Bank Saint Peterburg, a major Russian bank, will soon have its own venture fund and a “VC Lab.” These plans were unveiled at ‘Innovate or Die ‘ an industry conference held in Moscow earlier this month, by the bank’s VP Investment Direction Anna Gurevich.
The $30-million fund will focus on early stage projects in the fields of financial technologies as well as IoT, software, information security, advertising technologies, Big Data, industrial technologies and biotechnologies.
Up to 20 transactions may be completed in the course of three to five years. The fund intends to invest contribute $50,000 to $150,000 in each deal along with other investors.
Source: Firrma.ru
Topics:
Finance, News, Regions & cities, St Petersburg, Venture / Private equity
