SAA advises GapMinder in €1,2M investment with SmartDreamers
SAA acted as advisors to GapMinder, regarding the accelerator investment with SmartDreamers, a company specialising in recruitment and marketing automated software solutions. 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 capital fund created as a result of the selection process started by the European Investment Fund. It is financed, mostly, by the Competitiveness Operational Programme 2014-2020 (“COP”), while the European Regional Development Fund also provides a share of the capital, as part of the European Cohesion Policy.
The COP supports investments that aim to address the challenges stemming from minimal support for research, development and innovation and the under-developed information and communication technology services and infrastructure. By investing in these areas, the COP aims to contribute funds to bolster the competitiveness of the Romanian economy.
The total investment amounted to EUR 1,200,000, with 3TS Catalyst Romania (a private Romanian equity fund, financed mainly by JEREMIE, as part of the Sectorial Operational Programme “Development of Economical Competitiveness” 2007-2013 and co-financed by the European Regional Development Fund) acting as a co-investor. The investment will be used to expand SmartDreamers operations globally.
SAA’s assistance included carrying out due diligence of the company, drafting the investment documentation (shareholders’ agreement, share purchase agreements, updated company corporate documents and all other relevant and necessary documentation), as well as assisting with the negotiation of the terms of the investment with the company and the co-investor.
The dedicated team at SAA was led by Managing Partner Silviu Stratulat, working closely with Managing Associate Cristina Man.