COBALT advised BaltCap Private Equity Fund III on acquiring a minority stake at Eesti Digiraamatute Keskus OÜ

COBALT advised the private equity and venture capital investor BaltCap Private Equity Fund III on acquiring a minority stake in Eesti Digiraamute Keskus OÜ.

According to BaltCap their main goal with this investment is to enter the Baltic market as well as further develop the company’s technology platform and services, providing customers with modern solutions for e-books and audiobooks.

Oliver Kullman, Partner at BaltCap, says the investment to EDRK has a relevant role in the Estonian market as the forerunner of book digitalization. They see growth opportunities across the entire value chain, which we believe will benefit all market participants. He adds that he trusts BaltCap’s long-standing experience in developing businesses in the Baltics and its extensive international network provide new windows for growth to EDRK.

BaltCap is the largest private and venture capital fund operating in the Baltic States, whose portfolio includes, among others, Rahva Raamat, transport ticket system developer Ridango, ticket sales platform Piletilevi Grupp, and meat processing company Krekenavos.

Eesti Digiraamute Keskus OÜ (EDRK) is an independent company based on Estonian capital that cooperates with many publishers and booksellers. In addition to the online store, EDRK also offers sales and marketing platform services for publishers and authors.

The client was advised throughout the entire transaction, from conducting a legal audit to the closing of the transaction. Our team included Partner Peeter Kutman, Managing Associate Ott Aava, Specialist Counsel Liina Jents and Junior Associate Elis Toim.