Outlast Fund Raises €21M First Fund To Support Baltic-Nordic Startups

The fund searches for the most promising founders in the Baltics and Nordics, ready to invest at the earliest stages to help them grow lasting companies. It particularly looks for experienced entrepreneurs with a proven track record, as well as first-time founders with unique insights in their fields.

A key trait Outlast Fund values is a strong drive to solve customers’ most important problems. Whether founders are starting small with angel or microfund support or aiming for larger rounds, Outlast Fund is ready to back them from the very first cheque.

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“At Outlast Fund, we believe that the real breakthroughs happen at the edges. This fund is built for the outliers. Rather than competing in the crowded middle, the focus is on being the very first cheque – either assembling a syndicate around an overlooked gem or partnering early with founders chasing global scale,” said Marija Rucevska,

Outlast Fund’s co-founding GP explains that with Stockholm home to some of Europe’s most exciting startups, it makes sense to connect the Baltic countries one of the fastest-growing startup hubs with Sweden’s experience and ambition, helping nurture the region’s next wave of success stories.

"Having spent a decade as an investor collaborating with founders and startups in Stockholm's venture ecosystem, I recognise a remarkable resemblance between Riga's current landscape and the early days of the Stockholm scene,” shared Kristaps Prūsis, Outlast Fund co-founding GP.

Outlast Fund was founded by four GPs with strong experience as founders, operators, and investors.

The team includes Egita Polanska, who brings operator and investor experience from top accelerators like TechStars (Seattle) and Startup Wise Guys; Marija Rucevska, founder of Helve and TechChill; Mikaela Pedersen, an operator and founder with a successful exit; and Kristaps Prusis, a founder and investor who previously founded VNTRS, making 50 investments with 5 exits.

While the fund invests across industries, the GPs’ expertise and networks give them particular strength in sectors like B2B SaaS, digital health and fintech. They focus on supporting founders who are passionate about solving real customer problems, often using the latest technologies.

Outlast Fund is supported by anchor LP ALTUM, the Latvian Development Finance Institution, the European Regional Development Fund (ERDF), and several high-net-worth individuals and family funds.

Notable backers include Davis Siksnans, CEO of Latvia’s first unicorn Printful; Andrius Biceika, who helped scale Revolut and serves on its European Supervisory Council; and the Gravity Team, a leading global algorithmic market maker and crypto liquidity provider.

About Outlast Fund

Outlast Fund supports disciplined founders creating lasting companies that succeed beyond trends and market changes. As generalist investors, they focus on software, science, and hard-tech at pre-seed and seed stages across the Baltics and Nordics. They lead, follow, but never stay on the sidelines, backing founders for the long term.