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Moscow court lifts US investor Michael Calvey’s restrictions on leaving home

January 25, 2022

The Meshchansky District Court of Moscow has lifted the house arrest restrictions on US citizen Michael Calvey, the founder of top private equity fund Baring Vostok,  three years after his arrest and months in jail.  The courts previously ruled that Calvey was forbidden to leave the house after 8pm, communicate with witnesses outside the framework …

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Russian tech entrepreneurship on the rise: Forbes identifies 10 “future unicorns”

February 3, 2022

Far from their native countries, Russian-speaking entrepreneurs are thriving in the world’s major tech hotspots — from Silicon Valley, to Western Europe, to South-East Asia. These entrepreneurs have colonized the world’s best accelerators, including such ones as Y Combinator, 500 Startups and Techstars. Russian-speaking entrepreneurs reportedly accounted for 40% of a recent Alchemist batch.  The …

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Russian startup Kodland raises $9 million to offer remote programming courses in eight new languages

January 11, 2022

Just a year after its previous round, Russian edtech startup Kodland secured $9 million in a Series A funding round.  As reported by TechCrunch, the round was led by Redseed, with participation from Baring Vostok, Kismet, Flyer One Ventures and Alexander Nevinsky, a partner at I2BF who took part in the December 2020 round. All these investors have roots in Russia, excepted Flyer One whose team …

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Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg

December 16, 2021

August Meyer, co-owner of cosmetics chain Rive Gauche and former co-owner of now defunct online retail Ulmart — was arrested Wednesday last week in St. Petersburg. Meyer and his wife, Inna Meyer, are suspected of embezzling 2.4 billion rubles ($32.6 million at the current exchange rate) from state-owned bank Sberbank on the pretext of developing Ulmart shortly …

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Baring Vostok invests $13 million in leading Russian marketing automation company

December 10, 2021

Baring Vostok, a leading Moscow-based PE/VC firm operating essentially in Russia and neighbouring countries, has invested $13 million in a customer data platform for marketing automation called Mindbox. The terms of the deal were not disclosed, but Forbes Russia reported that Baring had received a minority stake in exchange for its investment, while Mindbix employees were …

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Top Russian cybersecurity executive Ilya Sachkov arrested in state treason case

November 23, 2021

On Sept. 28 Russian authorities arrested Ilya Sachkov, the 35 year-old founder and CEO of a leading Russian cybersecurity company, under “state treason” charges. The news sent a chill through the IT and business community, as it followed recent cases involving prominent tech entrepreneurs and investors in Russia — from US private equity investor Michael …

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Russian-founded Jiffy raises $28 million to roll-out super fast food delivery service in the UK

September 27, 2021

Jiffy, a 10 month-old UK grocery delivery and dark store startup, has secured a $28 million Series A round. Coming after two funding rounds completed earlier this year, this capital injection brings to $35 million the total amount raised so far by the startup, as reported by TechCrunch. Led by family-owned investment company Heartland, the round was supported by Baring Vostok, …

Russian-founded Jiffy raises $28 million to roll-out super fast food delivery service in the UK Read More

Yandex launches grocery delivery service in Paris

September 11, 2021

Yandex, the NASDAQ-listed Russian digital giant, yesterday announced the launch of its express grocery delivery service in Paris. “Leveraging its own advanced technologies and backed by its unique and vast expertise and experience in the e-grocery market. Yango Deli has started operating with four warehouses (also known as ‘dark stores’), which will cover approximately 1 million …

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US investor Calvey appeals Russian embezzlement conviction

September 3, 2021

American investor Michael Calvey has launched an appeal against his controversial conviction on embezzlement charges, the state-run RIA Novosti news agency reported Thursday. “The court has received an appeal by Michael Calvey’s defense lawyers,” a representative of Moscow’s Meshchansky district court told the news agency. The appeal is the latest twist of a legal saga that has …

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Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences

August 15, 2021

On Friday, Aug. 6, more than two and a half years after its beginning, a high-profile case emblematic of the rule of law in Russian business life came to a decisive development. American Michael Calvey, French Philippe Delpal and their Russian colleagues of the Baring Vostok managing team were found guilty by a Moscow court. …

Russian court finds Baring Vostok’s top managers guilty of embezzlement, Calvey and Delpal receive suspended sentences Read More

Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year

July 26, 2021

Baring Vostok, the Russian PE/VC giant, Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin, and Goldman Sachs have invested $50 million in GetCourse.  This Russian edtech startup allows its customers — more than 20,000 schools, trainers, coaches and bloggers — to create, deliver, promote and sell their own educational content.  The service, which …

Russian GetCourse secures $50 million from top investors, expects to generate $1 billion in GMV this year Read More

Baring Vostok invests $6 million in high-tech travel booking platform

July 22, 2021

Level.Travel, a Russian platform for searching and booking tours online, has raised $6 million from Moscow-based PE/VC giant Baring Vostok, in exchange for a minority stake. Previous investor Guard Capital, a Moscow-based VC, is keeping its stake in the company’s capital. No further details of the deal were disclosed. Founded ten years ago by Dmitry Malyutin, Ellin …

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