The most successful Latvian investors of 2016 – “ZGI Capital” and Anatolijs Prohorovs – awarded

Submitted by latban.aivis.pavlovs on Sat, 01/28/2017 - 19:29

Today, 26 January, the most successful Latvian investors of 2016 were awarded for contribution in the promotion of their industries in Latvia during the ceremony “Investor of the Year ‘16”. The “Investment of the Year” award in the sector of legal entities was presented to the fund management company “ZGI Capital” for investment in the mobile payment services company “Mobilly”. The contribution of Anatolijs Prohorovs in the music and sound technology company “Sonarworks” was honoured as the investment of the year in the sector of private investors. Mr Prohorovs also received “Supporter of Industry of the Year” award in the sector of legal entities.

 

The “Investor of the Year” award was organised for the second year by the Latvian Private Equity and Venture Capital Association (LVCA) and the Latvian Business Angel Network (LatBAN). This year, awards for investments made by private individuals and legal entities were presented in eight nominations.

 

The Minister for Economics Arvils Ašeradens addressed the winners of “Investor of the Year ‘16” and investment professionals and emphasised: Today we are honouring projects with the highest possible added value. Modern and innovative economics cannot exist without the smart or venture capital. Healthy development of the eco-system of innovations, in turn, cannot exist without investments of business angels. Funding of venture capital or smart investments provides the entrepreneurs an opportunity to receive not only additional investments, but also support from experienced experts for the implementation of their ideas. Meanwhile, business angels are like messengers of approaching spring. Intuition, knowledge and courage of business angels raise the potential of the national exports, which is the safest development for the national economy.

 

The “Investor of the Year ‘16” awards presented to legal entities:

 

  • “Investment of the Year” award was presented to the fund management company “ZGI Capital” for the investment in the mobile payment services company “Mobilly”.

  • “Supporter of Industry of the Year” award for the positive impact on the industry was received by Anatolijs Prohorovs, Associate Professor of “RISEBA” University of Business, Arts and Technology and Chairman of the Board of “Proks Capital”.

  • “Financial Adviser of the Year” award was presented to the audit company “Ernst & Young Baltic” for consultations provided to the investment fund “Marguerite” on acquisition of 28.97% of shares of AS “Latvijas Gāze”.

  • “Legal Adviser of the Year” award was presented to the Law Office “COBALT” for consultations provided to the investment fund “Marguerite” on acquisition of 28.97% of shares of the AS “Latvijas Gāze”, for the consultations provided to the Austrian venture capital company “AMIC Energy Management GmbH” on acquisition of 100% of shares of the fuel filling station operator “LUKoil Baltija R” and to the Estonian venture capital company “Koha Capital” Oü regarding investments in the Latvian start-up company “Giraffe360”.

 

“The year 2016 was a productive year in the sector of private and risk capital. The members of the LVCA have made over 50 investments, providing financial support in the amount of more than 15 million euros to companies operating in different industries. I would like to stress that the contribution of other professional participants of the market, lawyers and financial specialists, is also of importance. This is a joint action resulting in the growth and development of the Latvian investment environment. All the winners of the “Investor of the Year ‘16” award in the sector of legal entities are visionaries of our industry whose working results and contribution we can assess with the mark of the top quality,” said Edgars Pīgoznis, Chairman of the Board of the LVCA.

 

The “Investor of the Year ‘16” awards presented to private investors:

 

  • The “Investor of the Year” award was presented to Anatolijs Prohorovs for the investment in the music and sound technology company “Sonarworks”.

  • The “Most Profitable Investment of the Year” award for the investment with the largest return was presented to Jevgēnijs Roščins for investment in the project “Tooth Fairy’s Tools” that develops innovative solutions in the dentistry field.

  • The “Most Environment-friendly Investment of the Year” award was presented to Ģirts Cēlājs for the investment in the project of manufacturing electric go-karts and development of go-kart tracks “Blue Shock Race”.

  • The “Supporter of Industry of the Year” award was presented to Riga Technical University for the support provided in education of management of start-ups, manufacturing of prototypes and promotion of commercialisation of inventions.

 

Juris Birznieks, Member of the Board of LatBAN said: “It is crucial to be aware of the fact that receiving investments is just the first step on the way to the project development and opportunity to turn business into success story. We continue the tradition to honour the Latvian private investors, business angels, who have taken the risk and invested their funds, as they have appreciated the potential of business development. This is the way how to improve the quality of the investment sector and develop business projects that are globally competitive.”

 

Information on all nominees for the “Investor of the Year ‘16” award in the sector of private investors and legal entities is available here: http://www.gadainvestors.lv.

 

About the “Investor of the Year” award

 

Tradition of the “Investor of the Year” award was introduced in 2015 as a result of the cooperation of the Latvian Private Equity and Venture Capital Association (LVCA) and the Latvian Business Angel Network (LatBAN). The goal of the initiative implemented by LVCA and LatBAN is promotion of the investment sector development in Latvia by expanding the network of investors. Through identification and popularisation of the most successful investments of the year, the organisers would like to draw attention to the significance of the comparatively new sector in Latvia in supporting the viable projects.

 

Additional information:

Aiga Kalbjonoka

Executive Director of the Latvian Business Angel Network

Phone: 26959806

E-mail: aiga.kalbjonoka@latban.lv

http://www.latban.lv

 

Laila Zilgalve

Project Manager of the Latvian Private Equity and Venture Capital Association (LVCA)

Phone: 26544649

E-mail: laila@lvca.lv

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