CommIT Capital, the venture arm of Russia’s national telecom operator Rostelecom, has made its first investment, injecting 100 million rubles (almost $1.4 million at the current exchange rate) in Raidix, a data storage solution provider.
The fund received a 30% stake in the company, Russian business daily Vedomosti learned from official sources.
Radix offers high performance SAN and NAS storage system software. Its solutions are tailored to fit industry-specific data storage needs in the fields of media and entertainment, healthcare, and high-performance computing (HPC).
With a global network of storage vendors, system integrators and IT solution provider, the company generated 100 million rubles in revenues last year. Half of this amount came from foreign clients, Raidix’s CEO Alexander Katarov told Vedomosti.
This sales volume accounts for less than 1% of the domestic and global markets, a KommIT representative told Vedomosti. Among the Russian company’s competitors are such giants as Dell-EMC, IBM and Hitachi.
Rostelecom expects Raidix to control up to 30% of the domestic market, thanks to purchases from Rostelecom itself and its clients.
Based in St. Petersburg, Raidix has opened an international office in Switzerland.
CommIT Capital, which launched last year, has received so far 1.5 billion rubles (approximately $20 million) from its shareholder Rostelecom. The fund is expecting to close three additional deals in the nearest future, according to Vedomosti.
