During Crown Princess Victoria of Sweden’s visit to Latvia on October 21, the Latvian Investment and Development Agency (LIAA) organized a meeting between Latvian entrepreneurs and Swedish investors to discuss attracting investment and business growth. On the same day, LIAA Director Ieva Jāgere met with the Crown Princess at the Riga Graduate School of Economics for a roundtable discussion titled “Women in Business.” Both events focused on women’s entrepreneurship, talent development, and opportunities for cooperation between Latvia and Sweden.
LIAA Brings Together Businesswomen for a Discussion on Investment and Growth
At the LIAA Lounge, Latvian female entrepreneurs met with Lisen Oliw, a partner at the venture capital fund “BackingMinds,” and Michaela Berglund, founder of “Feminvest.” The meeting was moderated by LIAA Director Ieva Jāgere.
“Gender equality is part of the cultural code of Northern European societies. In business, this must also be reflected in the ability to attract capital and bring ideas to fruition. We have talented women with experience leading teams, developing products, and working in foreign markets. I would like to see more of this knowledge and ambition translate into internationally successful, women-owned companies. For Swedish investors, Latvia offers competent teams and companies with growth potential, while for our female entrepreneurs, such partnerships can provide both capital and market knowledge as well as new customers. The LIAA helps find partners with whom to bring these plans to fruition,” emphasizes LIAA Director Ieva Jāgere.
The meeting brought together representatives of Latvian companies and startups from various industries: Egija Gailuma (“Engycell”), Anna Ramata-Stunda (“Alternative Plants”), Elza Priedi (“StartSchool”), Anna Gabuniya (“L-Blend”), Ekaterina Romanova (“PrintyMed”), Solvita Kostjukova (“P-Agro Minerals”), and Laura Sičevska (“Smart Indicators”).
The participants presented their companies’ operations, growth plans, and interest in the Swedish market. In discussions with the investors, they explored business models, the funding needed for growth, and their companies’ readiness to attract investment. In addition to capital, the investors’ experience and international contacts—which can help find new clients and partners—were highlighted.
“BackingMinds” is a venture capital fund founded by women that seeks promising companies and founders outside the usual investor networks, including female entrepreneurs whose business potential has not yet been sufficiently recognized. “Feminvest,” on the other hand, promotes women’s participation in investing and, through its fund, invests in women-owned companies. The approach of both investors opens up opportunities for female entrepreneurs who need financing and a partner for further growth backingminds.com.
“Latvia needs more venture capital funds that invest in our companies and help them grow internationally. The availability of funding for companies in the early and growth stages remains insufficient. We have many experienced female leaders, but management experience alone does not guarantee the capital needed to develop a company. That is why investors who specifically seek out women-founded companies and recognize their potential are particularly valuable. “Through these meetings, we help Latvian female entrepreneurs come to their attention,” notes Vita Balode-Andrūsa, Director of the Export and Innovation Services Department at LIAA.
Ieva Jāgere Meets with Crown Princess Victoria for a Discussion on the Role of Women in Business
At the roundtable discussion titled “Women in Business,” held at the Stockholm School of Economics in Riga, the LIAA was represented by Director Ieva Jāgere and Vita Balode-Andrūsa, Director of the Export and Innovation Services Department. During the event, Ieva Jāgere met with Her Royal Highness Crown Princess Victoria of Sweden. In the discussion, representatives from the business, financial, and public sectors discussed opportunities for women to develop businesses and fully utilize their knowledge and talents.
In her address, the Crown Princess emphasized the importance of education in developing talent and future leaders, while noting that no society can fully realize its potential if it is constrained by unequal opportunities. She highlighted gender equality as the foundation of a democratic society, which also strengthens the economy.
“I welcome the Crown Princess’s emphasis on the link between talent development, equal opportunities, and economic growth. Investment in education yields greater returns when women can fully utilize their knowledge—to lead companies, drive innovation, and bring business ideas to life,” notes Ieva Jāgere, Director of the LIAA.
The Crown Princess also commended the achievements of Latvia and Sweden in terms of women’s representation in leadership positions, while emphasizing that challenges remain to be addressed. Eurostat data confirms the positions of both countries: in 2024, women held 44.4% of management positions in Sweden and 43.4% in Latvia. These were the two highest figures in the European Union, where the average proportion of women in management positions was 35.2%. Eurostat
Latvian expertise and Swedish capital — an opportunity for shared growth
During the roundtable discussion, Ieva Tetere, Chair of the Board of SEB Bank, highlighted the opportunity to combine the knowledge and growth ambitions of Latvia’s educated professionals with Swedish capital. Meanwhile, Anastasija Oļeiņika, President and CEO of the global e-commerce and technology platform “Fyul,” emphasized the importance of Swedish expertise and funding for the development of Latvian innovators and startups.
Lisen Oliw, a partner at “BackingMinds,” pointed to growing interest among Swedish investors in the Baltic region and spoke positively about the support available in Latvia for business development and acceleration. This helps foreign investors get to know Latvian companies and identify investment opportunities. “Feminvest” founder Michaela Berglund emphasized the importance of joint Latvian-Swedish policy initiatives in promoting investment.
The discussion also included a call to view the Baltic and Nordic countries as a single business and investment region, strengthening mutual investment and cooperation in innovation.
About the Latvian Investment and Development Agency (LIAA)
LIAA promotes the competitiveness of Latvian businesses, export growth, and the attraction of investment, while also developing the tourism sector and implementing the country’s image policy. The agency acts as the government’s partner in business development—from the initial idea to international markets. With an extensive network of representative offices abroad and regional business centers in Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative, and open country in the global economy.