ALTUM

The Joint-stock Company Development Finance Institution Altum (AS "Attīstības finanšu institūcija Altum" – ALTUM) is a state owned enterprise, which provides efficient and professional support to specific target groups in the form of financial instruments (loans, guarantees, investments in venture capital funds, etc.) and non-financial instruments (consulting, training, mentoring, etc.), but also performs other functions delegated by the government.

ALTUM was established on 15 April 2015, an integrated institution via merger of three institutions until then providing support in the form of financial instruments – Latvian Development Finance Institution Altum (ALTUM), Latvian Guarantee Agency and Rural Development Fund. State aid in the form of financial instruments, until then provided by the above mentioned three separate institutions, is since 15 April 2015 provided by Development Finance Institution ALTUM.

ALTUM’s shares are owned by the State of Latvia, the holders of the shares are the Latvian ministries of Finance, Economics and Agriculture.

ALTUM grants state aid in the form of financial instruments to the following target groups:

• Business start-ups
• Small and medium enterprises
• Farmers
• General population

The financial instruments offered by ALTUM are designed for companies at any stage of their development – from developing a business idea and launching a company to developing large-scale business projects and contributing to the growth of companies.

At the moment, ALTUM offers the following financial instruments:

• Investment loans and working capital loans for launching business and developing it;
• Guarantee programmes to enhance financial resources accessibility, export transactions risk insurance, energy efficiency and residential home loans;
• Venture capital;
• Non-financial support – mentoring, consulting, etc.