Altum-About Altum-What we are

What we are

ALTUM is a state-owned capital company, which offers state aid for various target groups with the help of financial tools (such as loans, credit guarantees, investing in venture capital funds, etc.). ALTUM develops and implements state aid programmes to compensate for the market’s shortcomings that can’t be solved by private financial institutions.

State aid programmes administered by ALTUM, are implemented with public resources –European Union and other international institutions, national and ALTUM’s attracted financing. 


ALTUM’s shareholders consist of the Republic of Latvia’s Ministry of Finance, the Ministry of Economics and the Ministry of Agriculture.


We help Latvia grow!


To be a partner and financial expert
in economical development.


What we do?

    • Support for business start-ups and encouraging self-employment
    • Support to stimulate entrepreneurship – business development and improvement of competitiveness, implementation of technologies and innovation
    • Support for rural enterprises and regional development
    • Facilitating export
    • Development of venture capital industry
    • Support for the start-up ecosystem
    • Improving energy efficiency
    • Administering the Land Fund’s operations
    • Support for purchasing housing for families with children


Our values


We work professionally in a unified team together with our customers and partners, thereby creating and implementing effective state aid programmes that are relevant to our client's needs.


Making use of our experience and creative perspective, we strive for excellence in everything we do. We constantly develop ourselves. We take on the complicated, yet finish with simplicity. We look at things and challenges creatively.


We strive to reach our goals, pursue everyday work with efficiency, fairness and respect.


Strategic development directions and long-term objectives


To support and facilitate availability of finances to business and to contribute to national economic development


The main financial objective in implementing the state support programmes is to ensure positive return on Altum’s capital


Altum priority areas include: 

  • issuing and servicing guarantees and loans
  • venture capital investments
  • solutions for climate change mitigation including implementation of energy efficiency programmes in both the residential building and corporate segment
  • initiation of new projects by expanding the range of the financial instruments offered
  • the development of the Latvian Land Fund

The main target activities embrace support for entrepreneurs, farmers and certain categories of persons, energy efficiency; the management of the Latvian Land Fund


Altum will particularly focus on environmental, social and corporate governance (ESG) considerations, both in financing decisions and in Altum's internal processes.


The leadership of the company is organized according to good case practices of corporate governance in accordance with the Development Finance Institution LawLaw On Governance of Capital Shares of a Public Person and Capital Companiesthe Commercial Lawthe Cabinet Regulations regarding ALTUM Advisory Council and other binding normative acts. ALTUM’s statues are approved by the Cabinet of Ministers of the Republic of Latvia.