BaltCap invests in Pure Chocolate

Pure Chocolate has previously received state support to finance its growth, having been granted a development loan for expanding production and export loan guarantees for selling into new markets from development finance institution Altum.

Altum is the largest investor in BaltCap's Latvia Venture Capital Fund.

Company
Pure Chocolate produces chocolate truffles and other chocolate products, which are sold in Latvia and exported to 20 other markets globally. These include Lithuania, Estonia, Russia, Germany, Romania, Australia, Norway, Finland, the US, Saudi Arabia, Qatar and Japan. The truffles are made using Belgian chocolate combined with fillings and natural garnishes.

Pure Chocolate was founded in 2007 in Pure, near Riga. In 2014, the company reported turnover of €3.35m.

People
Pēteris Žimants is chairperson of Pure Chocolate. Astra Neimane is an investment director at BaltCap.

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• Topics
• CEE
• Expansion
• Consumer
• Baltcap Management Ltd
• Latvia