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.
Read full announcement (external link)
Originally published on 18 Sep
Announcements are published as a service to readers. The sender is responsible for all content. Announcements for publication can be submitted to announcements@thehanseatic.com.
To secure the status of Europe’s frontier DefenceTech destination, Estonia is moving fast, and is now building a pipeline for defence startups to win major international funding. Estonia’s Ministry of Defence, in collaboration with the Ministry of Economic Affairs and Communications, has established a pre-accelerator programme called the Defence Business Lab, according to the official press release.
Designed to help local companies compete more effectively in major international defence funding competitions, the programme aims to prepare early-stage development teams for successful applications to NATO DIANA (Defence Innovation Accelerator for the North Atlantic) and the European Defence Fund (EDF), two significant sources of defence funding.
Read full announcement (external link)
Originally published on 2 Feb
Innovation in Finland defines the way business operates. The country fosters ecosystems where global players connect, and technology leadership spans AI, connectivity, electrification, and defense. For international investors and partners, Finland offers advanced solutions and a collaborative model that accelerates impact.
“We are living in an AI supercycle,” notes Nokia’s Veli-Pekka Luoma, emphasizing Finland’s shift from connecting people to connecting intelligence. This vision is backed by robust infrastructure, cutting-edge R&D, and a commitment to sustainability.
Read full announcement (external link)
Originally published on 2 Feb
Enersense has signed an agreement with Lithuania’s VŠĮ Plačiajuostis Internetas, the state-owned organisation responsible for developing Lithuania’s broadband infrastructure, for the design and construction of telecommunications towers. The towers form part of Lithuania’s nationwide programme to expand high-speed broadband infrastructure.
The towers are steel lattice communication structures that form part of Lithuania’s essential digital infrastructure.
Read full announcement (external link)
Originally published on 29 Jan
Cast AI, the leading Application Performance Automation platform valued at over $1 billion, today announced it has won the European AI Award 2025 in the AI Business category. The award, presented by the European AI Forum (AIEF), recognizes outstanding achievements in AI that are shaping business, science, policy, investment, and ecosystem development across Europe.
Cast AI was honored for its platform that automates AI application performance in Kubernetes environments, delivering significant cost optimization and operational efficiency. The company was one of only three winners selected in the AI Business category, chosen from nominees across the continent for their contributions to economic growth, industrial competitiveness, and societal benefits through AI.
Read full announcement (external link)
Originally published on 2 Feb
We are proud to announce that the Latvian Association of Artificial Intelligence (MILA) has officially joined the Apply AI Alliance Stakeholders’ Catalogue.
This catalogue serves as the European Commission’s “official phonebook” of trusted organizations. It is the primary resource used by the Commission to identify stakeholders for shaping AI policy, participating in sectoral workshops, and attending annual AI Office gatherings.
Read full announcement (external link)
Originally published on 2 Feb
Today, 29 January, the Secretary General of the Estonian Ministry of Foreign Affairs, Jonatan Vseviov, the State Secretary of the German Federal Foreign Office, Bernhard Kotsch and the Vice-Minister of Foreign Affairs of Lithuania, Vidmantas Verbickas, signed a four-party cooperation memorandum in Tallinn aimed at strengthening ties between the countries in the fields of strategic communication and media literacy. The agreement was signed ahead of the meeting also by the Latvian State Secretary Andžejs Vilumsons, with Latvia represented at the meeting by the Inspector General of the Latvian Ministry of Foreign Affairs, Ilgvars Kļava. The agreement is an updated version of the cooperation memorandum first concluded between the foreign ministries of the four countries in 2015.
Secretary General Vseviov emphasised that in the context of growing foreign influence activities, disinformation and hostile propaganda, it is crucial to strengthen societal resilience. He noted that closer cooperation between like-minded countries is key to protecting and developing the democratic information space.
Read full announcement (external link)
Originally published on 29 Jan
The agreement between Södra and the Ingka Group’s investment company, Ingka Investments, regarding Södra’s forest holdings in the Baltics has now been approved and finalised.
With the aim of doing what is best for the forest estate and for Södra’s long-term competitiveness, Södra decided in early 2025 to divest all its forest holdings in Latvia and Estonia. Since the agreement with the buyer in October 2025, a competition review and approvals from local authorities have been underway – a process that has now been concluded. The transaction, with a purchase price of 720 million euros, is therefore complete.
Read full announcement (external link)
Originally published on 30 Jan
Last week marked the start of DIANA’s 2026 Programme, with 16 different regional kick-offs taking place across the Alliance. These events not only kicked off the official start of DIANA innovators’ acceleration journey, but also brought together a world-class community of innovators, industry leaders, accelerator partners, and defence representatives, all eager to shape the future of the Alliance.
The 2026 programme features DIANA’s largest cohort to date, involving 150 innovators with a clear mission: to drive innovation while helping ensure that the Alliance remains at the forefront of global defence and security challenges.
Read full announcement (external link)
Originally published on 30 Jan
To gain insight into available technologies and market maturity, understand technical solutions, innovations, assess delivery timelines and, lifecycle support Rai Baltica joint venture RB Rail AS, the central coordinator of the Rail Baltica project, is announcing a supplier consultation for the Yellow Fleet (rolling stock). Market participants are invited to take part in a supplier consultation related to the planned procurement of Yellow Fleet (maintenance rolling stock) for the long-term maintenance of the Rail Baltica railway infrastructure.
The consultation covers specialised maintenance rolling stock and on track/bimodal machinery required for routine and corrective maintenance, emergency and winter operations and inspection and diagnostics.
Read full announcement (external link)
Originally published on 30 Jan
A new special vessel has arrived in the work harbour in Rødbyhavn. It is the large floating crane “Hebo Lift 9”. The floating crane will place the enormous anchors on the seabed, to which the immersion pontoon IVY will be attached with long steel wires in connection with the immersion of the first tunnel element this spring.
A total of eight anchors weighing 500 tonnes each will be used. The anchors are shaped like large boxes and are lowered onto the seabed. After the immersion of an element, the anchors can then be picked up again by the crane and reused in connection with the immersion of the next element.
Read full announcement (external link)
Originally published on 30 Jan