Venture Capital in Latvia

Vitas Dijokas and Alfred Vanags

No 1, TeliaSonera Institute Discussion papers from Baltic International Centre for Economic Policy Studies (BICEPS), Stockholm School of Economics in Riga (SSE Riga)

Abstract: As a member of the EU, Latvia is committed to the Lisbon Strategy, which aims to make the EU the ‘most competitive and dynamic knowledge based economy in the world’1. A critical factor for the success of this strategy is the way in which capital is mobilised to support entrepreneurship and innovation. This is true for the EU as a whole and also for Latvia in particular. In Latvia the overwhelming majority of enterprises are private companies who meet their capital needs either internally or in the form of bank loans. However, for fast growing or innovative companies these sources of finance may be inadequate. In such cases a special type of financing is often appropriate, namely venture capital (VC). Venture capital is a small but emerging sector of the Latvian capital market and the aim of this survey paper is to describe and evaluate the current situation of the venture capital market in Latvia.

Pages: 40 pages
Date: 2004-11
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Citations: View citations in EconPapers (1)

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