Marius Jakulis Jason foundation, together with its partners, acquired Vilnius Business College (VVK). Marius Jakulis Jason, a well-known businessman, investor and philanthropist, says that the investment in Vilnius Business College is strategic. This higher school was chosen for its many years of experience, high student employment and employer evaluation index, and study programs that develop entrepreneurship.
This is not Marius Jakulis Jason’s first investment in Lithuanian education. He has also contributed to establishing the Vilnius International School and the Erudite Lyceum (Erudito licėjus).
“The philanthropic MJJ foundation, which has been working for two years now, invests in education, science and knowledge because I believe that this is the basis for the prosperity of our entire country. This strategic investment is in higher education. This is a base that will help to implement another important ambition for the fund in the near future – to create a leading program for hospitality specialists of the hotel business intended for young professionals,” says Marius Jakulis Jason, the founder of the fund investing in Vilnius Business College.
Dr. Gitana Neverienė, who overtook the position of the director of Vilnius Business College, is a lawyer and a higher education expert with 20 years of management experience in public and private higher education institutions and the civil service.
“We will create an international and leading business school, where studies will be carried out in line with the best-known international business standards and best practices. In the teaching process, we will speed up the application of innovative technological solutions that are appealing to students, to make their studies truly modern. We want the best Lithuanian and foreign teachers to teach here,” shares Dr. Gitana Neverienė, the new director of Vilnius Business College.
Vilnius Business College started its activities in 1989 as one of the first non-state higher education institutions. Since 2013, annual data shows that as many as 92.6% of graduates successfully find employment and create or develop their own business. Some of the graduates continue their studies at domestic and foreign universities and colleges. From 2013 to the present, VVK ranks first in terms of the added value created by graduates and the evaluation of employers. Vilnius Business College successfully operates in the international market by offering studies in English and Russian, which attracts students from 22 countries. In 2014, the work of VVK was positively evaluated by international experts, and it was accredited for the maximum period by the decision of the Centre for Quality Assessment in Higher Education. Since 2020, VVK has successfully started to organize online studies as well.
“Orion Wealth” advised on the structure of the transaction. “In recent years, more and more investors’ interest and capital are directed to the education market. During the pandemic, many problems and challenges of education emerged. Along with the challenges, there are increasing opportunities to offer more innovative and more adaptable educational solutions for today’s society. The hospitality management program is set to start in the near future. Although such studies are often compared with tourism management, in our opinion it is a broad program that covers all business areas, from business structuring to refining and implementing customer service quality standards,” says Mindaugas Strėlis, Head of “Orion Wealth” and a board member of the MJJ foundation.
“In this project, Marius Jakulis’ knowledge of hotel business and its management with our team’s experience in the financial market will give Vilnius Business College an exceptional competitive advantage not only in Lithuania but in neighboring markets as well,” adds M. Strėlis.
The legal issues of the transaction were advised on by a law firm “AAA Law”.