Riga has a deep seed bench now. Change Ventures and Practica lead it. New state-backed funds add cash. Baltic startups raised a record in 2025. Here are 13 seed investors backing Riga startups in 2026.
Riga now holds a deep bench of active local seed funds. Change Ventures and Practica anchor most of the group.
New state-backed funds now add real early-stage cash. ALTUM has just seeded three brand-new local VC funds.
Baltic startups raised a record EUR 607M across 2025. Deep tech and AI drove most of that record growth.
You will pitch several of these funds in one cycle. Ellty keeps your whole deck behind one tracked link.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Change Ventures | VC (Riga) | EUR 100K-500K | Pre-seed tech, SaaS | changeventures.com |
| Practica Capital | VC (Baltic) | Seed-Series A | Fintech, SaaS, marketplaces | practica.vc |
| FIRSTPICK | VC (Baltic) | EUR 50K-250K | Fintech, SaaS, cyber | firstpick.vc |
| Iron Wolf Capital | VC (Vilnius) | Up to EUR 2M | Deep tech, AI | ironwolf.vc |
| Outlast Fund | VC (Riga) | Pre-seed, seed | B2B software | |
| Overkill Ventures | VC (Riga) | Pre-seed | B2B tech | overkill.vc |
| BADideas.fund | VC (Riga) | EUR 250K-1.5M | Pre-seed, seed | badideas.fund |
| Buildit VC | VC (Riga) | Pre-seed, seed | Hardware, deep tech | buildit.vc |
| Karma Ventures | VC (Tallinn) | Series A | Deep tech | karma.vc |
| Superhero Capital | VC (Finland-Baltic) | EUR 100K-500K | B2B SaaS | |
| Startup Wise Guys | Accelerator (Riga) | Seed tickets | B2B, fintech, cyber | startupwiseguys.com |
| S16 | Angel/seed fund | Angel tickets | Tech, SaaS | s16vc.com |
| ALTUM | State fund (Latvia) | LP commitments | VC funds | altum.lv |
Run your seed raise from one link
Ellty shows which VC opened your deck, so you follow up first, not late.
Start free 14-day trialWhat a Baltic seed VC backs
They back early traction and a sharp founding team. Some early revenue helps, but it is not required yet.
They want a clear wedge and a genuinely large market. The founding team has to ship product really fast.
Most of them write one of your very earliest cheques. They will often follow on into the priced seed round.
See our Riga angel investors list for earlier cash. Ellty shows exactly which fund opened your full deck.
Our goal is to help Baltic founders accelerate growth, test products in the Nordics, and scale into larger European and global markets.
13 Riga seed investors
1. Change Ventures
A Riga pre-seed VC backing ambitious Baltic founders.
Recent Activity: A Riga pre-seed backer of Baltic teams
LinkedIn: Change Ventures on LinkedIn
Sector Focus: Pre-seed tech, SaaS
Stage Focus: Pre-seed
Check Size: EUR 100K-500K
Location: Riga, Latvia
Website: changeventures.com
2. Practica Capital
A Baltic seed fund running a fresh EUR 80M fund now.
Recent Activity: Closed an EUR 80M Baltic fund
LinkedIn: Practica Capital on LinkedIn
Sector Focus: Fintech, SaaS, marketplaces
Stage Focus: Seed, Series A
Check Size: Seed-Series A
Location: Vilnius and Baltics
Website: practica.vc
3. FIRSTPICK
A Baltic first-cheque fund and startup accelerator.
Recent Activity: Closed an EUR 25M Fund II for the Baltics
LinkedIn: FIRSTPICK on LinkedIn
Sector Focus: Fintech, SaaS, cyber
Stage Focus: Pre-seed
Check Size: EUR 50K-250K
Location: Vilnius and Baltics
Website: firstpick.vc
4. Iron Wolf Capital
A pan-Baltic deep-tech fund with an EUR 100M fund.
Recent Activity: Runs an EUR 100M Baltic deeptech fund
LinkedIn: Iron Wolf Capital on LinkedIn
Sector Focus: Deep tech, AI
Stage Focus: Pre-seed, seed
Check Size: Up to EUR 2M
Location: Vilnius, Lithuania
Website: ironwolf.vc
5. Outlast Fund
A Riga and Stockholm fund backing B2B software teams.
Recent Activity: Closed a first EUR 21M Baltic fund
LinkedIn: Outlast Fund on LinkedIn
Sector Focus: B2B software
Stage Focus: Pre-seed, seed
Check Size: Pre-seed, seed
Location: Riga and Stockholm
Website: Outlast Fund on LinkedIn
6. Overkill Ventures
A Riga pre-seed fund backing B2B tech teams early.
Recent Activity: A Riga pre-seed B2B accelerator fund
LinkedIn: Overkill Ventures on LinkedIn
Sector Focus: B2B tech
Stage Focus: Pre-seed
Check Size: Pre-seed
Location: Riga, Latvia
Website: overkill.vc
Send each seed fund a tracked link
Ellty logs every open and read. Chase the keen funds first, not days too late.
