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Zivkovic Samardzic Advises South Central Ventures on Dry Tools Transaction

Zivkovic Samardzic Advises South Central Ventures on Dry Tools Transaction


Zivkovic Samardzic has advised South Central Ventures (SCV) on a complicated transaction involving its portfolio company Dry Tools and acquiring company Alchemy Cloud Inc.

Dry Tools – according to Zivkovic Samardzic – "operates in the software developing tooling sector," while Alchemy Cloud is the "company behind Alchemy, a cloud-based SaaS platform for the specialty chemical industry that facilitates the commercialization of new formulations, [and] is based in San Francisco and has offices in both San Francisco and Novi Sad, Serbia."

Zivkovic Samardzic describes SCV, which manages the Enterprise Innovation Fund (ENIF), as "a venture capital fund focusing on highly specialized, innovative small and medium-sized enterprises in the Western Balkans." The firm reports that "investors into ENIF are the European Commission, the European Investment Fund, the European Bank for Reconstruction and Development, Kreditanstalt fur Wiederaufbau together with institutional and private investors from the Western Balkans. The EUR 40 million fund is dedicated primarily to early stage and growth investments, intended to fuel international business expansion and growth."

Zivkovic Samardzic supported SCV with earlier investments in Serbia, including the investment in Dry Tools (as reported by CEE Legal Matters on March 16, 2016) and City Expert, a tech-driven real estate sale and rental sector startup (as reported on July 4, 2016). “We will continue to support SCV with their investments in tech startups and are proud to be positioned firmly as the go-to lawyers for venture and growth capital clients” said Managing Partner Branislav Zivkovic.

The Zivkovic Samardzic team that advised SCV was led by Senior Associate Igor Zivkovski, and included Associate Sava Pavlovic.

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Karanović & Nikolić is a leading international legal practice in South East Europe that offers unrivalled regional and sector specific coverage to investors. As a market leading practice, our dedication, quality legal service, and in-depth understanding of the needs of our clients stands out as a differentiating factor. With over 100 advisors across the region, our original values remain an integral part of our philosophy and approach to client work. Karanović & Nikolić has been involved in many of the largest and most complex transactions in the region and we take pride in our reputation as a regional transactional and corporate/commercial legal powerhouse.

Because we have an active business presence in Bosnia & Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Slovenia, we operate seamlessly across all of these jurisdictions, providing regional services to our clients, while taking into consideration local particularities in order to provide the best legal advice under competitive terms. Renowned for the quality of our lawyers and our commercial approach to solving problems, Karanović & Nikolić advises many of the leading companies, banks, investors and government institutions doing business in the SEE region.

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