Altum-Public support, investment in local community development

Sabiedrības atbalsts

ALTUM’s management and employees actively engage in public education activities throughout the year, focusing on various initiatives aimed at business development, promoting societal well-being, contributing to climate change mitigation efforts, and fostering long-term economic growth. The leadership and staff of ALTUM primarily share their expertise in the following areas: sustainable financing, corporate governance, capital market development, meaningful utilization of financial instruments, including funding for green projects and digitization, as well as energy efficiency projects in both corporate and private segments. In total, ALTUM’s management and employees dedicated 738 hours to public education activities in 2023, participating in over 170 different conferences, expert discussions, and seminars aimed at both professional and general entrepreneurial audiences, and in some cases, private individuals.


Initiatives implemented in 2023:


Innovations, infrastructure

Three Seas Initiative Investment Fund (3SIIF)

Promoting a new financing initiative to support transport, energy and digital infrastructure projects in Central and Eastern Europe, boosting the region’s economic development and fostering infrastructure compliance with high standards. In June 2022, ALTUM co-organised the Three Seas Initiative Summit and Business Forum in Riga, attended by leaders from 12 countries.

Investor of the Year Award

Investor of the Year 2023 Award for the most significant investments in Latvia last year. Popularization of venture capital investments and their positive effect on the national economy of Latvia, highlighting the most successful private and corporate investment deals.

Development of business environment

Venture capital: 5th generation program

On August 15, 2023, the Cabinet of Ministers approved a new European Union Structural Funds support program for venture capital investments in entrepreneurship, with a total available public funding of EUR 93 million, aimed at promoting the establishment and development of new, innovative businesses with high growth and productivity potential in Latvia.

To ensure the successful implementation and uptake of the program, ALTUM announced a procurement for the selection of pre-seed and seed fund managers in 2023, allocating a total of EUR 55.8 million in public funding to three fund managers. Additionally, in December 2023, ALTUM announced a procurement for the selection of managers for the startup growth fund, with available public funding of EUR 12.4 million, and the growth fund, with available public funding of EUR 24.8 million, with the aim of selecting one fund manager for each.

The selection of fund managers is planned to be completed by May 2024.

 To inform about the criteria of the fund manager selection, ALTUM organized an educational seminar in 2023, where ALTUM representatives explained the rules, selection criteria, and held a questions and answers session. 

Seminars about digitalisation programme

In 2023, in collaboration with the Ministry of Economics and the European Center for Digitalization and Innovation, ALTUM organized an event to unveil the RRF Digitalization Program.

Several webinars were held on the Recovery and Resilience Facility programs, support availability for digitalization in businesses, and loans with capital rebate for digitalization. Educational events in 2023 were conducted both online and in-person in regions such as Rezekne and Liepaja. ALTUM representatives also shared information on digitalization funding availability in partnership events held in Smiltene, Ungurpils, and Saldus.

Seminars about loans with capital rebate

ALTUM organized a webinar on large investment loans with capital rebate. The loan is intended for medium and large enterprises planning to invest at least EUR 10 million in the company’s growth.

Competition “Laukiem būt!” 

Promotion of entrepreneurial activity in rural areas by involving young people, fostering the development of their competencies and involvement in rural entrepreneurship in cooperation with the Latvian Rural Advisory and Training Centre, while promoting a more balanced regional development in Latvia.

“Business Pride” award of the year

In 2023, ALTUM supported the “Business Pride 2023” award. The competition honoured the most successful and innovative companies that, in 2022, were able to create innovative products and found their true business idea and niche, which they successfully developed in both local and foreign markets.

III Risk Management Conference

Participation in the panel discussion “Management of Business Continuity Risks”

Latvian Capital Market Forum 2022

Latvian Capital Market Forum – Participation in expert panel discussion “The Role of Capital Markets in Financing Sustainable Economies”.

Environmental impact, green thinking, sustainability

Seminars on energy efficiency loans with capital rebate

Event “30 Years of the Single Market – Future Opportunities for Entrepreneurs in Latvia” held in collaboration with the EU House.

Seminar on European and national support programs for residents and entrepreneurs in regions. Organized in cooperation with members of the Latvian Association of Municipal Executives. Sharing opportunities for fund utilization that can promote growth in each municipality.

Recovery and Resilience Facility

RRF Funding Program: 2nd Round Launch Event/Webinar

Informational events on the insulation of apartment buildings and improving energy efficiency

Seminar “How to Successfully Prepare a Project for the RRF Apartment Building Energy Efficiency Program”

ALTUM’s participation in the “Home 2023” conference on the topic “What state support is available for improving and renovating #energyefficiency in apartment buildings?”

