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Deal 5: Practica Capital Co-Founding Partner Donatas Keras on Investment in Biomatter Designs

Deal 5: Practica Capital Co-Founding Partner Donatas Keras on Investment in Biomatter Designs

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On January 18, 2021, CEE Legal Matters reported that Cobalt had advised Practica Capital on its investment in Lithuanian start-up Biomatter Designs – part of the latter's EUR 500,000 investment round. CEEIHM spoke with Donatas Keras, Co-Founding Partner at Practica Capital to learn more about the matter.

CEEIHM: Could you tell our readers a bit about Practica Capital? What areas and what countries does your fund primarily invest in?

Donatas: Founded in 2011, Practica Capital is a dedicated Baltic VC focusing on investments in the Baltic (Lithuania, Latvia, Estonia) and Baltic-origin ventures in Europe. Selectively, we also invest in neighboring Europe. The fund invests from EUR 200,000 to EUR 2 million+ in seed, early-stage ventures. We are a cross-industrial investor focused on backing great teams behind the tech-driven businesses from the region and partnering with them as company builders. We are hands-on VC, usually acting quite fast and taking the leading position in early-stage deals. We also believe in long-term partnerships with founders and look one more step ahead before making any investment.

CEEIHM: Cobalt recently advised Practica Capital on its investment in Lithuanian start-up Biomatter Designs. What made the start-up particularly appealing to your company?

Donatas: We particularly liked the team and their bold ambition. The start-up tackles a super-hard problem, and solving it would bring significant change in the protein creation industry. It can affect many other industries and applications also. Being in the crossing zone between AI and biotech, Biomatter Designs can utilize the best of both fields and use the latest developments to their advantage – it gives unprecedented possibilities for the company. 

CEEIHM: What are Practica Capital’s plans for Biomatter Designs going forward?

Donatas: Biomatter Designs is an early-stage company that is why all necessary steps are needed: starting with a clear IP strategy, team build-up, and working on initial commercial pilots and traction. Most important is to increase R&D ability and work on the technology itself. The company has established solid and detailed short-term plans and a great vision for the long term - we will try to help achieve these goals for them. 

CEEIHM: What are some of the intricacies of this transaction that Cobalt assisted you with?

Donatas: We have some particular issues regarding IP and data protection also employment-related matters Cobalt mastered very well and efficiently. 

CEEIHM: What influenced you to opt for Cobalt as your advisor on this transaction? Will your relationship with the firm extend onto future projects?

Donatas: Yes, we are completely satisfied working with Cobalt. We trust their experience on VC-type deals. And with every new IP heavy deal, they build their expertise further in this field, which we are keen to use. 

Originally reported by CEE In-House Matters.

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