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Motieka & Audzevicius Helps 70 Ventures Structure Two Investment Funds

Motieka & Audzevicius Helps 70 Ventures Structure Two Investment Funds

Lithuania
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Motieka & Audzevicius has assisted 70 Ventures, UAV, with the preparation of its investment funds using the Accelerator Fund of Lithuania's Ministry of Economy and Innovation.

According to the firm, "at the final stage M&A was responsible for obtaining a management company permit for 70 Ventures, UAB and [obtaining] approval of the incorporation documents of the 70 Ventures Accel and 70 Ventures Seed investment funds under Lithuania's Law on Collective Investment Undertakings Intended for Informed Investors." According to the firm, "our assignment covered the drafting of the licensing documents as well as coordination of the overall regulatory process with the Bank of Lithuania. The 70 Ventures investment funds are among the first to be approved by a regulator."

Also according to Motieka & Audzevicius, the Accelerator Fund is implemented via the Business Financing Fund — a fund of funds financed from the European Regional Development Fund, which is itself financed from EU funds under the Operational Programme for the EU Funds’ Investments in 2014–2020.

The firm claims that "it is expected that 70 Ventures pre-seed and seed funds will foster early-stage business and improve the Lithuanian ecosystem of the start-ups." 

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COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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