Capital Legal Services has advised the Rusnano Sistema SICAR fund on its USD 1.5 million investment project into Geosplit, a Russian oil service developer and integrator of technology for the oil industry. Geosplit was advised by the Skolkovo Deal Support Center.
The funds from the transaction will be used for the development of technology, the expansion of the Geosplit product portfolio, and the launch of an export program.
The Rusnano Sistema SICAR fund was created jointly by PJSFC Sistema and JSC Rusnano in 2016. The fund invests in hi-tech projects at the start-up phase, as well as in growing and established companies.
According to Capital Legal Services, "Geosplit specializes in development of technologies for marker monitoring of horizontal well inflow profiles. The technology know-how uses markers-reporters from quantum dots. The fundamental difference of the new technology from conventional test wells is in the possibility to monitor well intervals over a long period without downhole operations, reducing expenditures and increasing production safety."
The Capital Legal Services team was led by Principal Associate Dmitry Raev and included Principal Associate Ekaterina Rudova, and Associate Anastasia Dukhina.
The Skolkovo Deal Support Center's team consisted of Managing Partner Anton Pushkov, Head of Legal Practice Alexey Fedotov, and Lawyer Natalia Evdokushina.