On the 17th of December Latvian Venture Capital Association (LVCA) held the annual closing event. This time the event was especially remarkable because of the 10th anniversary of the association. LVCA Board member and former chairman of the moard, manager of the leading SME financing company in the Baltics Capitalia, Juris Grišins: “Venture capital in our country is still rather under-developed and for the next ten years we have to work hard until it takes stable and self-sufficient role in the Latvian financial system."
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.
Capitalia manager Juris Grišins participated in the conference organized by Ministry of Economics representing Latvian Venture Capital Association and presenting overview on alternative financing issues in Latvia.
The presentation reviews the current situation and the future perspectives of business microlending, mezzanine and venture capital sectors. For entrepreneurs interested in business financing there is relevant information mentioned in the presentation about the alternative investment providers in Latvia. The main finding from the presentation says that the financing for businesses is still difficult to access and to stimulate the availability further and continuous government support is necessary.