AS “Attīstības finanšu institūcija Altum” (ALTUM) is a Latvian state-owned development finance institution that provides public-support financial instruments to enterprises and households in areas identified as strategically important for the country’s economy.2 Its role is to complement private-sector financial services by improving access to finance where commercial funding may be insufficient.2
The company was incorporated under Latvian law on 27 December 2013.10 Its present organisational structure was established on 15 April 2015 through the merger of three state-support institutions operating in separate areas.10 ALTUM is registered as a public limited company under registration number 50103744891.3
ALTUM is headquartered at Doma laukums 4 in Riga, Latvia.3 Its activities are primarily national, supporting economic development throughout Latvia rather than operating as an international banking network. The institution has no foreign branches, according to available organisational information.12
Its main instruments include loans, credit guarantees and investments in venture-capital funds.2 The organisation supports small and medium-sized enterprises, larger businesses, farmers, households and social enterprises. Its programmes cover start-up and investment finance, working capital, export-credit guarantees, energy efficiency, digitalisation, sustainable and innovative projects, affordable rental housing, agricultural finance and housing support for families and young professionals.2 ALTUM also manages the Latvian Land Fund, which provides land-related support to farmers.2
As of 31 December 2025, ALTUM’s gross support-instrument portfolio amounted to €1.501 billion.