Sorainen has advised venture capital fund Open Circle Capital on its investment, made along with technology company iTo, of EUR 300,000 in business process management tool Tasker.
Tasker is used by companies whose employees spend a significant amount of time outside the office. The tool helps to digitalize and optimize business processes.
The Open Circle Capital fund, which manages assets of over EUR 20 million, invests in Lithuanian companies developing digital technology products. The fund aims to help start-ups that implement scientific projects, carry out research and create technology requiring specific knowledge. The fund has already invested in four Lithuanian capital companies.
Audrius Milukas, Partner and CEO at Open Circle Capital commented: “This start-up has already proven what it is worth in Lithuania: in some industries Tasker has over 90% of the market; the tool is used by major Lithuanian companies. An experienced team and the high quality product that it created enables the company to achieve these results. Further company strategy encourages us to expect that the product will be even more successful in foreign markets, which are much bigger. Tasker neatly represents the type of investment we are looking for.”
The Sorainen team included Partner Mantas Petkevicius, Associate Vytautas Sabalys, and Legal Assistant Auguste Bucyte.
