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COBALT advised Practica Capital on its investments in Cheap Data Communications

2014-01-02

COBALT provided legal advice to Practica Capital, a group of venture capital companies, on its more than EUR 0.15 million worth investments in Lithuanian start-up "Cheap Data Communications", which will offer cheaper data roaming services.

The investments were made by early stage venture capital fund “Practica Seed Capital” KŪB, managed by Practica Capital group. The purpose of the investments is to enable consumers to pay for data roaming services a price similar to local network charges. At the same time, mobile operators will be able to increase the flow of foreign customers.

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.