Participation in the “Home” exhibition on house insulation with EU support.

Participation in on-site events and webinars organized by partner organizations on the renovation of apartment buildings with EU support, the necessary steps, and funding availability.

Participation in events on house insulation in regions – in Jūrmala, Valmiera, Limbaži, and Dobele.

Nordic Investment Bank stakeholder discussions Latvia 2030 High-Level Expert Conference on “Sustainable Urban Development”

ALTUM representatives’ participation in the expert panel discussion “Future Financing: Unlocking Green Opportunities in Latvia”.

Latvia 2030 High-Level Expert Conference on “Sustainable Urban Development”

LTUM representatives’ participation in the Latvia 2030 High-Level Expert Conference on “Sustainable Urban Development: Creating a Green Investment-Based Modern and Smart Living Environment”. The focus was on attracting “green” investments for innovative urban environments (utilizing new technologies, sustainable materials, implementing digital transformations, etc.).

The third national roundtable discussion

ALTUM representatives’ participation in a roundtable discussion. Next steps in attracting private funding for energy efficiency financing, “SME sustainability and development – if funding for energy efficiency is available, what else can we improve?”

Forum “Longevity”

Participation in the Sustainability Forum, which aims to ensure a sustainable future. In the midst of climate change, which significantly impacts human well-being, the economy, and security, and puts pressure on business operations, solutions are sought to achieve economic benefits through sustainable and environmentally friendly practices. In 2023, ALTUM’s Chairman of the Board, Reinis Bērziņš, delivered a presentation titled “Adapting Step by Step to the New Decarbonization Requirements in Supply Chains” at the forum.

Participation in webinars related to energy efficiency.

Participation of ALTUM representatives in Elektrum webinars “Power up your business with solar energy” and “Energy Efficiency Guide for Business”, as well as in the “Solar Solutions Conference” organized by the ELKO group on AER financing. Participation in the European Investment Bank (EIB) organized meeting “Elena contractors meeting 2023”.

Expert discussion organized by Latvijas Banka, Nasdaq, and the Corporate Governance Advisory Board: “Sustainability – a contemporary component of corporate governance and growth”.

Participation of ALTUM representatives in the panel discussion “ESG affects all company processes, from risk management to new products and investor relations. How to integrate it into the company with vertical management processes?”

Training series organized by LTRK on ALTUM programs

A series of educational events on energy efficiency and sustainability-related programs, including visits In two companies, which have receive funding from ALTUM.

Training series organized by LTRK on ALTUM programs

A series of educational events on energy efficiency and sustainability-related programs, including visits In two companies, which have receive funding from ALTUM.


Education and Science Ministry’s conference on governance of universities

ALTUM representatives’ participation in an expert panel discussion on corporate governance and university boards.

Latvian Student Company Festival #CitsBazārs

Educating a new generation of entrepreneurs and industry experts by linking theoretical knowledge with practice through the Junior Achievement Latvia programme “Skolēnu mācību uzņēmums” (SMU) (Student Company).

Lectures for university students

ALTUM representatives gave lectures in environmental engineering to students at Riga Technical University. Lectures on business plan development were delivered at RISEBA, Riga Technical College, Turība University, and Rīga Stradiņš University. Lectures on current issues in building insulation were given at Riga Construction College.

In 2023, ALTUM employees also participated as volunteer trainers in the MOT program.

Public welfare, demography

The opening of the “Rūre” Care and Health Center.

With ALTUM support, a modern social care and health center “Rūre” has been established in Liepāja. The event marked the conclusion of the project, unveiling a significant social care, rehabilitation, and palliative care center for the residents of the Kurzeme region, which is the first of its kind in Latvia.

Competition “Tam labam būs augt 2023” (What is good will grow)

The aim is to promote the development of the existing social enterprises and new social entrepreneurship ideas as well as to tell about these ideas and show them to the people of Latvia. The competition is organized by the Social Entrepreneurship Association of Latvia in cooperation with the British Council in Latvia together with Luminor Bank.

Financial sector development

Finance Latvia Association

Promoting the sustainable development of the financial sector by developing in-depth group work with commercial banks on credit development, human resources, communication, legal and other issues and to facilitate exchange of views and decision-making in the interests of the people of Latvia.


Export and Innovation Award

Promoting the production of new and exportable products, promoting the performance of Latvian entrepreneurs and expressing appreciation for providing the market with high-quality domestic products, introducing innovations and developing industrial design. ALTUM special award in the Safe Exporter category.