Moscow – Mail.Ru Group founder and top Russian Internet investor Mikhail Vinchel joined Buran Venture Capital as LP and advisory board member.
Mr Vinchel is at the top of a list of 7 LPs that invested in Buran VC, a venture fund founded in late 2010 with $10 million of assets under management and targeting to invest a total $50 million in the Russian technology space in the course of the next 4-5 years.
The fund’s target sectors are e-commerce, Internet media, mobile Internet services and software, “communitainment” and SaaS (software as a service), in Russia, CIS, CEE and Israel.
The fund has already invested in two Internet startups: SravniKupi and Epistograph. SravniKupi is an Internet service that allows users to compare insurance rates instantly and buy insurance online. Epistograph is an innovative service for data visualization, analysis and management.
Buran VC’s general partners are Alexander Konoplyasty and Michael Szalontay, both 2003 MGIMO (Moscow Institute for Foreign Affairs) alumni. Previous to Buran VC Konoplyasty worked in PricewaterhouseCoopers, Morgan Stanley, UBS and as an independent financial advisor on the RosBusinessConsulting (RBC) restructuring. Szalontay worked in PricewaterhouseCoopers, Renaissance Group and Elbrus Capital.
“We are proud to be partners with a top Russian Internet investor of Mr. Vinchel’s caliber”, – says Michael Szalontay. “Our investment strategy is based on a rigorous scoring model customized to the Russian start-up market.” – adds Alexander Konoplyasty
Vinchel commented: “I am glad to join Buran VC, because I like the team’s entrepreneurial spirit and believe they have great chances for success in the nascent Russian VC world.”
For further inquiries please contact:
- Ilya Novokhatskiy, Managing partner, DNA Communications, Official PR representative, Mobile: +7 (925) 518-1798, E-mail: [email protected]
- Buran Venture Capital office: +7 (495) 540-4842, Address: 8 Khlebny Lane, 121069 Moscow, Russia
