COBALT advised Noviti finance on attracting EUR 700 000 investment

COBALT advised an alternative business financier, Noviti finance, on attracting an investment of EUR 700 000 from the Belgian private equity fund Helenos. The attracted investment will help Noviti finance not only to strengthen its position in the local market, but also to accelerate its expansion into foreign markets.

Founded three years ago, the Helenos Fund is the first European private equity fund focussed on integrated financing and social entrepreneurship. This means that Helenos has a mission to strengthen the capital base of financial support for micro, small and medium-sized enterprises.

The fund is backed by the support of the European Investment Fund (EIF) and several major Western European banks and seeks to ensure long-term economic growth and social inclusion through the promotion of entrepreneurship. The Helenos Fund is managed by Inpulse, an impact investment manager based in Belgium.

“We are happy with our new partner. We hope that a partnership based on common goals will help us to open up even more opportunities for small and medium-sized enterprises to access finance. We are also planning to expand into foreign markets. We have been operating in Latvia for more than a year, and now, having gained international experience and strong investor support, we are ready to move forward,” says Linas Armalys, CEO of Noviti Finance.

COBALT advised on the structuring of the transaction, drafted transaction documentation, represented Noviti finance in negotiations, conducted legal due diligence and advised on other transaction-related matters. COBALT team consisted of Partner and Co-Head in the Banking and Finance Practice Group Akvilė Bosaitė and Senior Associate Dr Lina Aleknaitė-van der Molen.