Start free 14-day trial7. BADideas.fund
An ALTUM-backed Latvian pre-seed and seed-stage fund.
Recent Activity: An ALTUM-backed pre-seed fund
LinkedIn: BADideas.fund on LinkedIn
Sector Focus: Pre-seed, seed
Stage Focus: Pre-seed, seed
Check Size: EUR 250K-1.5M
Location: Riga, Latvia
Website: badideas.fund
8. Buildit VC
An ALTUM-backed hardware and deep-tech Latvian fund.
Recent Activity: An ALTUM-backed hardware and deeptech fund
LinkedIn: Buildit VC on LinkedIn
Sector Focus: Hardware, deep tech
Stage Focus: Pre-seed, seed
Check Size: Pre-seed, seed
Location: Riga, Latvia
Website: buildit.vc
9. Karma Ventures
An Estonian VC fund backing Baltic deep-tech teams.
Recent Activity: An Estonian fund backing deep tech
LinkedIn: Karma Ventures on LinkedIn
Sector Focus: Deep tech
Stage Focus: Series A
Check Size: Series A
Location: Tallinn, Estonia
Website: karma.vc
10. Superhero Capital
A Finland and Baltic seed fund backing B2B software.
Recent Activity: A Finland and Baltic seed fund
LinkedIn: Superhero Capital on LinkedIn
Sector Focus: B2B SaaS
Stage Focus: Seed
Check Size: EUR 100K-500K
Location: Helsinki and Baltics
Website: Superhero Capital on LinkedIn
11. Startup Wise Guys
The main pan-Baltic B2B startup accelerator and fund.
Recent Activity: The pan-Baltic B2B accelerator
LinkedIn: Startup Wise Guys on LinkedIn
Sector Focus: B2B, fintech, cyber
Stage Focus: Pre-seed, seed
Check Size: Seed tickets
Location: Riga and Baltics
Website: startupwiseguys.com
12. S16
A founder-led angel and early-stage seed-stage fund.
Recent Activity: A founder-led angel and seed fund
LinkedIn: S16 on LinkedIn
Sector Focus: Tech, SaaS
Stage Focus: Pre-seed, seed
Check Size: Angel tickets
Location: Baltics and global
Website: s16vc.com
13. ALTUM
Latvia's state fund sitting behind the new VC funds.
Recent Activity: Latvia's state fund behind the new VCs
LinkedIn: ALTUM on LinkedIn
Sector Focus: VC funds
Stage Focus: Fund-of-funds
Check Size: LP commitments
Location: Riga, Latvia
Website: altum.lv
State funds boosted the seed scene
ALTUM now anchors most of these new local VC funds. State cash sits right behind the whole seed market.
BADideas, Buildit and Outlast all just launched here. Together they add over EUR 62M in fresh founder cash.
Track every reader with strong document analytics. Ellty logs each open and every full read of your deck.
Keep your early diligence documents ready and tidy. Tidy, complete folders quickly win investor trust.
Deep tech and B2B lead deals
Deep tech and B2B drive most of the Baltic seed deals. Aerones and Giraffe360 both prove this point well.
Investors want real tech with a genuinely hard moat. Pure software wrappers alone simply will not do here.
Track every reader with a solid pitch deck tool here. Ellty logs every open and read across your whole deck.
Lock your model data with strong password protection. Ellty keeps every single file in one secure place.
Built for the Baltics and beyond
The Baltic home markets on their own are quite small. The real winners expand right across Europe early.
VCs here back teams that scale regional very fast. A local-only plan here rarely raises a full round.
Keep your investor relations warm right across borders. Ellty keeps every single fund on one tracked link.
Use the investor diligence checklist nice and early. Ready seed teams tend to close their rounds faster.
How to pitch a seed investor
Lead with traction and the team.
- 1.Lead with traction and the team.Show what you have shipped.
- 2.Name a clear, large market.Show your sharp wedge in.
- 3.State the raise and runway.Keep the ask simple.
- 4.Send one Ellty link to your deck.See which fund digs in.
How Ellty helps you land a seed investor in Riga
Your Riga seed list is ready. Set up a data room before the first call.
- 1.Upload your deck and key metrics.Keep every seed file in one room.
- 2.Send each fund a unique tracked link.Set view and download rights per fund.
- 3.Watch opens and follow up on time.Chase the funds that read to the end.
Riga seed funding questions
- Baltic VCs and state-backed funds. Plus angels.
- Often EUR 50K to EUR 2M. Some funds write more.
- Yes, ALTUM seeded three new funds. They add cash.
- Real traction and a sharp team. A hard moat helps.
- The home market is small. Europe is the real prize.
- Before your first VC call. Track who reads your deck.
