SAA advises Gapminder in €1,2M investment with SmartDreamers
Stratulat Albulescu Attorneys at Law acted as advisors to GapMinder, in relation to the accelerator investment with SmartDreamers, a company specialized in Recruitment Marketing Automation software solution. Launched in 2014, the start-up has succeeded in developing a series of social media recruitment and online community solutions that have been successful among Romanian companies.
GapMinder is the first venture fund created as a result of the selection process started by the European Investment Fund. It is mostly financed by the Competitiveness Operational Programme 2014-2020, while the European Regional Development Fund provides a share of the capital, as part of the European Cohesion Policy. The Competitiveness Operational Programme (COP) 2014-2020 supports investments aiming to address the challenges stemming from the low support for research, development and innovation and the under-developed information and communication technologies services and infrastructure. By investing in these areas, the COP aims to contribute to bolster the competitiveness of the Romanian economy.
The total investment amounts to €1,2M with 3TS Catalyst Romania (a Romanian private equity fund, financed mainly by JEREMIE, as part of the Sectorial Operational Programme “Development of Economic Competitiveness” 2007-2013, co-financed by the European Regional Development Fund) acting as co-investor. The investment will be used to expand SmartDreamers operations globally.
Stratulat Albulescu’s assistance included performing the due diligence of the company, drafting the investment documentation (shareholders’ agreement, share purchase agreements, updated company corporate documents and all documentation customary in matters of this type) as well as assisting with the negotiation of terms of the investment with the company and the co-investor.
The dedicated team at Stratulat Albulescu was led by Managing Partner Silviu Stratulat in close cooperation with Managing Associate Cristina Man.