COBALT advised Practica Capital, a group of venture capital companies, on its first EUR 600,000 investments under the JEREMIE initiative, which is administered by the European Commission and the European Investment Fund.
The first investments were made by early-stage investment fund Practica Seed, which is advised by Practica Capital. Following the analysis of business prospects of the companies, Čeli APS, Benjamin River Productions and CGTrader were chosen for first investments. Čeli APS provides design and production processes automation software; Benjamin River Productions makes high-definition videos for fulldomes; CGTrader owns a platform for selling 3D digital models.
The work of COBALT lawyers included drafting of transaction documents, assistance during negotiations and advice on other transaction related matters. The team was led by COBALT Managing Associate Akvilė Bosaitė.