Cobalt has advised the BaltCap Growth Fund on investing almost EUR 3 million of growth capital in Viru Haigla AS to expand the Pihlakodu chain of elderly care homes. As a result of the transaction, BaltCap will acquire a minority shareholding in Viru Haigla AS.
BaltCap established BaltCap Growth Fund in cooperation with the Baltic Innovation Fund for investment purposes. The Baltic Innovation Fund was created by the Estonian, Latvian, and Lithuanian governments, and the European Investment Fund to boost equity investments into Baltic companies.
Pihlakodu is a chain of elderly care homes in Estonia. It operates close to 500 elderly nursing homes.
Cobalt’s team consisted of Partner Peeter Kutman, Senior Associate Karl Kull, and Assistant Lawyer Tiit-Gregor Mets.