Finance

Legionfarm raises $1.5 million to develop coaching and hiring services for online games

September 24, 2019

Legionfarm, a Russian-founded platform for training and hiring professional gamers, has secured $1.5 million, the Kommersant business daily reported yesterday. The bulk of this amount, $1.4 million, was contributed by TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, while the remaining $100,000 came from Denis Smetnev, a co-founder of Russian edtech startup SkyEng …

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Calvey case: Charges are falling apart

September 20, 2019

The charges against Baring Vostok executives could fall apart as investigators have re-appraised the value of shares of a bank which was central to the case. These shares were handed over by Baring Vostok to Vostochny Bank as part of a loan repayment; and their value was, in reality, many times higher than the amount …

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Russian gaming giant Playrix invests in Belarusian Vizor

September 12, 2019

The thriving Belarusian online gaming scene saw an important move last month with Playrix, a global Russian-founded gaming giant, investing in local leader Vizor, as reported by the local media. The details of the deal were not disclosed, but the companies presented it as “a strategic partnership,” while Vizor shareholders claimed they gave priority to “smart …

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Russia’s Sberbank and Singapore’s Trafigura secure oil sales transaction via blockchain

September 12, 2019

Russia’s largest bank Sberbank and Trafigura Group Pte. Ltd of Singapore made a pilot blockchain transaction as part of a West Siberian oil sales deal during Russia’s Eastern Economic Forum on September 5, Sberbank said in a press release. Sberbank purchased from Trafigura its accounts receivable of a major Turkish trader. Sberbank and Trafigura agreed on the …

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Tinkoff Investments launches Open API for algorithmic traders

September 11, 2019

Tinkoff Investments brokerage platform launches Open API (application programming interface) for algorithmic traders, enabling them to create robots and set up automatic trading. The new solution gives algorithmic traders a unified API and a single brokerage account for trading securities on the largest global stock exchanges. The users no longer need a separate trading account for …

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Russia’s VEB Ventures to launch new tech fund with South Korean partner

September 11, 2019

Veb Ventures (formerly VEB Innovations), a venture fund backed by state development agency VEB.RF (Vnesheconombank), is teaming up with Korean Daedeok Ventures Partners to create a Russian-Korean investment fund.  The two partners expect “leading Russian and Korean financing organizations, state and private investors” to invest in this fund, which could amount to “up to $200 million.”  The …

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Russia’s investment image severely hit by Calvey affair, but Baring Vostok “will continue to invest”

September 9, 2019

The long-term horizon predictability for foreign investors in Russia took a big hit earlier this year with the arrest of US citizen Michael Calvey, the fund manager and founder of Baring Vostok Capital Partners (BVCP). One of the most established Russian private equity firms, Baring Vostok invested in some of Russia’s best tech companies. The Calvey …

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Russian and Japanese partners aim to launch medtech fund and tech center

September 11, 2019

RVC, the Russian state-owned fund of funds dedicated to innovation, is teaming up with Japanese corporation Mizuho to create a investment fund dedicated to medical technologies. The news was reported Thursday by news agency TASS, based on an exchange with RVC’s general manager Alexander Povalko at the Eastern Economic Forum in Vladivostok.  Povalko added that …

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Self-driving vehicles could “make Yandex a much larger company,” believes UBS

September 3, 2019

Yandex is likely to enjoy a monopoly in the field of unmanned vehicles in Russia, and these activities could be valued at up to $7.7 billion by 2030. This is how UBS envisions Yandex’s prospects in this market, according to an analysis which was revealed last week by the Russian business daily RBC.  Yandex’s commercial …

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US digital media company acquires Russian AI-driven content personalization technology

August 29, 2019

US digital media company PressReader has acquired News360, a Russian-founded, California-based provider of content personalization and publisher analytics tools. The amount of the deal, announced last week, has not been disclosed. Founded in Moscow in 2010, News360 has developed a technology that “analyzes and attributes content from any given news story to more than a …

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Russian food delivery company secures $5 million from international marketplace Joom

November 12, 2020

iGooods, a major product delivery company in Russia, has agreed a “strategic partnership” with Joom. This Russian-founded international marketplace has disbursed 325 million rubles (around $4.9 million at the current exchange rate) in exchange for a  10% stake in iGooods. The deal was closed in mid-August, as announced by the companies.  Last year iGooods already attracted …

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Sberbank acquires large stake in online media group Rambler

August 27, 2019

Yesterday Sberbank, the state-controlled financial giant, announced it completed the acquisition of a 46.5% stake in Rambler Group, a major online media and entertainment group. The deal, which was approved by the antimonopoly authorities, has given Sberbank equal stake to investment holding company A&NN, while Era Capital owns the remaining 7%. A&NN is affiliated to Russian …

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