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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In 2024, the Estonian government and Enterprise Estonia committed to implementing a new incentive for large-scale investments. Scheduled to run from 2025 to 2028 and with a total budget of €160 million, the measure aims to increase the competitiveness, export capacity, and added value of businesses operating in Estonia. The Estonian Minister of Economic Affairs and Industry, Erkki Keldo, signed the measure in the first half of February. Applications, managed by Enterprise Estonia, are scheduled to open in March.
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Originally published on 10 Feb
To keep potential suppliers and partners informed about procurement priorities for 2025, the Rail Baltica global project is providing a comprehensive overview of ongoing and upcoming procurement activities. These procurements focus on essential services that drive the advancement of the Rail Baltica project, covering key areas such as superstructure construction, environmental assessments, and design work for specific infrastructure elements and facilities.
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Originally published on 10 Feb
Draugiem Group company Mapon expands its presence in the Nordic region by acquiring 100% of the shares in Interkom AB, a fleet management provider based in Lund, Sweden. Mapon and Interkom AB offer fleet management and GPS tracking solutions, helping clients optimize resource management, enhance road safety, and promote sustainable corporate governance. This acquisition strengthens Mapon’s customer base in Sweden and brings in a team of seasoned professionals, enabling faster growth in the Swedish market.
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Originally published on 10 Feb
On 9 February, President Edgars Rinkēvičs paid a working visit to Vilnius, Republic of Lithuania. During the visit, President of Latvia met with the President of the Republic of Lithuania, Gitanas Nausėda, the President of the Republic of Estonia, Alar Karis, the President of the Republic of Poland, Andrzej Duda, and the President of the European Commission, Ursula von der Leyen. The officials discussed the accession of the Baltic states to the European energy system, the protection of critical infrastructure, the strengthening of transatlantic relations, the development of the European defence industry, the implementation of key regional infrastructure projects, as well as support for Ukraine and sanctions policy towards Russia.
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Originally published on 9 Feb
Estonia, Latvia, and Lithuania have successfully synchronised their electricity systems with the Continental Europe Synchronous Area on 9 February 2025 at 2:05 PM. This is a key milestone for the Baltic States and for Europe strengthening the energy resilience and independence across the region.
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Originally published on 9 Feb
On February 20-21 in Stockholm, Techarena 2025 will gather +12,000 business leaders, founders, investors, and decision-makers to explore and discuss global trends, emerging technologies, the startup ecosystem, and the future of industries. Ticket holders will have access to an insightful panel discussion on the future of DefenceTech. Moderated by Ms Kadri Tammai, Regional Director of NATO DIANA, the panel will feature the Minister of Economy and Industry of Estonia, Mr Erkki Keldo, Head of Strategy and Portfolio at Saab Surveillance, Mr Hampus Delin, and Deputy Chief Sales Officer at Milrem Robotics, Mr Stefan Behre.
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Originally published on 6 Feb
After months of preparation, a fleet of 11 specialised vessels has mobilised to begin installing the foundations for Poland’s first offshore wind farm in the Baltic Sea. This stage has already seen the successful installation of the first two of a total of 78 monopiles – towering 100-metre steel structures that will support 15 MW wind turbines. These generation units are among the most advanced in the industry, with a portion being manufactured at Vestas’ facility in Szczecin. With a total capacity of 1.2 GW, the Baltic Power wind farm is set to commence operations in 2026, delivering clean, reliable electricity capable of powering over 1.5 million households. Offshore wind is a key element of the ORLEN Group’s new strategy, which targets the deployment of more than 4 GW of installed capacity in the Baltic Sea in partnership with leading industry players.
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Originally published on 6 Feb
Estonia and the other Baltic States will disconnect from the Russian-run electricity network on Saturday and connect to the Continental European Synchronous Area on Sunday. The main goal of connecting to the European electricity system is to make our electricity system stronger and ensure energy independence and security.
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Originally published on 5 Feb
The Baltic Startup Funding Report by Change Ventures and FIRSTPICK is a semi-annual publication of detailed data about funding rounds for startups in the Baltics, including companies with HQs elsewhere but with a dominant base in Estonia, Latvia, or Lithuania.
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Originally published on 5 Feb
Enable Banking and Qred announce a strategic partnership to revolutionize financing for entrepreneurs. By leveraging real-time financial data and seamless account-to-account payments, Qred enhances credit decisions and operational efficiency. This collaboration highlights the transformative power of open banking in supporting small businesses, enabling them to grow, invest, and expand with ease.
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Originally published on 31 Jan