Sorainen advised venture capital fund Open Circle Capital on investing in business process management tool Tasker. Together with technology company iTo, Open Circle Capital invested a total of EUR 300,000.
Tasker is used by companies whose employees spend a significant amount of their time outside the office. The tool helps to digitalize and optimize business processes and can be used in every industry. Tasker enables companies to effectively delegate and ensure successful task implementation plus control the working process from beginning to end.
Comments Audrius Milukas, partner and CEO at Open Circle Capital: “This start-up has already proven what it is worth in Lithuania: in some industries Tasker has over 90% of the market; the tool is used by major Lithuanian companies. An experienced team and the high quality product that it created enables the company to achieve these results. Further company strategy encourages us to expect that the product will be even more successful in foreign markets, which are much bigger. Tasker neatly represents the type of investment we are looking for.”
Open Circle Capital fund, managing assets of over EUR 20 million, invests in Lithuanian companies developing digital technology products. The fund aims to help start-ups that implement scientific projects, carry out research and create technology requiring specific knowledge. The fund has already invested in four Lithuanian capital companies.
Sorainen assisted the client on all legal matters related to the investment.
The Sorainen team consisted of partner Mantas Petkevičius, associate Vytautas Sabalys and legal assistant Augustė Bučytė.