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Sorainen Advises Open Circle Capital on Investment in Tasker

Sorainen Advises Open Circle Capital on Investment in Tasker


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

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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