LatBAN invests €500K in Buildit VC and Outlast Fund

Members of the Latvian Business Angels Network (LatBAN) jointly invested €500K in two funds Buildit VC and Outlast Fund. 

LatBAN Board Chairman and angel investor Ģirts Licis emphasizes that this is a significant step in the development of the Latvian startup ecosystem, which will provide an opportunity to bridge the gap between business angels and venture capital funds. For LatBAN members, investing in funds also means new opportunities for learning, sharing experience and access to a wider range of investment deals.

LatBAN is a Latvian business angel network that was founded in April 2014. It helps business angels make investments throughout the Baltic region offering training, advice, and co-investment opportunities.

Buildit is an accelerator for hardware and IoT startups. It provides €10K to €50K of pre-seed investments to best-performing startups and up to €250K of seed investments. Buildit's partners are Matīss Neimanis, Rene Tõnnisson, and Aleksander Tõnnisson. Buildit VC was founded in 2013 in Latvia.

Outlast Fund is a venture company focused on early stage startups in the Nordic and Baltic regions. Outlast Fund focuses on investments in B2B software-based startups at pre-seed and seed stages. The fund was founded in 2024 in Latvia. Founders: Egita Polanska, Marija Ručevska, Kristaps Prusis and Mikaela Pedersen.