Berlin - SMP advised the renowned VC funds Lightspeed Ventures Partners (Lightspeed) and Viola Ventures (Viola) on their investments in the accounting software company Candis. In addition to Lightspeed and Viola, Dutch investor Rabo Frontier Ventures among others participated in the Series B financing round. Lightspeed and Viola were advised comprehensively by a team led by SMP partner Benjamin Ullrich. SMP had already advised Lightspeed on the Series A financing round of Candis in 2018. At that time, the investment had been the first in the German market for the Silicon Valley-based venture capital firm.
"Despite the vibrant startup scenes in Israel and the high degree of innovation in the Silicon Valley, the participation of Lightspeed and Viola in Candis shows that international investors also see great market potential in German fintechs. We are pleased that we were able to accompany both investors on this cross-border transaction as advisors", says Benjamin Ullrich.
Lightspeed Ventures Partners
Lightspeed is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. Lightspeed and its affiliates currently manage USD 10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia and Europe.
Founded in 2000, Viola has its focus on early-stage tech investments. The Israel-based VC fund invests across a number of key market segments including enterprise infrastructure & applications, fintech, frontier & deep technologies (automotive, IOT, AR/VR, drones), robotics and consumer services. With regard to Seed, Series A and Series B financing rounds, Viola typically invests between USD 2-10 million. With more than 90 portfolio companies, Viola has backed a substantial share of Israel's exits to date, including Actimize, RedBend, DesignArt, CopperGate, Exelate and ECI.
Founded in 2015 by Christopher Becker, Christian Ritosek and Garik Suess, Candis specializes in the automation of financial processes. The Berlin-based FinTech has developed software that enables companies to automate recurring accounting processes by using artificial intelligence.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.
Advisors Lightspeed/Viola: SMP
Dr. Benjamin Ullrich (Lead/Corporate), Partner
Dr. Malte Bergmann (Tax), Partner
Dr. Adrian Haase (Corporate), Senior Associate
Ann-Kristin Lochmann (Tax), Senior Associate
Daniela M. Machado Jonetzki (Corporate), Foreign Associate
Christiane Schnitzler (Corproate), Associate