Sorainen has assisted Contrarian Ventures on its successful tender to become manager of a venture capital fund established by Lietuvos Energija.
Lietuvos Energija, the state-owned Lithuanian energy company, has invested EUR 5 million in the fund, with the same amount expected to be attracted from other investors. The fund investment period will be five years, with companies receiving financial injections worth up to EUR 300,000. The total lifetime period of the fund will be 10 years.
Contrarian Ventures will be managed by an international team of seven partners investing in Lithuania, the Netherlands, and Israel.
The Sorainen team advising and representing Contrarian Ventures during the tender procedure and in negotiations with Lietuvos Energija consisted of Senior Associate Karina Andriukaitiene and Associates Artūras Asakavicius and Laura Ryzgelyte.