EPAM Systems Inc., a leading global software engineering and IT consulting firm with development centers across Central and Eastern Europe, completed its initial public offering of common stock successfully on Tuesday. The company raised $72 million by selling 6 million shares at $12 each, 67% of which were offered by selling stockholders. The company had …
Heverest.ru, a Moscow-based online retailer of sports and recreational equipment launched by Fast Lane Ventures in June 2011, has attracted a new investment of $4.3 million – just three months after securing $1.3 million in financing. The total investment in this startup now comes to $6.7 million. eVenture Capital Partners, the venture arm of the …
Heverest.ru secures new investment – from mystery financiers Read More
A new player on the Russian venture scene, iTech Capital has attracted capital from a variety of prominent Russian IT businessmen. Its first investments, in late 2011, went to play marketing site The Battle Of Brands and to Giftofoni, an innovative social gifting app launched on the Turkish-language segment of Facebook. In this exchange with East-West …
Sberbank, the Russian national savings bank, announced on Friday the creation of a $100 million venture fund to finance growth stage startups developing IT solutions for the financial industry. “Not only will the fund invest in Russian startups, it will support the most promising innovation anywhere in the world,” the bank’s press release states.
The Russian venture capital firm Troika Ventures, the first institutional investor in Evernote, has decided to sell its stake in the California based IT company. Founded in 2007 by a Russian-American team, Evernote offers a range of computer, phone and web-based tools designed “to remember things big and small from your notable life.” The startup has signed up 20 million …
Troika Ventures exits Evernote at 10 times original price Read More
DST Global, Russia’s leading IT fund with stakes in Facebook, Groupon, Twitter, Zynga and other top global web properties, has bought a 4% equity stake in online fashion store Zalando, The Financial Times reported yesterday. DST is joining current shareholders Rocket Internet, Holtzbrinck Ventures, Tengelmann Ventures and Kinnevik.
Russia’s national telecom operator Rostelecom yesterday announced that its wholly-owned subsidiary, Teleset Networks, has invested 682 million rubles ($22.5 million) to take a 75% minus one share stake in GNC-ALFA, the largest independent Internet and data provider in Armenia. “This is the first acquisition outside of Russia that we have concluded as part of our …
Rostelecom acquires majority stake in Armenian Internet and data provider GNC-ALFA Read More
Russian e-commerce giant Ozon.ru is considering the aquisition of online footwear retailer Sapato.ru, having received the green light from the antimonopoly authorities on February 1st. Ozon has not yet made a final decision, and is also considering other acquisitions, the company’s PR manager Maria Nazamutdinova told Russian business information site Marker.ru.
Russian Venture Company (RVC), the state-owned fund of funds dedicated to innovation, announced yesterday its cooperation with the Investment and Venture Fund of the Republic of Tatarstan (IVFRT) in the creation of a new international fund of funds. The new fund, named RVC IVFRT LP, will invest in international venture funds focusing on innovative companies.
Russian Venture Company (RVC), the state-owned fund of funds dedicated to innovation, is looking to invest in US startups through a newly-established office in Boston. RVC-USA presents itself as a “visionary and strategic investor that melds the innovation of US startups with the resources of Russia.” Its possibilities include direct investment in local startups, in particular those …
RVC USA “melds US innovation with the resources of Russia” Read More
RTI, a large Russian group of high-tech research and production companies, announced on Tuesday the acquisition of NVision, a Moscow based system integrator with regional representative offices in Ekaterinburg, Novosibirsk, Nizhny Novgorod, St. Petersburg, as well as in Kazakhstan and Uzbekistan. RTI will pay $200 million in exchange for a 50% stake in NVision, while …
High tech holding RTI to acquire system integrator NVision Read More
EPAM Systems Inc., a major global software outsourcing provider with development units in Central and Eastern Europe, filed earlier this week to raise up to $133 million in an initial public offering on the New York Stock Exchange. According to a filing with the US Securities and Exchange Commission, the company plans to offer 7.4 …
EPAM Systems launches IPO to raise up to $133 million Read More
