Outlast Fund Launches €21 Million Fund to Back Founders from the Baltic-Nordic Region

Outlast, a Venture Fund built by investors and operators from the Baltics and Nordics, led by Kristaps Prusis, Egita  Polanska, Marija Rucevska, Mikaela Pedersen, and Laima Staune, has launched its first fund at 21 million EUR to invest in pre-seed and seed-stage startups from the Baltic-Nordic region. The fund has already invested in 5 startups, including Handwave (Latvia), Convershake (Latvia), MIA Health (Norway), Aggregate Markets (Estonia), and Vitala (Sweden). Outlast Fund is backed by anchor LP ALTUM, the Latvian Development Finance Institution, the European Union’s European Regional Development Fund (ERAF), and various high-net-worth individuals and family funds, including the likes of such operators as Davis Siksnans (CEO of the first Latvian unicorn, Printful), Andrius Biceika (who scaled and built Revolut, member of the Supervisory Council at Revolut Europe Holdings), and Gravity Team (one of the top algorithmic market makers and liquidity providers in the crypto space globally).

The fund, based in Riga and Stockholm, backs enduring solutions as a first investor, offering pre-seed tickets of up to €250,000 and seed rounds of up to €1.5 million.

The fund takes a contrarian approach, rejecting quick-exit VC playbooks to back promising founders in the Baltics and Nordics from the earliest stages, to build enduring companies.

Outlast Fund targets both serial entrepreneurs with proven track records and first-time founders with unique insights, prioritizing an obsessive drive to solve critical customer problems. The fund supports founders from the idea stage, whether building lean teams or aiming for large rounds, providing the first cheque rather than entering mid-stage.

Positioned in Stockholm, one of Europe’s leading startup hubs, the fund bridges the Baltic region, one of the fastest-growing startup ecosystems, bringing Swedish experience and ambition to nurture the area’s emerging founders.

The founding GPs’ deep experience enables hands-on support for startups during the critical pre-seed and seed stages, guiding go-to-market strategies, strategic positioning, and iterative growth.

Although the fund is industry-agnostic, the GPs leverage their networks and expertise to focus on sectors like B2B SaaS, digital health, and fintech, backing founders driven to solve real-world problems using cutting-edge technologies.