COBALT advised Change Ventures on creating their €20M Fund III

COBALT advised Change Ventures on creating and launching their €20M Fund III to double down on pre-seed investing in the “next startup nations”.

Change Ventures is one of the largest venture capital funds in the Baltics that specializes in early-stage investments. Change Ventures says they started investing in the Baltic states in 2017, establishing the first truly pan-Baltic seed/pre-seed fund. Since then, they have backed over 33 startups, which keeps demonstrating an ability to generate outsize startup success stories relative to population and size of the regional economy. Their third fund continues to focus on founders from the Baltic states or Baltic diaspora.

COBALT advised Change Ventures on preparation of fund documentation as well as licensing and other regulatory aspects. Our team included Partners Kristel Raidla-Talur and Monika Koolmeister, Specialist Counsel Greete-Kristiine Kuru, Senior Associate Kaarel Eller and Associate Johanna Lumiste.