Founded by Russian businessmen, LSE-listed fund TMT Investments stands as one of the most active Russian-backed funds operating internationally.
The fund, which has raised some $30 million in total since its inception in 2010, published today its results for the year ended 31 December 2014.
- In 2014, TMT Investments raised $2.65 million of capital and invested $3.37 million invested in 11 new companies. An additional $0.95 million was invested in four existing portfolio companies.
- The fund’s diversified portfolio, with 32 companies in total, focuses on mobile software applications, cloud solutions, advertising technologies, social discovery shopping, and business SaaS tools.
- In 2014, the portfolio had one profitable cash exit (The One-Page Company, Inc.), two positive non-cash revaluations (Gild, Inc. and Backblaze, Inc.), one impairment (Graphicly, Inc.) and one negative non-cash revaluation (UsingMiles, Inc.).
- The fund expects “a number of significant positive portfolio revaluations expected in 2015,” but some negative revaluations are expected as well.
Launched by German Kaplun, Alexander Morgulchik and Artyom Inyutin, the founders of the large Russian media holding RBC back in the 1990s, TMT was introduced on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange, in late 2010.
TMT’s latest investment went to ScentBird, a subscription-based online perfume retailer founded in New York by three Russian émigrés.
Topics:
Finance, International, Venture / Private equity
