Meet Outlast Fund, the new Latvian VC fund created by Baltic and Nordic startup veterans 

Riga, Latvia-based Outlast Fund, a venture capital fund, announced on Thursday that it has emerged out of stealth to back visionary founders across the Baltics and Nordics.

“We are on a mission to back ventures that aren’t here for a quick win but are built to truly last. At Outlast, we will not just write checks; we will partner with founders through the highs, the lows, and those infamous 11 pm “the server’s down” moments, and yes, when the coffee machine inevitably gives up, we’ll bring the instant packets,” says Marija Rucevska, partner at Outlast Fund.

The company has partnered with ALTUM, their anchor LP. Based out of Riga, ALTUM is a financial institution committed to encouraging economic growth in Latvia by providing public support that complements the private financial market. 

It offers government-backed financial instruments such as loans, guarantees, and venture capital investments.

ALTUM assists companies at various stages of development, from business ideas to large projects lacking private financing. 

Its services encompass business startups, enterprise development, export support, and aid for farmers and citizens, highlighting its essential role in the Latvian economy.

Outlast Fund: Backing Nordics and Baltics startup

Founded by Egita Polanska, Marija Rucevska, Kristaps Prusis, and Mikaela Pedersen, Outlast Fund focuses on investing in B2B software-driven startups at the pre-seed and seed stages.

Although Outlast Fund maintains an industry-agnostic approach, they are particularly focused on sectors such as SaaS, fintech, cybersecurity, and e-commerce enablers, among other innovative fields.

The fund typically leads pre-seed funding rounds with investments of up to €250,000 and can contribute as much as €1.5M in seed rounds.

“This fund is a personal journey, born out of years of inspiration from the courage and determination of founders who dream big, take risks, and make the impossible possible. Outlast Fund is our way of giving back to the incredible ecosystem that shaped us and contributing to the creation of global success stories from this region,” says the company in a LinkedIn post.