Djingov, Gouginski, Kyutchukov & Velichkov advised TokWise on the closing of a EUR 3 million equity investment round led by Encavis AG, a Hamburg-based wind and solar park operator listed on the MDAX of Deutsche Börse AG, and including Vitosha Venture Partners – Fond I KD, KIC InnoEnergy SE and Innovation Capital Fund KDA as co-investors.

 TokWise is the Sofia-based company and has set itself the goal of accelerating the digital transformation of the way energy market participants buy and sell their electricity on the different markets. The company has already well-known customers across various European countries.

Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries.

DGKV’s team assisted TokWise and the investors with the legal aspects of the overall process - from initial structuring of the investment, through negotiations and drafting of the transaction documents, to completion of the round and implementation of a capital increase of TokWise.

The team working on the project was comprised of our partner Omourtag Petkov and our senior associate Ivan Punev.