Sorainen provided full legal support in structuring and incorporating Iron Wolf Capital Fund, which is a fund in the form of a limited partnership. The expected size of the fund is around EUR 25-30 million.
The fund will focus on investments in high-growth potential early-stage SMEs engaged in, or planning to be engaged in, R&D and innovation activities and acting in Smart Specialization priority sectors.
Sorainen assisted the fund’s management team (GP) throughout the whole process of launching operations in Lithuania – from the first application in a fund managers’ selection competition, organised by INVEGA in co-operation with the EBRD, to structuring and closing the fund. Advice included drafting all key fund establishment documents and agreements, negotiations for a limited partnership agreement with INVEGA and the EBRD (acting as key investor), tax and other related issues.
The Sorainen team was led by partner Mantas Petkevičius and included partner Saulė Dagilytė plus associates Eglė Mazėtytė and Ieva Krivickaitė.