Venture / Private equity

Swedish investor has “real romance” with Russian classifieds site

April 6, 2011

Swedish investment company Vostok Nafta Investment called Avito.ru, its online-classified-ads affiliate company in Russia, the “real romance” of its portfolio in 2011. Vostok Nafta, which owns 25.8% of Avito, claims in its annual report that the site established itself as “the number one online classifieds operator in Russia” following the “explosion” of its traffic since …

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New powerful players enter online footwear market

April 5, 2011

Russia’s online footwear market, which only a year ago almost resembled a desert, is witnessing rapid transformation following the initiatives of a number of major players. This market was recently estimated to have a potential of at least €100 – 150 million.

$10 billion sovereign fund confirmed to support foreign investment

April 1, 2011

Russia will create a $10 billion sovereign fund to support foreign investment contributing to the modernization of the economy, confirmed Russian president Dmitry Medvedev during a government meeting in Magnitogorsk, Siberia. The fund will be set-up “by mid-summer,” the president announced.

New investment in local deal site

March 31, 2011

Russian venture investor Ru-Net II has invested an undisclosed amount in Biglion, one of the numerous Russian Groupon copycats, reported blogger Yakov Sadchikov last week.

Russian search engine Nigma.ru launches Vietnamese version

March 29, 2011

Nigma.ru, a little known but innovative Russian search engine, could make a Vietnamese version of its service available as soon as April 1 under the domain name Itim.vn, meaning “I seek” in Vietnamese.

Skolkovo, Rusnano, and Russian Venture Company open office in Silicon Valley

March 28, 2011

Skolkovo, the state-sponsored innovation hub under construction near Moscow, last week opened its American beachhead in Silicon Valley together with Rusnano, a state-owned corporation, and Russian Venture Company (RVC), the state-owned fund of funds dedicated to innovation.

Local deal site raises funds from Russian-American investor

March 14, 2011

Access Industries, a US based industrial holding with international assets owned by prominent Russian-American businessman Leonard Blavatnik, has acquired a stake in Vigoda.ru (in Russian: “Advantage”), one of Russia’s numerous local deal sites.

Omsk-based Internet startup raises $3 million

March 12, 2011

Tulp.ru, a website where users can share impressions on local businesses—from detailed stories of their consumer experince to photos and ratings—is about to raise $3 million from “an important Russian offline player,” reported company founder Taisiya Kudashkina to EWDN.

Skolkovo to select 116 projects in 2011

March 10, 2011

Skolkovo, the state-sponsored innovation hub under construction near Moscow, has selected 28 projects to fund, according to its vice president, Stanislav Naumov, on March 4. He said that by the end of the year, that number will have risen to 116. Important tax and customs exemptions will also be offered.

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