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LATVIAN GUARANTEE AGENCY. We are working , to see more successful enterprises in Latvia. We are a reliable partner , whe re a lack of funding hampers implementation of business ideas. Acquisition of public funding. * Committed liabilities.
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LATVIAN GUARANTEE AGENCY We are working, to see more successful enterprises in Latvia... We are a reliable partner,where a lack of fundinghampers implementation of business ideas...
Acquisition of public funding * Committed liabilities
Venture capital • Signed contracts with new risk capital fundson August 6, 2013 : • FLYCAP: focus on start-up companies with developed business model • EXPANSION CAPITAL: focus oncommercial productionbeginners • ZGI CAPITAL: focus on seed and start-up capital investments • Success cases: • IMPRIMATUR: Blue Bridge Technologies: Health IT: automating medical insurance claims processing, improving patient data security and decreasing administrative costs. Invested700 TEUR in 2011-2013 as early-stage startup capital. 5 new high-value jobs created in Latvia in computer science and international marketing . • BALTCAP: Primekss: industrial concrete flooring company. Unique, patented technology that allows to create concrete that is tougher, stronger, crack-free and ecologically friendly. Turnover has doubled from 8 MEUR to 16 MEUR in 2012, and more than 100 jobs have been created in the process. • Management cost does not exceed 3% on a yearly average in the level of financial intermediaries and <1% in the level of LGA
Mezzanine loan programme • Attractedprivate funding on August, 2013: 3 MEUR • On September, 2013 in the decision-making process 2 projects: IT and catering, 1.3 MEUR, and 2 projects are in pipeline; • The main planned changes to the programme: • a) exclusions from the restricted industries/ activities list; • b) mezzanine loan may be subordinated in relation to a long-term loan granted by a credit institutions or by a private investor • Direct sales of mezzanine loans to enterprises and seminars to bank project managers • Planned management cost will not exceed 2% on a yearly averageduring programme implementation, on August, 2013: < 1%
Guarantee programme • Attracted private funding > 200 MEUR • Export turnover covered by export credit guarantees > 70 MEUR • Defaulted guarantees: 1.2% of issued guarantee amount on August, 2013 • Management cost does not exceed 2% on a yearly average during programme implementation, • Planning to close 2.2.1.3.acitvity “Guarantee for development of enterprise competitiveness” on December 31, 2013
Micro-lending funds • Status: • State aid rules approved on June 18, 2013 • Procurement documentation in development – the last phase: legal advice on agreement conditions • The procurement procedure is expected to start in October, 2013 • Contracts with financial intermediaries are expected to sign in December, 2013 • The total micro-lending fund amount:5 MEUR, for one financial intermediary: max 1 MEUR
LGA publicity measures • Cooperation with banks («gate keepers»), meetings with management on regular basis; • Distribution of informative material (infographics, video); • Regional seminar programme: meetings with entrepreneurs in regions, direct transition of experience from mezzanine beneficiaries to interested parties; • Cooperation with sector associations; • Cooperation with partners (venture funds, NGO, TechHub, Enixus Baltija, Commercialization Reactor), using them as channels of information distribution; • Press conference about new venture funds; • Newsletters, social networking (twitter, Linkedin, LGA web); • Open Days in LGA; • Direct cooperation with media (summary of programms so far, experience stories, etc.), regular news for media about programme beneficiaries.
Latvian Guarantee Agency, Ltd Zigfrīda Annas Meierovica bulvāris 14, Rīga, LV-1050, Latvija T +371 67 216 081 F +371 67 359 374 www.lga.lv lga@lga.lv http://twitter.com/#!/lgalv