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International Internet Magazine. Baltic States news & analytics Tuesday, 27.02.2024, 15:37

Business angels have invested EUR 10.85 mln in Latvia's startups in 5 years

BC, Riga, 24.01.2020.Print version
Private investors or so-called business angels in five years have invested EUR 10.85 mln in Latvia's startups, Juris Birznieks, the board chairman of the Latvian Business Angel Network (LatBAN) at the annual investors event said LETA.

He said that in 20014-2019, LatBAN members have reviewed 650 different projects, conducted training in 150 startups, while 300 startups have participated in 60 investment sessions.

In total, LatBAN members have made 137 investments in 109 startups at the value of EUR 10.85 mln.

"About 40 percent of investments were made in the IT sector, followed by electronics sector and manufacturing of different products," said Birznieks.

He said that LatBAN currently has 50 members, but in five years 110 private investors have worked in the business angels network.

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