The legal professionals of COBALT Finance and Securities Practice Sub-Group assisted with the establishment of two Practica Capital funds under the European Investment Fund (EIF) initiative.
The European Investment Fund and Practica Capital have established a EUR 6 million Seed Fund. The purpose of the fund is to develop new businesses by financing prospective ideas and help them to develop in their early stages. In parallel, a EUR 15.7 million Venture Capital Fund has been established, which will provide follow-on investments for ideas developed under the Seed Fund and will also invest into existing high-growth companies.
Both funds will be managed by the newly formed team of Practica Capital managers, consisting of well reputed successful entrepreneurs and financial professionals brought together through this initiative.
Partner Elijus Burgis, Senior Associate Akvilė Bosaitė, and Associate Karina Kuizinaitė drafted and coordinated the preparation of the documents of incorporation of the funds and advised on other related aspects.