“Investor of the Year” ceremony winners

On Friday, March 27, the annual central event of Latvia’s investment industry — “Investor of the Year” — took place in Riga, where a formal ceremony honoured the most significant investors, transactions, and contributors to ecosystem development over the past year. The event brought together investors, venture capital funds, private equity representatives, as well as financial and legal advisors.

“Investor of the Year” is a joint initiative of the Latvian Business Angel Network (LatBAN) and the Latvian Private Equity and Venture Capital Association (LVCA), established in 2015. Its aim is to strengthen investment culture, highlight best practices, and improve access to capital for Latvian companies.

Comment from Ansis Spridzāns, Chairman of the Board of LatBAN:“2025 has been significant in that a broader understanding is emerging — not only among financial professionals but also in society at large — that startup investments are an asset class worth considering when building an investment portfolio. As a result, we are seeing strong interest in LatBAN’s training programs and growth in membership. Another important development is the increasing collaboration between Baltic ecosystems, which previously operated more independently, as well as stronger cooperation within Latvia’s startup ecosystem itself. There is now a clear understanding that all ecosystem participants share a common goal — to attract more capital for the growth of promising Baltic startups.”

During the ceremony, awards were presented across several categories, recognising both large-scale institutional transactions and the contributions of private investors to the startup ecosystem.

“Investor of the Year” winners:

• Investment of the Year: Accession Capital Partners for “Project Nest,” under which Agrova International acquired 100% of the UK-based Sunrise Eggs, significantly expanding the Latvian company’s operations in Europe. 

• Exit of the Year: ZGI Capital for its exit from Echoo Group, which was acquired by global market leader Nordomatic, demonstrating the ability of Latvian companies to successfully integrate into global markets. 

• Best Syndicated Investment: ASP Asset Management AIFP for the LatBAN syndicate investment in Tournated. Within one year, the company’s valuation increased from €3.3 million to €15 million, making it one of the fastest-growing examples in the Baltic startup ecosystem. 

• Angel Investor of the Year: Ansis Spridzāns, for actively building syndicated investments and fostering investor collaboration across multiple startup deals. 

• Sustainability Award: Outlast Fund for its investment in Deep Space Energy, a company developing innovative energy solutions for extreme environments and gaining international attention, including from NATO. 

• Financial Advisor of the Year: Oaklins Latvia, for advising on several significant transactions, including Agrova International’s €40 million acquisition in the United Kingdom. 

• Legal Advisor of the Year: Sorainen, for its work on major and complex transactions in the Baltic region, including the €1.3 billion acquisition of Rimi Baltic. 

• Signet Bank Special Award – Institutional Investor of the Year: Luminor Asset Management, for significantly increasing investments in Latvian assets, reaching €1.08 billion in assets under management and contributing to the development of local capital markets. 

• Porsche Latvia Special Award: Entrepreneur and investor Antons Sapriko, who invested in more than 20 startups across the Baltics last year, actively supporting the region’s international growth. 

• Industry Supporter of the Year: Mārtiņš Mellēns, for his active involvement in education and training programs. 

• Long-Term Industry Supporter: Kristīne Bērziņa, for her long-standing contribution to the development of the private equity and venture capital industry in Latvia. 

  
  

The event also featured a high-level discussion on the development of Latvia’s investment environment. Representatives from the public and financial sectors highlighted the critical importance of capital availability, export potential, and international competitiveness for the country’s economic growth.

Reinis Bērziņš, Chairman of the Board of ALTUM:“For more than ten years, ALTUM has been a key driver of Latvia’s venture capital ecosystem, focusing on forward-looking investments. In the new EU funding period, ALTUM is implementing the largest investment volume in its history in this industry — investing more than €100 million, which we expect will drive strong competition and high interest from entrepreneurs.”

Roberts Idelsons, Chairman of the Board of Signet Bank:“Signet Bank is closing 2025 with the strongest financial results in its history, allowing us to play an even more active role in developing Latvia’s venture capital ecosystem. We see our role not only in providing financing, but also in connecting investors and entrepreneurs, helping ambitious local companies attract capital for future growth.”

As highlighted by the organisers, “Investor of the Year” once again confirms that Latvia’s investment ecosystem continues to grow stronger and more mature. Private and institutional investors, together with the public sector, are increasingly working in alignment to support not only individual companies, but the broader development of the national economy.

The event was organised with the support of trusted partners: Porsche Latvia, Signet Bank, the Riga Investment and Tourism Agency (RIGA), and ALTUM, with co-financing from the European Regional Development Fund.

Additional information:More about the event and nominations: https://www.latban.lv/gada-investors