COBALT advised Practica Venture Capital on its investment in UAB Softneta

COBALT advised Venture capital fund “Practica Venture Capital” managed by Practica Capital, on the EUR 1 million investment in UAB Softneta – an award winning Lithuanian IT company providing software-based specialized health care solutions to improve the quality of patient care. The investment will be used for the expansion of UAB Softneta business. It is planned to improve software products and to strengthen the sales function.

UAB Softneta is nationally and internationally recognised IT company exporting its products to North and South America, Continental Europe, Middle East Countries Australia etc.

In 2012 DICOM Library product of UAB Softneta won the Innovation Award in the Category of Innovative Product. The same year UAB Softneta was nominated in the “Most Successful Young High Tech Company of Lithuania” elections at the contest “High Tech Start-Up 2012”.

COBALT‘s assistance included structuring of the deal, drafting, negotiating and organising the execution of the investment, shareholders, shares subscription agreement and other relevant documents, and providing legal advice on all the related matters. The project team at COBALT includes Elijus Burgis, Partner and Eva Suduiko, Senior Associate.