Pascal Clément, the Moscow-based French entrepreneur who co-founded Fastlane Ventures, has broadened his investment focus to include a range of new countries through a new investment vehicle, christened Simile Venture Partners.
Since it launched in June of last year, Simile has been investing at the seed or early stages “in any geography where market opportunities exist to build sizeable businesses in five years,” with a special interest in emerging markets.
Focusing on Internet and mobile businesses, the fund has already invested in no fewer than eight startups, including two in Brazil, two in southeast Asia, three in western Europe and one in the United States.
Last month Simile invested an undisclosed amount in TechinAsia, an online publication and event organizer dedicated to the Asian startup and venture scene launched in 2009.
Clément has made his career in Russia. In the late 1990s he launched the country’s first major distance selling companies, which he sold to the Otto group in 2008. In the 2000s he developed Rusfinance, a consumer credit company which Clément eventually sold to Société Générale. Clément also took part in the development of Ozon.ru, exiting from the fast-growing e-commerce company in the mid 2000s.
