Category: Estonia

Cobalt has advised Stargate Hydrogen on its EUR 11 million series A funding round that saw the participation of Giga and UG Investments as well as SmartCap Green Fund. Ellex advised SmartCap.

According to Cobalt, Stargate Hydrogen is an Estonian manufacturer of electrolyzer stacks and systems dedicated to advancing the production and utilization of green hydrogen through cutting-edge ceramic-based electrolysis technology. 

SmartCap Green Fund is a state-backed venture capital fund investing in greentech companies.

The Cobalt team included Managing Associate Greete-Kristiine Kuru, Associate Elis Toim, and Assistant Lawyer Paul Schifrin.

The Ellex team included Partner Antti Perli and Counsels Rutt Vark and Merlin Liis-Toomela.

TGS Baltic has promoted Triinu Jarviste to Partner and Erki Fels to Associate Partner at the firm’s Estonia office.

The promotion round also saw Mari Anne Rohtla elevated to Counsel.

Jarviste focuses primarily on competition law and state aid. She has been with the firm since 2017, when she joined as a Senior Associate, and was promoted to Counsel in 2021 and Associate Partner in 2023. Earlier, she worked for Varul as an Associate between 2011 and 2014 and a Senior Associate between 2014 and 2017.

Fels’ primary areas of focus are litigation and public procurement. He joined TGS Baltic in 2024 as an Attorney at Law. Earlier, he worked for PwC as an Attorney at Law between 2016 and 2024 and, earlier still, with the Tallinn Circuit Court as a Consultant between 2014 and 2016.

“Regulations and everything related to them are of central importance in the developed legal landscape,” commented Managing Partner Sander Karson. “We…are very happy to have colleagues like Triinu Jarviste and Erki Fels, who have been helping our clients for many years as clear market leaders with their daily endless energy, in-depth knowledge, and extensive experience. I believe that the new roles will give them even more encouragement to continue their journey and advise clients on important strategic issues.”

Ellex has advised Enefit Green on a partnership with Sumitomo Corporation to develop the Liivi Bay offshore wind farm in the Gulf of Riga.

According to Ellex, under the agreement, Enefit Green – the largest wind energy company in the Baltics – is selling a 50% stake in Liivi Offshore, the project company for the wind farm, to Sumitomo Corporation. The project is set to be the first offshore wind farm in the Gulf of Riga, with plans for up to 84 turbines generating a maximum total capacity of 1,000 megawatts and annual electricity production of up to 4 terawatt-hours. Construction is expected to be completed by 2032.

The Ellex team in Estonia included Partner Martin Kaerdi and Counsel Triin Frosch.

Editor’s Note: After this article was published, CEE Legal Matters learned that Njord, working with Herbert Smith Freehils, reportedly advised Sumitomo.

Walless has advised Enterstore, part of Hartenberg Holding, on its acquisition of Miss Mary of Sweden from Swedish Bra Holding AB. Vinge reportedly advised Swedish Bra Holding.

Miss Mary of Sweden is a brand specializing in the design, production, and sale of women’s underwear.

The Walless team included Partners Hannes Vallikivi, Rolan Jankelevitsh, and Toomas Taube, Counsel Johanna Maksing, Senior Associates Angela Kase, Kaisa Uksik, Liis Venelaine, Linda Merileid Tilk, and Riin Rehepapp, and Associate Laura Melk.

TGS Baltic has advised Ready Player Me on the launch of two NFT collections – Collection ZERO and STEPN × PlayerZero.

Ready Player Me is an interoperable avatar platform.

According to TGS Baltic, the first collection, Collection ZERO, was launched in October 2024 on the OpenSea platform as an open-edition release featuring digital collectibles inspired by streetwear and pop culture, which can be used in the PlayerZero avatar editor and related games. Furthermore, in January 2025, Ready Player Me, in collaboration with STEPN, Morchi, and PlayerZero, launched the limited-edition STEPN × PlayerZero collection consisting of 3,000 collectibles on the Magic Eden platform.

The TGS Baltic team included Partner Priit Latt and Associate Rainer Urmas Maine.

TGS Baltic has advised the management team of Verge Eesti on acquiring the company’s Estonian business from its Norwegian parent. Schjodt reportedly advised the sellers.

According to TGS Baltic, Verge Eesti, established in 2013, specializes in training organizations to handle aggressive behavior safely and with dignity, based on the Norway-origin Verge methodology.

The acquisition secures Verge Eesti’s position in the local market as a leading trainer, ensuring full control of intellectual property and further expansion of services.

The TGS Baltic team included Partner Priit Latt, Associate Partner Indrek Ergma, Associate Ingeri-Helena Kakko, and Lawyer Enelin Terav.

Ellex has appointed Counsel Merlin Liis-Toomela as its new Head of Data Protection & IT law in Estonia.

According to Ellex, Liis-Toomela focuses on data protection, intellectual property, and IT law. She has been with the firm since 2017 when she joined as an Attorney at Law. Earlier, she was with Eversheds Sutherland as a Lawyer between 2014 and 2016.

“The field of data protection and IT law is becoming more complex every day,” said Liis-Toomela. “As the head of the practice, my priority is to offer clients practical and effective solutions. I believe that our team’s experience and knowledge will enable clients to navigate the complex legal landscape with confidence.”

Cobalt has advised SmartCap on launching a EUR 100 million Defense Fund.

SmartCap, established in 2011, is a small fund manager dedicated to developing Estonia’s venture capital market.

According to Cobalt, the fund is “aimed at advancing Estonia’s defense industry and developing innovative defense and security capabilities to meet the growing global demand. The Defense Fund contributes to Estonia’s economic growth by improving access to local capital for defense sector companies. It invests in funds managed by both new and experienced fund managers.”

In 2023, Cobalt advised SmartCap on its eAgronom investment (as reported by CEE Legal Matters on July 3, 2023). In 2022, Cobalt also advised SmartCap on the launch of its green technology investment program (as reported by CEE Legal Matters on November 21, 2022).

The Cobalt team included Partner Kristel Raidla-Talur, Managing Associate Greete-Kristiine Kuru, and Specialist Counsel Mart Blondal.

TGS Baltic has advised the City of Tallinn on the merger of multiple city hospitals, including East Tallinn Central Hospital, West Tallinn Central Hospital, Tallinn Children’s Hospital, and Tallinn Ambulance Service, into a unified Tallinn Hospital.

According to TGS Baltic, this consolidated “super-hospital” will serve as a model for future large-scale merges in Estonia and beyond, marking a significant change in how major healthcare institutions can be integrated.

The TGS Baltic team included Managing Partner Sander Karson, Partners Helmut Pikmets and Triin Kaurov, Associate Partners Indrek Ergma and Triinu Jarviste, Counsel Maris Vutt, Senior Associates Ingeri Luik-Tamme and Sergei Jegorov, and Associates Aleksander Pajuri and Britte Koppel.

Walless has advised Lidl on opening a new store in Tallinn.

According to Walless, the store at Mustamae Tee 18 has been built “according to the international EDGE building certification requirements, making it energy-efficient and running entirely on 100% green energy.”

The Walless team included Partners Minni-Triin Park and Kuldar Torokoff, Senior Associates Liina Kais and Margus Koiva, and Junior Associate Maria Lutter.