LatBAN Angels Invest €500K in Buildit and Outlast Fund to Support Latvian Startup Growth
Members of the Latvian Business Angel Network (LatBAN) have invested €500,000 as a syndicate into two Latvian venture capital funds, supported by ALTUM - Buildit VC and Outlast Fund.
The joint investment shows strong support for the continued growth of the Latvian startup ecosystem. By working together with local venture capital funds, LatBAN members are helping to build better cooperation between angel investors and professional fund managers.
“This is a meaningful milestone for the Latvian startup ecosystem. At LatBAN, we believe angel investors shouldn’t stand on the sidelines—we must actively shape the environment we invest in. By committing €500K into Buildit and Outlast Fund, our members are not just betting on two VC teams we respect — we’re investing in the next generation of Latvian innovation.
We often talk about the disconnect between angels and VCs. This move is a step toward closing that gap. We believe in co-investment, shared learning, and joint responsibility to help early-stage founders go further, faster — with fewer mistakes along the way.
Strong ecosystems are built on alignment. And alignment comes from skin in the game.”
— Ģirts Līcis, LatBAN Chairman and angel investor.
For LatBAN members, investing into VC funds like Buildit and Outlast means more opportunities to learn, share knowledge, and get involved in a wider range of startup deals.
“We see this commitment from LatBAN as a vote of confidence in our investment strategy and long-term vision. At Buildit, we focus on hardware, Industry 4.0, and deep tech – areas that require not only capital, but also patience and strong partnerships. Having experienced angel investors on board strengthens our ability to support ambitious founders and build globally competitive companies from Latvia and abroad.”
“At Outlast Fund, we don’t just back founders — we back ecosystems. Partnering with LatBAN is our way of doubling down on the power of community. When we connect the right people, big things move faster — and that’s exactly the kind of momentum we’re here for.”
This investment also sends a message to startup founders - private investors are ready to back and help the next generation of Latvian and Baltic startups grow.