Prytek, a firm that invests in tech startups and distributes their solutions in emerging markets, is strengthening its activities in Russia.
The Israeli-headquartered company, which began commercializing the solutions of its portfolio companies on the Russian market in late 2017, will now also invest substantial amounts (around $2 million per deal) in local startups.
This investment program is being supported by billionaire Igor Rybakov.
Defining itself as “the first global VC integrator,” Prytek claims some 2,500 corporate clients and a portfolio valuation of “over $2 billion.” While Russia is its first market, Prytek has also begun operating in Latin America and India, company representative Anastasia Anichenkova told East-West Digital News.
Prytek invests in technologies in the fields of HR, cybersecurity, AI, education, retail, e-commerce and media. Prytek also has a fintech arm named Global Fintech Solutions (GFS), with offices in Luxembourg, Russia and Israel.
GFS acquires exclusive licenses for technologies intended for financial corporations and other financial institutions. The platform commercializes these technologies on markets with low penetration and high growth potential, including Russia. The current product portfolio includes seven European and Israeli technologies: Way2Vat, Ezbob, Paybox, Scanovate, Hopon, TipRanks and others.
GFS has just attracted a $20 million investment from Da Vinci Capital, a major EBRD-backed Russian private equity firm.
Thus, GFS hopes to “enlarge product portfolio twofold in 2018, boost revenue to $20 million in 2019 and conduct an IPO in two-three years,” according to a company statement.
