Latvian Private Equity and Venture Capital Association (LVCA)

Background

Established in 2003, the Latvian Private Equity and Venture Capital Association (LVCA) is a non-profit organization dedicated to fostering the development of the venture capital industry in Latvia. Founded by six leading venture capital firms—BaltCap Management Latvia, EKO Investors, Hanseatic Capital Latvia, NCH Advisors INC., Norwegian-Latvian Entrepreneurship Development Fund, and Small Enterprise Assistance Funds—alongside the Investment and Development Agency of Latvia, LVCA aims to:

Inform entrepreneurs and the public about venture capital financing opportunities.

Promote knowledge and experience exchange among association members.

Represent industry interests to state institutions and legislators.

Facilitate cooperation with international and foreign venture capital associations.

As of 2025, LVCA comprises 40 organizations, including fund management companies overseeing diverse investment funds and legal and financial consultants active in the industry. Since its inception, LVCA has been an associate member of the European Private Equity & Venture Capital Association (now Invest Europe).

Key Strategic Focus

LVCA's strategic focus centers on enhancing the venture capital ecosystem in Latvia by:

Education and Awareness: Conducting seminars, courses, and public events to educate entrepreneurs about venture capital financing.

Industry Representation: Advocating for favorable policies and regulations by engaging with government bodies and legislators.

Networking and Collaboration: Organizing events to facilitate collaboration among local and international venture capital entities.

Financials and Funding

As a non-profit association, LVCA does not engage in direct investment activities or manage investment funds. Its financial resources are primarily derived from membership fees, sponsorships, and event revenues, which support its operational activities and initiatives.

Pipeline Development

While LVCA does not develop a product pipeline, it plays a pivotal role in supporting the growth of Latvia's venture capital industry by:

Organizing Educational Programs: Collaborating with academic institutions to offer courses like the "Introduction to Private Equity and Venture Capital," developed in partnership with the Stockholm School of Economics in Riga.

Hosting Industry Events: Co-organizing the annual "Gada Investors" awards ceremony to honor significant investment projects and investors contributing to the growth of Latvian startups.

Technological Platform and Innovation

LVCA does not possess proprietary technologies or scientific methodologies. Its innovation lies in creating platforms for knowledge exchange, industry collaboration, and fostering a supportive environment for venture capital activities in Latvia.

Leadership Team

LVCA's leadership comprises experienced professionals from the venture capital and private equity sectors:

Kristīne Bērziņa: Chairwoman of the Board and Founding Partner at Livonia Partners.

Agnese Kalniņa: Executive Director.

Edgars Pīgoznis: Honorary Member of the Board and Partner at Glücksburg Investment.

Matīss Neimanis: Board Member and Managing Partner at Buildit Accelerator.

Sandijs Āboliņš-Ābols: Board Member and Partner at BaltCap.

Sigvards Dzelzkalējs: Board Member and Director at Superia.

Harijs Švarcs: Board Member and Partner at SG Capital.

Jānis Skutelis: Board Member and Partner at FlyCap.

Rūdolfs Krese: Board Member and Partner at ZGI Capital.

Vanesa Strautniece: Board Assistant.

Leadership Changes

As of May 2025, there have been no significant recent changes in LVCA's leadership team.

Competitor Profile

LVCA operates within a collaborative environment alongside other Baltic private equity and venture capital associations:

Estonian Private Equity and Venture Capital Association (EstVCA): Represents Estonia's venture capital industry, focusing on similar objectives of industry development and representation.

Lithuanian Private Equity and Venture Capital Association (LT VCA): Serves Lithuania's venture capital sector with comparable goals and activities.

These associations work together to enhance the Baltic region's venture capital ecosystem, as evidenced by joint initiatives like the Baltic Private Equity and Venture Capital Market Overview reports.

Strategic Collaborations and Partnerships

LVCA actively collaborates with various organizations to strengthen the venture capital landscape:

Baltic Private Equity and Venture Capital Market Overview: In partnership with EstVCA, LT VCA, and KPMG Baltics, LVCA co-publishes annual reports providing insights into the Baltic venture capital market.

Educational Initiatives: Collaborates with the Stockholm School of Economics in Riga to offer courses like "Introduction to Private Equity and Venture Capital," aimed at educating future industry professionals.

Operational Insights

LVCA's strategic considerations include:

Advocacy: Engaging with policymakers to create a favorable regulatory environment for venture capital activities.

Networking: Facilitating connections among investors, entrepreneurs, and service providers to stimulate deal flow and industry growth.

Education: Providing resources and training to enhance the skills and knowledge of industry participants.

Strategic Opportunities and Future Directions

Looking ahead, LVCA aims to:

Expand Membership: Attract more members to broaden its influence and resources.

Enhance Educational Programs: Develop new courses and workshops to address emerging trends and challenges in the venture capital industry.

Strengthen Regional Collaboration: Deepen partnerships with Baltic and European venture capital associations to promote cross-border investments and initiatives.