Outlast closes first €21 million fund to back early-stage founders in…

Team S · 2025-10-10T14:57:01.000Z

Latvian-Swedish VC firm Outlast has closed its debut fund at €21 million, intending to back pre-seed and seed startups across the Baltic and Nordic regions. The fund was founded by Egita Polanska, Marija Rucevska, Mikaela Pedersen, and Kristaps Prūsis. They plan to make 30-40 investments, primarily in the Baltics, with first cheques up to €250,000 at pre-seed and up to €1.5 million at seed. Anchor investors include the Latvian sovereign development fund ALTUM, the EU’s European Regional Development Fund (ERAF), family funds, and angel investors such as Davis Siksnans (CEO of Printful), Andrius Biceika (involved with Revolut), and the algorithmic trading firm Gravity Team. Early investments already made include Latvian biometric startup Handwave, AI SaaS firm Convershake, Norwegian healthtech MIA Health, Estonian marketplace Aggregate Markets, and Swedish chronic care platform Vitala.

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Outlast closes first €21 million fund to back early-stage founders in… | Newnex