Sfintescu also said the investment targets online legislative services in order to offset the weight of advertising revenues, which account for around 60% of the platform’s turnover.
Alin Popescu, general manager of avocatnet.ro, said the first phase of the investment entails the finalization and launch, in the upcoming period, of the www.superlege.ro platform, a service that will be used to process normative acts and legal news.
The avocatnet.ro platform is controlled by Inteligo Media, a company established in April 2013 and held by Legalnet Media (a 99.9986% stake) and by Lucian Vladut Popa (a 0.0014% stake).
The shareholding structure of Legalnet Media includes Alin George Popescu (a 40% stake), Viorica Mihaela Bogiu (40%) and Lucian Vladut Popa (20%).
avocatnet.ro, whose revenues reached EUR420,000 in 2012, was launched in 2011 and is one of the largest legal news websites in Romania, with more than 300.000 registered members. According to a survey, avocatnet.ro had over 850,000 unique visitors in April this year.
Based on a capital ranging from EUR20 to EUR30 million, Catalyst Romania will establish locally, following investments between EUR200,000 and EUR2 million, small-and medium-seized enterprises (SMEs) mainly operating in the sectors of IT, mass media and telecommunications.
Catalyst Romania is administered by 3TS Capital Partners, one of the leading private equity and venture capital firms in Central and Eastern Europe.