Softline Seed Fund, a VC fund set up in the end of last year by Softline and government-owned RVC Seed Fund, has invested 7.5 million (nearly $190,000) in the Business Family online network in exchange for a 7% stake in the company.
The Business Family project began two years ago as a business-oriented social network and club facilitating offline meetings between entrepreneurs and mid-and top-level managers of large-scale companies in Russia and abroad.
Business Family, which claims nearly 200,000 registered users, provides a fast track for networking in 20 business sectors, including finance, oil and gas, automotive, etc., in an effort to help users augment their business contacts.
The platform operates in Moscow and five other regions of Russia.
“The Business Family project offers an original business model with a combination of a business social network and a sizable offline component, plus a B2B marketing platform. The effort has been market-tested,” said Elena Volotovskaya of Softline Venture Partners.
Source: RVC
