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.
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
Strategic development directions and long-term objectives
The leadership of the company is organized according to good case practices of corporate governance in accordance with the Development Finance Institution Law, Law On Governance of Capital Shares of a Public Person and Capital Companies, the Commercial Law, the 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.