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.

Sorainen has helped Lithuanian 3D model trading platform CGTrader attract USD 9.5 million in a Series B funding round from Mikael Hed, Evli Growth Partners, LVV Group, and Karma Ventures. Walless advised Mikael Hed and Evli Growth Partners and Cobalt advised Karma Ventures on the deal.

Dentons has advised Kommunalkredit Austria AG on its provision of a EUR 23 senior term loan to Green Genius in Lithuania. Binder Groesswang and Glimstedt reportedly advised Kommunalkredit in Austria and Lithuania, respectively.

Cobalt has advised the shareholders of AGACAD, a Vilnius-based developer of building information modeling software, on the sale of 100% of their shares to France’s Arkance. Ellex Valiunas advised the buyer on the deal.

Sorainen has advised Fenner Dunlop, a part of the Michelin Group, on its acquisition of Technobalt Estonia.

SPC Legal has provided assistance to UAB Caverion Lietuva related to its construction of a production facility for the Thermo Fisher Scientific Baltics expansion.

Motieka & Audzevicius has persuaded the Supreme Court of Lithuania to reverse the ruling by the Court of Appeals to dismiss the claims by bankrupt Lithuanian national airline company FlyLAL against airBaltic and the Riga International Airport and order the case returned for reconsideration.

Cobalt has helped Swedbank on its internal restructuring in the Baltics, as a result of which the bank’s existing subsidiaries in Estonia, Latvia, and Lithuania will continue under the ownership of the bank’s new subsidiary, Swedbank AB.

Sorainen, working with London-based Gowling WLG, has advised Reorg, a provider of financial and legal intelligence, on its acquisition of Aggredium Finance, a specialist in European sub-investment grade credit bond and loan data.

Sorainen has advised Lithuanian-based UAB Scandagra on the acquisition of a majority stake in Silutes Girnos, a company operating grain storage facilities and related real estate. Cobalt advised the stock sellers on the deal.

Cobalt has successfully represented the interests of Vintage Holdings Limited in proceedings against the Isle of Man-based company initiated in Lithuanian courts by BAB Ukio Bankas and BUAB Ukio Bankas Investicine Grupe.

Cobalt has advised venture capital fund Practica Capital on its investment in Lithuanian biotech startup Droplet Genomics. Triniti reportedly advised Droplet Genomics on the investment round, which included other business angel investors and amounted to EUR 1 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.

Adon Legal has helped Paymont obtain an Electronic Money Institution license from the Bank of Lithuania.

Sorainen has advised Open Circle Capital on its investment in Monimoto, a company developing a smart trackers for motorcycles. SPC Legal advised Monimoto on the deal.

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.

Cobalt has advised BaltCap Private Equity Fund III and its co-investor Sven Nuutmann on the acquisition of 100% of the shares in Baltic Ticket Holdings OU. Ellex reportedly advised the sellers on the transaction, which remains subject to competition clearance.