New fund worth €100M for development of companies creates in Latvia

The Ministry of Economy of Latvia, The Financial Industry Association and the development finance institution Altum in cooperation with pension managers have agreed on the development of a new investment instrument – the Fund “For growth and protection”. 

The aim of the fund is to promote the development, innovation and economic resilience of Latvian companies by investing in equity in Latvian companies, including defense industry companies and infrastructure and public private partnership projects. The planned amount of the fund will be €100M with the possibility of increasing it.

The fund's investors will be second-tier pension plan managers, investment funds, Altum and other institutional investors. Swedbank investment management company, CBL Asset Management, SEB Investment Management, Luminor Asset Management and INVL Asset Management are participating in the development of the fund.

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Latvia's Digmatix acquires Estonian technology company BCS Itera

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Latvian company Digmatix (formerly Digital Mind) has signed an agreement with Estonian technology company BCS Itera to acquire 100% of its shares. The deal will bring together two regional Microsoft solutions partners, helping to increase Digmatix's competitiveness in the region, as well as expand its solution offerings in the manufacturing, retail, financial and human resources sectors.
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