On 11 February 2021 at the Investor of the Year in Latvia ceremony COBALT received the Legal Adviser of the Year award. The annual award ceremony organized by Latvian Private Equity and Venture Capital Association and Latvian Business Angel Network honored the most significant private equity and venture capital investment projects in the country in 2020. COBALT received the award for the seventh time.
The award for the COBALT was secured by the firm’s pro bono assistance in the development of novel regulation of share options in Latvia and related amendments in the Commercial law and the Personal Income Tax Law, enabling to issue share options not only to employees of joint stock companies, but also to limited liability companies. The new regulation also allows creation of different categories of shares in limited liability companies, which will provide wider structuring options of investment deals; advice to BaltCap portfolio company Coffee Address Holding in the acquisition of SIA Kafe Serviss; and advice to capital300 and Chalfen Ventures on a EUR 5 million series A investment into Riga-based startup Lokalise.