What we are
ALTUM is a state-owned development finance institution, 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.
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
ALTUM provides loans and credit guarantees, offers insurance for business export deals and investment to venture capital funds, and offers non-financial support in the form of consultations, education, mentoring, and more.
ALTUM supports enterprises at different stages of their development, starting with developing business ideas to carrying out large projects if financing is not available in the private finance sector. State aid financial instruments administered by ALTUM, are meant for business start-ups, enterprises, rural enterprises and individuals.
Sate 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. 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.