January 22, 2016
LatBAN: Professionalising Business Angel Activity in Latvia
Latvian Business Angel Network (LatBAN) is an organization which strives to support and develop the Latvian entrepreneurial ecosystem through the support of business angels. We are committed to unite all parties related to the investment process involving business angels in order to provide an accessible and structured entrepreneurial/investment environment in Latvia.
We believe that as a part of EBAN we will be able to combine international practices and know-how with the specifics of the enterprise and business environment in Latvia, which will not only contribute to a significant economic impact for the country but also an impact on a global level.
Our main goals are to:
- Organize and expand the activity of business angels in Latvia and to help fund promising new ventures. For this reason we organize pitch events that bring together business angels and entrepreneurs;
- Increase members knowledge and experience development;
- Promote of Angel investment principles;
- Organise local and international investment syndicates;
- Join and actively participate in international associations of business angels in order to share know-how and best practices, and attract investment;
- Defend industries’ interests;
- Collect and systematise statistical data;
- Cooperate with other organizations.
Jānis Rancāns is one of the Co-founders and Chairman of the Board of the Latvian Business Angel Network. He has extensive business strategy and management experience.
Linked-In profile: https://www.linkedin.com/in/janisrancans
Rolands Feldmanis, Co-founder, Vice Chairman
Juris Birznieks, Co-Founder, Board Member
Andris K. Berzins – Co Founder, Board Member
One of the leading initiatives for us is the building of the network and attracting Latvian business angels to invest in the local ecosystem through our monthly events called “Investment sessions,” where selected business projects get a chance to present themselves to our members. Almost every session ends with an investment. The projects that apply are not only from Latvia but also other countries. We are also one of the organisers for the event award “Investor of the year,” and we have brought forward an initiative for the government to co-finance a business project if a business angel has invested in it.
Most of our success stories are still in progress, but the one worth mentioning is “Perfume Vending” – Perfume spraying vending machines, which has attracted more than 0.5 million EUR in investments.