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Zivkovic Samardzic Advises South Central Ventures on Dry Tools Transaction

Zivkovic Samardzic Advises South Central Ventures on Dry Tools Transaction

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Zivkovic Samardzic has advised South Central Ventures (SCV) on a complicated transaction involving its portfolio company Dry Tools and acquiring company Alchemy Cloud Inc.

Dry Tools – according to Zivkovic Samardzic – "operates in the software developing tooling sector," while Alchemy Cloud is the "company behind Alchemy, a cloud-based SaaS platform for the specialty chemical industry that facilitates the commercialization of new formulations, [and] is based in San Francisco and has offices in both San Francisco and Novi Sad, Serbia."

Zivkovic Samardzic describes SCV, which manages the Enterprise Innovation Fund (ENIF), as "a venture capital fund focusing on highly specialized, innovative small and medium-sized enterprises in the Western Balkans." The firm reports that "investors into ENIF are the European Commission, the European Investment Fund, the European Bank for Reconstruction and Development, Kreditanstalt fur Wiederaufbau together with institutional and private investors from the Western Balkans. The EUR 40 million fund is dedicated primarily to early stage and growth investments, intended to fuel international business expansion and growth."

Zivkovic Samardzic supported SCV with earlier investments in Serbia, including the investment in Dry Tools (as reported by CEE Legal Matters on March 16, 2016) and City Expert, a tech-driven real estate sale and rental sector startup (as reported on July 4, 2016). “We will continue to support SCV with their investments in tech startups and are proud to be positioned firmly as the go-to lawyers for venture and growth capital clients” said Managing Partner Branislav Zivkovic.

The Zivkovic Samardzic team that advised SCV was led by Senior Associate Igor Zivkovski, and included Associate Sava Pavlovic.

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