Sorainen Vilnius has advised venture capital fund Open Circle Capital on its EUR 400,000 investment, made with the Blue Bridge Group's managing company, into Blue Bridge Group member and CRM solutions developer Teamgate. Primus advised Blue Bridge group in the deal.
According to Sorainen, Teamgate intends to use the investment for expansion into foreign markets. The company is also considering integrating elements of artificial intelligence and machine learning in their products.
“After getting to know this company, it was easy to make a decision about our partnership," said Rokas Tamosiunas, Partner at Open Circle Capital. "The team is ready for effective expansion in foreign markets. Transferring business management processes to digital space is unavoidable in the modern business world in most business segments. Investing in Teamgate, a company with a clear long term vision and expansion strategy, is a logical and far-sighted decision.”
Open Circle Capital invests in Lithuanian companies developing digital technology products. Open Circle Capital also helps to identify innovative technology ideas with commercial potential and advises on financing issues related to their implementation.
The Sorainen team consisted of Partner Mantas Petkevicius and Associate Vytautas Sabalys.
The Primus team consisted of Partner Ernesta Ziogiene and Associate Karolis Diska.