ASP Altum feeder fund & LatBAN Members Invest €500K in Buildit VC and Outlast Fund to Boost Latvian Startup Ecosystem

Members of the Latvian Business Angel Network (LatBAN) have made a powerful statement of support for the future of innovation in Latvia, investing €500,000 as a syndicate into two venture capital funds — Buildit VC and Outlast Fund — both backed by ALTUM.

This joint investment marks a significant milestone for the Latvian startup ecosystem, signaling a new era of collaboration between angel investors and professional fund managers. By aligning with local VC funds, LatBAN members are helping to bridge the gap between early-stage capital and long-term growth strategies.

“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,” said Ģirts Līcis, LatBAN Chairman and angel investor. “Strong ecosystems are built on alignment. And alignment comes from skin in the game.”

The investment into Buildit VC and Outlast Fund opens new doors for angel investors to engage more deeply in the startup journey — from deal flow to mentorship and strategic guidance.

Matīss Neimanis, Partner at Buildit VC, emphasized the importance of this partnership:

“We see this commitment from LatBAN as a vote of confidence in our investment strategy and long-term vision. Having experienced angel investors on board strengthens our ability to support ambitious founders and build globally competitive companies.”

Marija Ručevska, GP at Outlast Fund, echoed the sentiment:

“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.”

This move sends a clear message to startup founders across Latvia and the Baltics — private investors are not only watching, they’re ready to invest, mentor, and help build the next wave of regional success stories.