Enterprise Support for Participation in Capital Markets

Who can apply

Applications are open to companies registered in Latvia that qualify as SMEs or small mid-caps. The company's activity must focus on technological development, growth, and investment in research, development, and innovation. Companies with tax debts exceeding EUR 150 or those that have raised over EUR 1,000,000 via debt securities in the last 24 months are not eligible.

Maximum support

The maximum support per project is up to EUR 200,000 for equity issuance or up to EUR 120,000 for debt securities issuance.

Share of costs covered

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

What can be paid for

• Costs of capital raising and issue organizer services
• Costs of preparing, approving, and publishing the prospectus, offer document, or issue terms
• Due diligence and related expenses
• Costs of hiring and services of a certified trading venue advisor
• Financial, tax, audit, and certified consultant advisory fees
• Indirect project costs at a flat rate of 7% of direct costs
• Value added tax if not recoverable under national legislation

Key conditions

• Own co-financing of at least 50% is required
• For share issues, at least EUR 500,000 in capital must be raised
• Support is paid out only after successful listing of shares or debt securities on a trading venue
• Project implementation must be planned no later than 31 December 2029
• Export turnover and productivity must increase within five years after market listing

How to apply

Applications must be submitted electronically via the Cohesion Policy Funds Management Information System (KPVIS project portal). Applications are evaluated in the order received until 31 December 2026.