Venture / Private equity

Russian venture market grows but remains modest by international standards

November 6, 2019

Venture investment volume in Russia reached almost half a billion US dollars ($493.6 million) in the six first months of this year, according to Dsight. This Moscow-based venture analytics and business intelligence agency released last week the English version of its latest industry report. While still modest by international standards (US venture deals accounted for …

Russian venture market grows but remains modest by international standards Read More

Runa Capital takes part in €15 million Series B round in France

October 17, 2019

Last week the French-founded customer feedback startup Critizr announced the completion of a €15 million Series B round led by 83North Venture Capital, a global VC giant. Runa Capital, an international VC with Russian roots – which already backed the startup in 2015 – contributed an undisclosed amount to the round. Founded in France in …

Runa Capital takes part in €15 million Series B round in France Read More

Sept. 2019 in Eastern Europe: BlaBlaCar acquisition; State support and venture repellent from Russia

October 17, 2019

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and neighboring countries in Eastern Europe and Central Asia. Since January 2019, EWDN chief editor Adrien Henni has offered a monthly column to highlight the most notable industry facts and trends as well as promising tech innovations from these countries. The September review highlights the …

Sept. 2019 in Eastern Europe: BlaBlaCar acquisition; State support and venture repellent from Russia Read More

Baring Vostok executives will be kept under house arrest until January in spite of weakened charges

October 9, 2019

A Moscow court ruled yesterday that Michael Calvey, the prominent US investor arrested in February, and his French colleague Philippe Delpal, should remain under house arrest until January 13. According to the Investigative Committee, which requested such measure, three more months are required to complete the investigation, as reported by the TASS news agency. Initially …

Baring Vostok executives will be kept under house arrest until January in spite of weakened charges Read More

Russia’s Sistema_VC invests in UK startup SenSat

October 7, 2019

Sistema_VC, the venture capital arm of Russian multi-industry investment conglomerate AFK Sistema, will invest $10 million in UK startup SenSat, Vedomosti daily reported last week. Founded in 2015, this geospatial technology startup “turns complex visual and spatial data into a real-time simulated reality that helps computers solve real world problems.” This AI-powered technology “allows companies operating in …

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Russian oilfield tech startup secures $5 million from domestic investors

October 2, 2019

Geosplit, a Russian oilfield solution and service provider, has secured $5 million from domestic investors Rusnano Sistema SICAR and UCP. This Series B round will allow the company to expand to no less than 20 foreign markets. Just a month ago Geosplit announced it established a research laboratory in China, “gaining access to all the …

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How Russia’s social media VK and OK grew and made Yuri Milner even richer

October 1, 2019

Russia has two homegrown social networks, VKontakte (VK) and Odnoklassniki (OK), which both grew with financial support of Israeli-Russian billionaire Yuri Milner. Now properties of LSE-listed Mail.ru Group, these sites have shaped Russia’s social media landscape and still dominate the market far ahead of Facebook. This video is part of “Holy War,” a seven-episode series …

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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 …

Calvey case: Charges are falling apart Read More

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 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 …

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

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