BaltCap, the leading private equity and venture capital investor in the Baltic States, has provided financing for start-up of the corporate media production company Oobelisk, gaining a majority stake in the company. The aim of Oobelisk is to become the leading player in Eastern and Northern Europe in this sector. This investment has been completed within the EU Structural Fund’s co-financed JEREMIE initiative managed by the European Investment Fund in Latvia.
Oobelisk management team are long-term professionals in the media and TV production business. Capitalizing on previous experience in the sector, the company is planning to offer unique range of corporate media products, ranging from audio visual annual reports and yearbooks to interactive presentations. The potential clients of Oobelisk are Baltic, Northern and Eastern European leading companies, for which the corporate image, as well as communication with shareholders, employees and society is of upmost importance.
“We are delighted for the opportunity to finance development of the innovative products developed by Oobelisk’s professional management team. We believe there is large market demand for such products by corporate clients and the company has good chances to become a leading player in the corporate media production business in the Baltic States and the neighbouring markets,” said Astra Neimane, Investment Director at BaltCap.
“On behalf of Oobelisk we are very honoured to see BaltCap, the leading private equity and venture capital investor in the Baltic states, as our partner. The key idea behind Oobelisk is changing the old business model of media production companies and working with clients in cooperation forms new to the market. Along with development of the media space and technologies, we would be offering our clients new products which suit their communication needs the bestWeluros tiek sniegts atblasts utsourcinga l”, said Kristaps Pētersons, Chairman of the Board and Business Development Director of Oobelisk, describing the uniqueness of Oobelisk.
Graham Cope, Head of Region, European Investment Fund, stated “We are very pleased to see Baltcap’s continued investments in high growth potential companies based in Latvia with a wider regional reach. This investment in Oobelisk illustrates again that government support of the JEREMIE Holding Fund activities is delivering the right impact to vibrant companies with strong prospects for the future.”
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