Twice per year the Bank of Latvia conducts a commercial bank survey including research of demand for business loans. Most of the banks since year 2010 have reported increasing demand for the particular type of financing. The trend seems to be clear and evident as the Latvian economic situation has experienced solid growth that in turn stimulates the entrepreneurial optimism and the desire to invest in business development. However, according to the quarterly report of The Financial and Capital Market Commission, despite the increasing demand, the total commercial bank business loan portfolio is declining.
On 9 April 2013 the regular General Meeting of Latvian Venture Capital Association took place and the main issue on the agenda was reelection of the board.
With full support from other members, the representative of Capitalia Juris Grišins will continue to perform his duties of board for the next two years.
Our aim is to contribute and promote the development of venture capital and alternative investments (microloan and mezzanine) sector in Latvia. Furthermore we will continue to assist to the government institutions to identify flaws and develop according support program to avoid them.
During the General Meeting the board adopted Code of Professional Ethics and changed the name of the Association to Latvian Private and Venture Capital Association.