Outlast Fund is a Riga- and Stockholm-based venture capital firm founded in 2024 by Egita Polanska, Marija Rucevska, Kristaps Prusis, and Mikaela Pedersen. The firm was established to support both first-time and serial founders across the Baltics and Nordics, with a focus on startups that bring niche expertise and global ambitions.
Outlast Fund is sector-agnostic but places particular emphasis on B2B SaaS, fintech, digital health, and cybersecurity.
Its approach is to back founders at the earliest stages and help them scale their innovations beyond regional boundaries.
In September 2025, Outlast Fund closed its debut fund at 21 million euros. The fund targets pre-seed and seed investments, with plans to deploy capital into 30 to 40 startups. Approximately three-quarters of these investments will be concentrated in the Baltics, with the remainder in the Nordics.
Outlast writes initial pre-seed checks of up to 250,000 euros, while seed investments can go as high as 1.5 million euros. The fund is anchored by ALTUM, Latvia’s state-owned development finance institution, alongside the European Regional Development Fund (ERAF), high-net-worth individuals, and family offices.
Notable LPs include Davis Siksnans, CEO of Latvia’s first unicorn Printful, Andrius Biceika, an early Revolut operator, and Gravity Team, a global algorithmic market maker. Outlast stepped out of stealth in December 2024 and has already deployed capital actively.
Leadership
The firm is led by its four co-founders: Egita Polanska, Marija Rucevska, Kristaps Prusis, and Mikaela Pedersen. Together, they bring regional expertise in venture building, operational experience, and connections across the European startup ecosystem.
Investment Strategy
Outlast Fund’s strategy is to identify early-stage founders with specialized knowledge and the potential to build global businesses. By combining capital with its network of experienced operators and investors, Outlast positions itself as a hands-on partner for startups in the Baltics and Nordics.
Notable Investments
Before the official close of Fund I, Outlast had already made five investments. These include:
Notable Exits
As a debut fund launched in 2024, Outlast Fund has not yet reported notable exits.
Other
Outlast Fund benefits from the involvement of anchor LP ALTUM and other institutional backers that reinforce its credibility in the Baltic and Nordic startup ecosystems.
Its focus on early-stage ticket sizes makes it a relevant partner for founders seeking their first institutional capital.
