Draugiem Group invests EUR 1.14 million in cosmetics company Prime Prometics

Draugiem Capital, the newly established company of Draugiem Group, has concluded its first investment transaction, investing EUR 1.14 million in cosmetics company Prime Prometics and thus becoming a minority shareholder of the company.

Draugiem Capital was founded with the aim of investing in other companies. Draugiem Group comprises more than 10 various companies, the largest of them being Latvia’s first “unicorn” Printful, the fleet management platform Mapon, time accounting software DeskTime and others. The total turnover of the group of companies in 2021 exceeded more than 300 million euros.

Our client Draugiem Group was advised by Ellex in Latvia Senior associate Anete Dimitrovska, Senior tax consultant Eduards Dzintars and Associate Kristers Losans. The responsible partner was Filips Klavins.