NBLO regularly advises Bulgarian startups looking to tap into the deeper pools of capital available in more established seed and venture capital markets.
The UK, US and Germany are most frequently the sources of funding which Bulgarian-related investees successfully access. Given our connections to the UK (two of our team are admitted to practice in England), we most often assist Balkan founders or Bulgarian startups who have arranged to raise from UK-specific sources. However, we are able to assist - through our network of specialist contacts in Germany and the US - Berlin- and Valley-bound investees and startup teams, too. (While the debate on which European capital will ultimately prove most successful in attracting venture investments continues, we note that all of the above as well as Israel, Russia, France and others are likely to play a role as sources of interest in Bulgarian or Balkan startups).
So far in 2017, we have advised on 4 such projects.
The UK offers attractive tax incentives to investors in early stage projects through its SEIS and EIS schemes, and depending on the size of the round, advising on these, and obtaining advance assurance for a project is a typical early part of our involvement.
For companies bootstrapping in the Balkans and looking for a first post-F&F round outside Bulgaria, moving the investment structure’s centre overseas involves either a share restructuring (e.g., through a share exchange) or where not inadvisable for other reasons, an asset transfer.
Our involvements often grow with our clients’ size and complexity, and after seed rounds, we often consult on commercial terms (whether these are available to the entire world or to select clients), a variety of IP issues and other matters. We are in a position to then consult companies on exits in trade sales, further rounds of raises or IPOs.
© New Balkans Law Office 2020