Fort's Latvia office has advised Venture Capital Fund ZGI Capital on its EUR 200,000 investment into AS Biotehniskais Centrs.
Fort describes as Biotehniskais Centrs as "the leading manufacturer of bioreactors and other specialized equipment for biotechnologies in the Baltic." The funds raised from venture capital fund ZGI Capital will be used for the working capital and, Fort reports, "development of novel, innovative roducts."
ZGI Capital currently manages a fund of EUR 10.5 million formed in collaboration with state-owned development finance institution Altum, which institution uses financial instruments (loan facilities, guarantees, investment in venture capital funds, etc.) to provide state aid to certain target groups.
The Fort team was headed by Associated Partner Ramona Miglane and included Associated Partner Uldis Judinskis, Senior Associate Edgars Turlajs, and Associate Inga Grauzina.
