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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Until March 16, the Riga City Municipality is accepting applications for the Riga Startup Accelerator and Incubator Support Programme. The programme aims to foster the growth of the startup sector in Riga by providing co-financing for business incubation and acceleration programmes. The budget for this programme in 2025 is EUR 170,000, with up to EUR 40,000 in co-financing available per applicant.
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Originally published on 4 Mar
GRAZ, MARCH 3, 2025. International technology group ANDRITZ has received an order for the authority engineering of a 100 MW green hydrogen plant in Rostock, Germany. The order was placed by REPCO (rostock EnergyPort cooperation GmbH), a joint venture of RWE Generation SE, EnBW Neue Energien GmbH, RheinEnergie AG and Rostock Port GmbH. Subject to the investment decision planned for mid-2025, REPCO intends to give ANDRITZ the notice to proceed with the supply of the plant. It will be one of the first plants in Germany to supply the German “Hydrogen Core Network” and the future European Hydrogen Backbone infrastructure, thus representing a key step in advancing Europe’s green energy transition.
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Originally published on 4 Mar
GaltTec, an Estonian deep-tech startup developing micro-tubular solid oxide fuel cells (mSOFCs) for portable and off-grid energy solutions, has successfully closed its pre-seed funding round, raising a total of €1 million from private investors and grants. The investment will accelerate the company’s mission to provide lightweight, long-lasting power solutions for drones and IoT devices, reducing reliance on conventional batteries. GaltTec was the only Estonian startup in the NATO DIANA Accelerator’s first batch.
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Originally published on 3 Mar
Last week, kood/Jõhvi JobFair brought together over 200 participants—young software developers, startup enthusiasts, film professionals, and technology sector leaders. One of the event’s highlights was the Film and Multimedia Accelerator panel, organized by the Tehnopol Startup Incubator, where experts discussed how IDA Hub is not just a film studio but a launchpad for technological innovation and startup growth.
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Originally published on 3 Mar
PAYSTRAX, a payment processing solutions provider, has announced further expansion of its Lithuanian operations. The company, which has successfully grown its presence in both Vilnius and Klaipėda, plans to strengthen its team across multiple departments in 2025, including Commercial, IT, and Finance.
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Originally published on 3 Mar
Tehnopol is part of the joint Northbound Scaleups (NBSCALE) project, which helps companies expand into new markets. The Estonian startup Phishbite went to visit Poland to look at possible target markets.
The goal was to meet at least five possible partners. “Making contacts was quite time-consuming and it was quite difficult to get through to the right people by telephone from here. The meetings we held went well, and we also managed to organise a couple of extra ones on the spot as well as those we had agreed in advance”, said co-founder of Phishbite Urmo Keskel.
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Originally published on 28 Feb
The Estonian Defence Industry Cluster today introduced the Baltic Drone Wall concept for the first time, which aims to strengthen the eastern border of the European Union and NATO. It is a cooperation initiative between Poland, Finland, Estonia, Latvia and Lithuania, which is currently joined by DefSecIntel Solutions, Rantelon, Marduk Technologies, Lendurai, Hevi Optronics, Frankenburg Technologies and TELEKONTA.
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Originally published on 28 Feb
Federal Express Corporation, the world’s largest express transportation company, has officially opened a new sorting facility in Vilnius. The new facility, being built as Lithuanian companies continue to show strong aspirations for international trade, provides businesses with improved cross-border e-commerce capabilities and streamlined logistics operations.
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Originally published on 27 Feb
In the coming years Ignitis ON, the leading EV fast-charging network, will become even larger and more convenient for EV drivers. The European Union (EU) made a decision to allocate EUR 16 million for the charging network’s expansion. The grant will help fund the installation of 500 new charging points. It is the largest-ever allocated sum to a charging network operator in the Baltics.
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Originally published on 27 Feb
The Baltic Sea plays an increasingly important role in the European energy sector, contributing both to energy security and the ongoing energy transition in the region. At ORLEN, we are committed to initiatives focused on this vital basin and fostering discussions on how to fully harness the Baltic Sea’s potential for the benefit of businesses and societies.
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