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Sorainen Advises Contrarian Ventures on Successful Tender to Manage Lietuvos Energija Venture Capital Fund

Sorainen Advises Contrarian Ventures on Successful Tender to Manage Lietuvos Energija Venture Capital Fund

Lithuania
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Sorainen has assisted Contrarian Ventures on its successful tender to become manager of a venture capital fund established by Lietuvos Energija.

Lietuvos Energija, the state-owned Lithuanian energy company, has invested EUR 5 million in the fund, with the same amount expected to be attracted from other investors. The fund investment period will be five years, with companies receiving financial injections worth up to EUR 300,000. The total lifetime period of the fund will be 10 years.

Contrarian Ventures will be managed by an international team of seven partners investing in Lithuania, the Netherlands, and Israel.

The Sorainen team advising and representing Contrarian Ventures during the tender procedure and in negotiations with Lietuvos Energija consisted of Senior Associate Karina Andriukaitiene and Associates Artūras Asakavicius and Laura Ryzgelyte.

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COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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