From Stockholm to Riga, Outlast Fund launches €21M fund to back founders in it for the long game
Outlast Fund, a Baltic-Nordic VC fund, has closed its first fund at 21M EUR to invest in pre-seed and seed-stage startups from the region. The fund is based in Riga and Stockholm, and aims to be the first cheque in backing founders building solutions that are built to last, with initial pre-seed tickets of up to 250,000 EUR and 1.5M EUR seed rounds.
The fund goes against the grain in the investment environment, eschewing typical VC advice to prioritize quick exits. Rather, they look to scour the edges to uncover the most promising founders in the Baltics and Nordics, and are prepared to invest in them at the earliest stages to help them build enduring companies.
The fund is particularly keen to keep an eye out for serial entrepreneurs with a proven track record, ready to back them as early as the idea stage. Outlast Fund also invests in first-time founders who possess unique and specific insights within their chosen verticals. However, a trait that they look for in all cases is an obsessive drive to solve their customers’ most pressing problems. Regardless of whether the founders are better suited for building lean teams with the help of angels, microfunds, and syndicates, or if they are eyeing large rounds from the get-go, Outlast Fund is ready to support from the first cheque, rather than jumping in at the middle.
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Originally published on 18 Sep
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The government is promoting the construction of bio-based carbon dioxide capture capacity with a total of €90 million. On December 11, 2025, the Government issued a decree on the terms and conditions for grants to promote carbon capture in 2026–2032.
Government launches €90 million call for proposals for bio-based CO₂ capture projects
“Finland has a huge competitive advantage. We have clean electricity and bio-based carbon dioxide available for investments that will enable us to break away from our dependence on fossil fuels. The government wants to promote the advancement of these technologies, which strengthen self-sufficiency and reduce emissions. As the geopolitical situation becomes more tense, there is an increasing need for these dependency-reducing solutions and investments, and they should be seen as part of our preparedness,” says Minister of the Environment and Climate Sari Multala.
The grant, which will be available for application in January, will support the first biogenic carbon dioxide capture solutions and their scaling up to industrial scale, as well as accelerate the market-driven advancement of similar solutions. Support may be granted for investments related to biogenic carbon dioxide capture if the captured carbon dioxide is permanently stored (BECCS) or utilised in products (BECCU). In Finland, there is considerable potential for technical sinks and the utilisation of biogenic carbon dioxide.
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Originally published on 11 Dec
ALEX Kaunas Innovation Park has welcomed its first greenfield investor – Teltonika, one of the strongest high-tech group of companies in Lithuania, is strengthening its presence in Kaunas. The company has chosen Kaunas as a new destination for its strategic growth. A conclusion of an investor agreement has been followed by Teltonika’s application for lease of a 4-hectare site.
It’s official: the first greenfield investor at ALEX Kaunas Innovation Park becomes Teltonika – a leading Lithuanian technology group, known worldwide for developing and manufacturing cutting-edge B2B Internet of Things (IoT) solutions. The Lithuanian-owned company, known for its industrial networking equipment, telematics solutions, EV charging stations, and telemedicine devices, is planning to open a new Technology Centre in Kaunas and has already taken steps to lease a 4-hectare site for the project.
“Teltonika has been operating in Kaunas for more than 20 years, and during this time we’ve built a strong and globally recognised business niche in networking equipment. With a talented team of engineers and a supportive environment for growth, we are ready for a major step forward – investing over EUR 34 million into a 15,500 m² technology centre that will become a hub of modern laboratories, automated production lines, and spaces for developing new innovations,” – says Arvydas Paukštys, founder of the Teltonika group.
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Originally published on 10 Dec
On 10 December, the Supervision Committee of Latvijas Banka issued a licence to Nexdesk SIA for the provision of crypto-asset services.
The company is entitled to provide the following crypto-asset services:
- providing custody and administration of crypto-assets on behalf of customers,
- executing orders for crypto-assets on behalf of customers,
- transferring services for crypto-assets on behalf of customers.
Nexdesk SIA plans to provide its services both in Latvia and in other European Union (EU) countries.
Nexdesk SIA is the second crypto-asset service provider to receive a licence in Latvia in accordance with the requirements established in the EU Markets in Crypto-Assets Regulation (MiCA). Along with the entry into force of the MiCA Regulation, a unified legal framework for the crypto-asset sector, including the requirement for crypto-asset service providers to obtain authorisation, has been introduced in the EU. Upon obtaining authorisation in one EU country, a crypto-asset service provider may provide services throughout the entire EU in accordance with the mechanism for notifying cross-border activities.
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Originally published on 11 Dec
Fazer Latvija is part of the international “Fazer” Group, founded in 1891 in Finland. The concern specializes in the production of bread, sweets, and other cereal and plant-based products. Over the years, Fazer has expanded its operations to eight countries, including Latvia, and now exports its products to roughly 40 world markets. Fazer Latvija is one of the largest bakeries in the country: the Ogre factory supplies bread and other products not only to Latvia, but also to Estonia, Lithuania, and Finland. The group’s trust in Latvia is also evident in its large-scale investments: last year they reached 18 million euros, and additional improvements of more than one million euros are planned for next year.
The past year marked a turning point for the Fazer structural unit in Latvia. The company made a strategic decision to merge its Baltic bread factories and concentrate production in one location – the Ogre region. Until now, production had taken place both in Latvia and Kaunas, but a detailed analysis showed that modernizing and consolidating production in Latvia would deliver greater long-term benefits.
