On 18 January 2018, the Latvian Private Equity and Venture Capital Association (LVCA) and the private investor association Latvian Business Angel Network (LatBAN) held a joint “Investor of the Year” event, when Sorainen was awarded the title of legal adviser of the year for assisting Providence Equity Partners in its acquisition of the Baltic companies of the Modern Times Group.

The purpose of the event and the “Investor of the Year” award is to promote development of investment in Latvia by expanding the investor network. By acknowledging and popularising the most successful investments of the year, the organisers aim to draw attention to the significant role played by investors in developing business projects.

Any investor and financial or legal adviser in Latvia can apply for the award, and candidates can be nominated by any interested person.

Comments LatBAN board member Juris Birznieks: “We have maintained a tradition of the ‘Investor of the Year’ for three years to assess the growth of the Latvian investment environment and to mark those whose investments have given the option to develop new projects with high added value and significant breakthrough potential. The most essential element that LatBAN wants to give its members is increased investment yield by raising investor competence and decreasing risks”.

LVCA chair Edgars Pîgoznis welcomes appreciation of contributions by legal entity-investors and transaction advisers to development of the Latvian economy: “It is a real joy to acknowledge that the ‘Investor of the Year’ has already become a yearly event to look forward to. The upcoming centenary of Latvian independence is a spur to express our gratitude to people whose contribution and forward-looking attitude facilitates development of our country. Thanks to investors and professionals accompanying transactions, we have new success stories in Latvia, with a strong new business generation growing, and Latvia’s competitiveness and well-being is increasing.”