Sorainen advised venture capital fund Open Circle Capital on investing in CRM solutions developer Teamgate, a part of the Blue Bridge Group. Open Circle Capital invested together with Blue Bridge’s managing company, Blue Bridge Baltic. Total investment amounts to EUR 400,000.
Teamgate intends to use the investment for expansion to foreign markets. The company is also considering integrating elements of artificial intelligence and machine learning in their products.
Comments Rokas Tamošiūnas, a partner at Open Circle Capital: “After getting to know this company, it was easy to make a decision about our partnership. The team is ready for effective expansion in foreign markets. Transferring business management processes to digital space is unavoidable in the modern business world in most business segments. Investing in Teamgate, a company with a clear long term vision and expansion strategy, is a logical and far-sighted decision.”
Open Circle Capital, managing assets of over EUR 20 million, invests in Lithuanian companies developing digital technology products. Open Circle Capital also helps to identify innovative technology ideas with commercial potential and advises on financing issues related to their implementation.
Sorainen assisted the client on all legal matters related to the investment.
The Sorainen team consisted of partner Mantas Petkevičius and associate Vytautas Sabalys.