Cobalt has advised venture capital fund Karma Ventures on its follow-on investment in Vilnius-based CGTrader, which was advised by Sorainen. Evli Growth Partners, Karma Ventures, and LVV Group participated in the round, in which CGTrader raised USD 9.5 million.
On the 5th of October, the new regulation of the European Parliament and of the Council on European crowdfunding service providers for business was approved. Although crowdfunding activities are already regulated in Lithuania by national laws, this new regulation represents a real opportunity for Lithuania and Lithuanian crowdfunding service providers.
In 2015, the word Cobalt took on a new meaning in the legal markets of Belarus, Estonia, Latvia, and Lithuania, when a new pan-Baltic law firm with that name opened its doors, immediately entrenched in the top tier of the region’s legal markets. That firm owes much of its success and reputation to the Managing Partner of its Lithuanian office and Chairman of the firm-wide Management Board, Irmantas Norkus.
It is customary in Lithuania’s political system for the government to alternate between parties on the opposite sides of the political spectrum with every two election cycles, says Andrius Iskauskas, Partner at Wint. And so, he notes, “right wing and liberal parties came to power and replaced the leftist parties after the elections in late October 2020.” Nonetheless, he points out, in parliament, curiously enough, a relatively new very liberal party formed a coalition with a more traditional right wing party.