Enterprise Support for Participation in Capital Markets

Who can apply

Capital companies registered in the Commercial Register of Latvia that qualify as small and medium-sized enterprises (SMEs) or small mid-caps can apply. The enterprise's activity must focus on technological development, growth, and investment in research, development, and innovation.

Maximum support

The maximum support is up to 200 000 euro for equity issuance and up to 120 000 euro for debt securities issuance.

Share of costs covered

The support rate does not exceed 50% of the total eligible project costs.

What can be paid for

• Costs of capital raising and issue organizer services
• Costs of preparing, approving, and publishing prospectuses, offering documents, or issue terms
• Due diligence and related costs
• Costs of hiring and services of a certified trading venue adviser
• Other financial, tax, audit, and certified consultant advisory costs
• Indirect eligible costs at a flat rate of 7% of direct eligible costs
• Value added tax if it is not recoverable under tax regulations

Key conditions

• For equity issuance, at least 500 000 euro in capital must be raised
• The beneficiary must provide at least 50% own co-financing free from public support
• Support is disbursed after successful listing of shares or debt securities on the trading venue
• Project implementation must be planned no later than 31 December 2029
• Export turnover and productivity must be increased within five years after listing
• Compliance with the "do no significant harm" environmental principle is mandatory

How to apply

The project application must be submitted electronically via the Cohesion Policy Funds Management Information System (project portal). Applications are accepted in an open selection procedure by the Central Finance and Contracting Agency until 31 December 2026. Applications are evaluated in the order of submission.