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Cobalt Advises Practica Capital on Practica Venture Capital II Fund Closing

Cobalt Advises Practica Capital on Practica Venture Capital II Fund Closing

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Cobalt has advised Practica Capital on the final close of the Practica Venture Capital II fund, which included a EUR 2 million investment from Swedbank Asset Management. The total fundraising amount reached EUR 28.5 million.

According to Cobalt, ”the anchor investor of the Practica Venture Capital II fund is Invega. The rest of the funds were committed by Practica Capital together with a number of other local and international investors. The fund will focus on early-stage venture capital investments in the Baltics and Baltic-origin (e.g., Baltic diaspora, other Baltic connection) ventures in Europe. Since the establishment of Practica Venture Capital II in 2019, the fund has already made 14 investments in companies, among which we can find such already well-known companies as Ziticity, Oxipit, Eddy Travels, or PVcase.”

Cobalt’s team included Partners Eva Suduiko & Akvile Bosaite, Senior Associate Aurelija Balciune and Associate Andra Gavedaite.

Cobalt could not provide additional information on the matter.

Lithuanian Knowledge Partner

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

More information on Cobalt can be found at www.cobalt.legal

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