With the implementation of this plan, total investments in Latvia reached 18 million euros. These funds were used to modernize and expand the production building, install three new production and assembly lines, and build a new warehouse. Although the modernization and automation of the factory on a Baltic scale generally meant a decrease in the number of employees, Latvia was an exception – around 60 new jobs were created at the Ogre factory during the project. As a result, the total number of employees at “Fazer” bread and confectionery factories in Latvia now exceeds 300.
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Originally published on 8 Dec
IQM Quantum Computers, a global leader in superconducting quantum computers, has opened a new R&D office in Oulu, the tech hub of northern Finland, as part of its efforts to develop advanced quantum chips for error-corrected quantum computers.
The move represents a strategic investment for IQM, complementing the company’s production and cleanroom facilities and assembly line in Espoo and quantum data centre in Munich, Germany.
In addition, the new office reflects IQM’s continuing commitment to building quantum ecosystems in major tech hubs and supporting research innovation and development activities.
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Originally published on 10 Dec
The European Investment Bank (EIB) is lending Swedish aerospace company ECAPS AB €20 million to accelerate the development of high-performance rocket engines and propulsion capabilities. The financing will also support advances in dual-use technologies, which can be deployed for both civilian and defence purposes.
The support by the EIB is through its TechEU initiative and takes the form of venture debt, a type of loan designed for high-growth startups and scaleups that provides additional capital without diluting ownership. The goal is to bolster production of cutting-edge space technologies within the European Union and to enhance EU security.
The financing will contribute to ECAPS’s €47 million plan to scale its proprietary propellant and rocket engines, which are more efficient and cost-effective than traditional technologies. They also offer higher performance and safer handling compared to traditional hazardous solutions.
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Originally published on 10 Dec
Today, on 10th of November the Port of Tallinn welcomes the cruise ship AIDAprima, operated by the German cruise line AIDA Cruises. The ship has brought around 3,600 passengers to explore autumnal Tallinn. The cruise began in Kiel, and after today’s stop in Tallinn, the vessel will depart at midnight for Helsinki.
AIDAprima is one of AIDA Cruises’ new-generation ships. The ship can accommodate up to 4,300 passengers and about 900 crew members. It is powered by liquefied natural gas (LNG), making it one of the most environmentally friendly cruise ships sailing the Baltic Sea. Onboard, guests can enjoy a wide range of restaurants, spa and entertainment facilities, and a spacious glass-roofed promenade area designed for year-round comfort.
Local tour operator Estonian Holidays is organising traditional bus and walking tours to introduce guests to Tallinn’s medieval Old Town. Special excursions also reach Pirita, Kadriorg, and even Anija Manor outside the city. For those seeking something different, a late-night ghost tour – “Secrets and Mystery of Tallinn Old Town by Night” – offers a thrilling way to experience the city after dark.
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Originally published on 10 Dec
Copenhagen has been voted winner of the award as World’s Best Cruise Terminal for Sustainability 2025 by World Cruise Awards.
At the fifth World Cruise Awards ceremony on December 6, 2025, Copenhagen was named World’s Best Cruise Terminal for Sustainability 2025. The award is a recognition of CMP’s sustainability agenda, which focuses on several aspects including environmental, social, and economic dimensions.
Over the last years, CMP has eliminated fossil fuels from terminal equipment and reduced emissions in its own operations by 76% during 2020–2024. Since this year, all berths at Langelinie and Oceankaj feature direct connections for wastewater, removing the need for barges and tanker trucks. One of Europe’s largest shore power facilities was inaugurated in June 2025 in Copenhagen, enabling ships to eliminate emissions when at berth. This would not have been possible without the cruise lines’ ambitious commitment to investing in shore power technology and willingness to connect. CMP’s terminals at Nordre Toldbod and Langelinie are located close to the city center, limiting transport needs for guests, and the terminals at Oceankaj will be even better integrated into Copenhagen’s public transport system with the planned extension of the Metro.
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Originally published on 9 Dec
Security topped the agenda of a discussion Deputy Prime Minister Radosław Sikorski had with the Council of the Baltic Sea States (CBSS) foreign ministers. High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas also joined the videoconference.
Held on 8 December 2025, the meeting had been arranged on the initiative of Poland as part of its current Presidency of the Council. The discussion focused on key regional security issues, including ongoing talks on putting an end to the fighting in Ukraine, as well as the work now under way in the European Union in regard to a reparations loan and the US National Security Strategy.
Poland’s top diplomat stressed that the countries in Central, Eastern, and Northern Europe must be engaged in all international talks concerning the region. In that context, the CBSS is a useful cooperation format. The participants agreed on further exchange of information and continued cooperation to support Ukraine. A fair peace is the only solution that may stabilise the situation in Europe. There was general consent that a decision on using the frozen Russian assets will be a pivotal issue in the near future.
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Originally published on 8 Dec
JENSEN North America, a subsidiary of the JENSEN-GROUP, is pleased to announce the acquisition of the business of G.A. Braun. This strategic move marks a significant milestone in the growth strategy of the JENSEN-GROUP, expanding its manufacturing footprint, product portfolio, and service network across North America.
Founded in Syracuse, New York, G.A. Braun is a respected supplier with a well-established brand in the laundry equipment market in North America. The acquisition reflects JENSEN-GROUP’s strong commitment to the North American market and its long-term strategy to strengthen local operations and manufacturing capabilities.
With this acquisition, JENSEN gains access to Braun’s state-of-the-art production facility with a strong reputation and a loyal customer base. Both brands will continue to co-exist, building on their respective legacy and customer relationships. This approach allows both JENSEN and Braun to preserve what makes each brand unique, while joining forces to deliver even greater value, innovation, and support to customers across North America.
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