COBALT advised Practica Capital on its investment in UAB Intelligent Communications

COBALT advised Practica Capital, a group of venture capital companies, in connection with its investment in UAB Intelligent Communications.

“Practica Seed Capital” KŪB and “Practica Venture Capital” KŪB venture capital funds, which both form part of the Practica Capital group, invested in the start-up company UAB Intelligent Communications, which has developed TRAFI, an on-line trip planning system combining all modes of public transport, trips by taxi, bicycle and on foot. By analysing the real-time situation in the city TRAFI selects the most convenient route. In Lithuania the company operates the largest portal of this kind www.marsrutai.lt and plans in the near time to expand its activities to other world’s largest cities. The funds’ investment will be used to finance the company’s development and improve its current products.

“Practica Seed Capital” KŪB and “Practica Venture Capital” KŪB venture capital funds are intended to provide start-up and development financing for businesses in Lithuania or for local companies thinking of expanding abroad.

The work of COBALT lawyers included drafting of transaction documents, assistance during negotiations and advice on other aspects of the deal. The team was led by Senior Associate Eva Suduiko.