Sorainen has advised venture capital fund Open Circle Capital on its investment of EUR 170,000 in ad exchange startup SixAds. Glimstedt advised SixAds on the deal.
According to Sorainen, "Circle Capital is interested in technology companies in the fields of ICT, robotics, and high-tech. SixAds demonstrates a fast growing number of customers and revenue, along with global ambitions, all of which are in line with Open Circle Capital’s investment approach."
"Currently," Sorainen reports, "about 7,000 online stores are using SixAds, most of them from the USA, but in the near future the plan is to expand to other markets such as Canada and the UK. The EUR 170,000 investment will be devoted to this expansion."
The Sorainen team was led by Partner Mantas Petkevicius with Associate Vytautas Sabalys.
The Glimstedt team included Partner Andrius Ivanauskas, Senior Lawyer Michail Molis, Senior Tax Lawyer Edvard Gasperskij, Expert Giedre Rimkunaite-Manke, and Junior Lawyers Rimante Butkute and Simona Butkute.