Venture capital fund Practica Venture Capital managed by Practica Capital, in the beginning of 2016 invested €1 million in Softneta – an award winning Lithuanian IT company providing software-based specialized health care solutions to improve the quality of patient care.
„This investment will allow us to focus more on our long-term goals and make major improvements to our software products, rather than worrying about day-to-day problems. We also plan to improve our sales operations by hiring new employees with high-level of expertise. It was a much needed push for us: we expect a long-term and succesfull collaboration with Practica Capital“ ,– said Vytautas Baublys, CEO and one of the shareholders of Softneta.
“PracticaCapital has already got experience working with health care related businesses. We are glad, that this opportunity came up and we can share our knowledge with such fast-growing company like Softneta. The company has a big advantage, that could shake up the market - a low cost home market, which allows them to offer high-quality products for a competitive price. The future is really promising: the company has everything to get noticed and find a long-term realiable strategic partner. We have prepared a detailed action plan and ready to work together“,- stated Petras Mičiūnas, Partner at Practica Capital.
Legal advisors of this agreement: Cobalt; Sorainen.
Softneta is an award winning Lithuanian IT company providing software-based specialized health care solutions to improve the quality of patient care. Since the establishment in 2007, Softneta has a great success not even national wise but also worldwide while exporting the products to North and South America, Continental Europe, Middle East Countries Australia etc. For more info visit: http://www.softneta.lt/
About Practica Capital:
Practica Capital is a venture capital firm established in 2011 by investment professionals and entrepreneurs who exited of their businesses. The firm manages Practica Seed Capital fund of 8 million EUR and Practica Venture Capital fund of 15,7 million EUR, both established under the JEREMIE initiative, managed by EIF and financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme of Lithuania. The funds provide early and later stage financing to Lithuanian SMEs, focusing on innovative businesses with high-growth potential. What is more, Practica Capital manages the business accelerator Startup.lt, which helps young businesses to realise high-growth potential. By the end of March 2016, Practica Capital signed 38 investments for 17.1 million EUR. For more information visit http://practica.lt and http://startup.lt.