and staying together in all weather.

Prior to the investment, DAO FAMILY provides orderly and detailed information package as well as the data room for the co-investors, followed by transparent and timely reporting after the investment. Sharing the experience and networking among the co-investors is welcomed and highly appreciated.

Partners of DAO FAMILY do not receive salaries or management fees from the assets – the only form of financial motivation is equity or profit sharing.

Depending on the investment stage, DAO FAMILY targets 10-30% return on equity.

Greenfield
Target annual return:
30%+

Exit options:

Stay or sell on to Brownfield
Brownfield
Target annual return:
20-30%

Exit options:

Stay or sell on to Operation
Operation
Target annual return:
10-20%

Exit options:

Stay or sell to internal/external buyer or IPO

Opportunities - Real Estate

Nordika
Asset: Shopping Center
Type: Cash Flow
Net area: 35'000 m2
Asset value: EUR 55M
In partnership with Zenith Family Office
Bod
Asset: Industrial Building
Type: Cash Flow
Net area: 25'000 m2
Asset value: EUR 25M
In partnership with Zenith Family Office
Elija
Asset: Seaside Apartments
Type: Development
Net area: 15'000 m2
Asset value: EUR 17M
Golden dunes
Asset: Seaside Apartments
Type: Development
Net area: 8'000 m2
Asset value: EUR 37M
Investment criteria

Counter-cyclical assets - cash flow real estate must be resistant to the economic cycles.

Portfolio balance - after the acquisition, the weight of development assets should not exceed 50% of the total real estate portfolio.

Competitive advantage - development assets must have competetive advantage against the peers - location, purchase, price, etc.

Location / Tenant / Rent price - cash flow real estate must meet two out of these three criteria: be in an excellent location, have strong tenants or have rent price below the market average.

Competent team - asset size has to be large enough in order to attract top quality team to manage it.

Opportunities - Private Equity

Granorama
Asset: Production business
Product: Premium wood pellets
Type: Development
Investment size: EUR 50M
Planned sales: EUR 36M
Planned EBITDA: EUR 11M (30%)
Revenue source: Europe
Growth potential: Unlimited by replication
In partnership with Audrius Grušnis
Dehidra
Asset: Production business
Product: Freeze-dried food
Type: Development
Investment size: EUR 75M
Planned sales: EUR 32M
Planned EBITDA: EUR 15M (33%)
Revenue source: Global
Growth potential: Unlimited by replication
In partnership with Audrius Grušnis
Investment criteria

Counter-cyclical business - acquired or developed business must be resistant to the economic cycles.

Large market - the market of the end users has to be global or at least European.

Growing market - there has to be a possibility to utilise the increasing space of the growing market versus fighting in a stagnant market.

Fragmented market - raw materials and sales markets, as well as the competition, must be unconsolidated by large players.

 Competent team - asset size has to be large enough in order to attract top quality team to manage it.

Competetive advantage - after identifying the problems of a certain industry, there has to be an opportunity to develop unique solutions which would provide strong advantage against competitors.

The Principal Family - Background

1st Generation
Tautvydas Misiunas

Tautvydas Misiunas (father) completed his studies of Automatics at Kaunas Polytechnic Institute and started his professional career at ACHEMA, one of the largest nitrogen fertilizer factories in Europe, as electronics engineer in 1973. Since 1988, he was setting up the international trading business of the company.

In 1994, ACHEMA was privatized and Tautvydas Misiunas became one of the shareholders deeply involved in the rapid development of the factory and all ACHEMA GROUP. Tautvydas Misiunas retired in 2016, at the age of 66, having served the company for 43 years.

During his career, Tautvydas Misiunas served as the Member of the Board of ACHEMA as well as numerous daughter companies all around Europe, including LITEXIMP in Poland, AGROBALTIC in Germany, LITFERT in France, FERTIGENT in Belgium. For years, Tautvydas Misiunas represented ACHEMA in the European Fertilizer Manufacturers Association in Brussels, where he was the Chairman of Trade and Economics Committee and Member of the Board. Tautvydas Misiunas also represented Lithuania in ECOSOC (Consultative Committee to EU Social and Economics Commission).

2nd Generation
Vykintas Misiunas

Vykintas Misiunas (son) completed his studies of International Business at the Greenwich University (London, UK) and International Securities, Investment and Banking at Reading University (Reading, UK) in 1998. Later on he also completed EMBA studies at the Baltic Management Institute (Vilnius, Lithuania).

Vykintas Misiunas started his professional career at SEB bank, the largest bank in Lithuania, where he was heading the Treasury and Capital Markets Department until 2007. During this time, Vykintas Misiunas was serving as a Member of the Board at SEB Venture Capital and SEB Life Insurance and was a Member of SEB Asset & Liabilities Management Committee.

From 2007 till 2009, Vykintas Misiunas took the role of active Member of the Board at KRS Group, where he was involved in the restructuring of a producer of chemical products HIGEJA as well as running other businesses of the group in construction, real estate and IT. In 2009, he was invited to become the Fund Manager of the first 4 regulated real estate funds in Lithuania at Lords LB Asset Management. In 2012, Vykintas Misiunas together with 3 other partners established DAO FAMILY.

The Principal Family - Business interests

Minority / Passive
Achema group

Investment
Holding

4'800
employees

Established
in 1962

40 companies
in 9 countries

Activities:

Production
Seaport and logistics
Renewable energy
Hotels
Media
Insurance
Construction

The Principal / Active

Investment
Holding with
Family Office

30
employees

Established
in 2012

8 companies
in 2 countries

Activities:

Real Estate
Private Equity

Contacts

Gedimino 5, Vilnius LT-01103, Lithuania
2, Boulevard de la Foire L-1528, Luxembourg