TEGOS client SpringWater, an entrepreneur-led investment firm focused on acquiring and scaling founder-led SaaS businesses, officially launched today.
The firm is backed by bootstrapped entrepreneurs who have built global category leaders such as Hostinger, WebPros, Contabo, as well as NordVPN, Oxylabs, and nexos.ai (the Tesonet group).
SpringWater targets product-led SaaS businesses with €1–10M ARR that have the potential to become global category leaders. The firm provides long-term capital without forced exits, focusing on partnering with founders to preserve their legacy while unlocking new growth levers.
SpringWater also announced its first portfolio company: FirstPromoter, a leading affiliate marketing platform for subscription-based businesses. Founded in 2017 by Virgil Cioaca, FirstPromoter powers the affiliate programs of 2,000+ SaaS companies worldwide and is one of the leaders in its segment, achieving strong profitability and efficient growth.
TEGOS, with Paulius Dabulskis, acted as lead legal advisor to SpringWater in the acquisition of FirstPromoter, providing comprehensive legal support throughout the transaction. Wolf Theiss assisted SpringWater on Romanian law matters, while Dentons advised the founder.
