Venture / Private equity

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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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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Moscow summit to gather early-stage investors from Russia, Europe and America (Sept. 13-15)

August 26, 2019

In its third edition, this 3-day event will gather select early-stage investors, including business angels, seed funds and their associations, in partnership with EBAN. Top speakers will come from as far as Austria, Canada, France, Germany, Greece, Israel, Mexico, Panama, Poland, Sweden, Turkey, the UK and the USA. In previous years, the summit took place …

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Skolkovo Ventures to invest $3 million in Industry 4.0 startup

October 8, 2019

BFG Group, a major provider of software solutions to optimize production processes, sill receive $3 million in total from the Skolkovo Industrial Fund. Of this amount, BFG has already received $750,000 as the first part of the investment. The remaining amount will be provided based on specific terms which have not been disclosed.   This …

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Mail.ru Group acquires controlling stake in car-sharing company with leadership ambitions

November 12, 2020

Mail.ru Group, an LSE-listed Russian Internet major, has just announced the acquisition of a controlling stake with a capital injection in the transportation service company YouDrive.  Proxima Capital Group, a Moscow-based investment firm, took part in the deal as a “partner,” stated Mail.ru Group; but neither the nature of this partnership nor the amount of the deal …

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Russia’s Dostavista raises $15 million to conquer the “limitless” global crowdsourced delivery market

August 22, 2019

Earlier this month Dostavista, an international crowdsourced delivery service with Russian roots, announced the completion of a $15 million Series B funding round. The deal was led by Vostok New Ventures, a Swedish investment firm which is actively involved in the Russian VC market, with participation from existing investors Flashpoint and AddVenture.  Founded in 2012, Dostavista already raised …

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Car-sharing company Delimobil seeks massive capital injection before potential IPO

November 12, 2020

Delimobil, a leading car-sharing company in Russia, is seeking to raise at least $60 million, according to Russian business daily Kommersant. The company, of which 77% is owned by Luxembourg-based holding Mikro Kapital Group, has hired Rothschild & Co to help them secure the deal.  According to Kommersant’s unnamed sources, Delimobil intends to claim a $300 …

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July 2019 in Eastern Europe: Photo app hysteria, foreign ownership restrictions, battle of Internet titans in Russia

August 15, 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 July review analyzes the …

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Maximum Education secures $6.2 million from major Russian funds

August 7, 2019

In late July Skolkovo Digital, a tech investment fund managed by Skolkovo Ventures and iTech Capital, led a $6.2 million Series B round in Maximum Education.  The company’s existing investors, Russia Partners and Capman, also participated in the funding deal. They had injected $4 million in Maximum Education in an earlier round, back in 2016. A resident of …

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A new blow to investors’ confidence: Russian draft bill targets foreign ownership of Internet resources

September 2, 2019

This past Friday Russian lawmaker Anton Gorelkin submitted to the State Duma, the lower house of parliament, a bill targeting “significant [online] information resources” with the capacity of “collecting information on [Russian] users.”   Should their foreign ownership exceed 20%, such “information resources” will not be allowed to conduct advertising activities in Russia – an implicit way …

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Russian corporate fund Sistema_VC backs UK agritech startup

July 26, 2019

Sistema_VC, one of the venture investment vehicles of Russian conglomerate Sistema, announces it has led a £3.4 million round for UK agrotech startup KisanHub. Two UK-based funds, Notion and IQ Capital also participated in the round.  KisanHub helps global food and beverage companies “manage their supply chains efficiently by connecting directly with their farmers to collect information and …

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Russia’s largest housing developer acquires stake in Samokat e-grocery service

July 30, 2019

PIK Group, Russia’s largest residential property developer, has invested in the St Petersburg-based Samokat e-grocery service, Russian business daily RBC reported. The financial details of the deal were not disclosed. According to official company registers, PIK acquired 27% of Samokat through its Cyprus- and Russia-based mother companies. Among Samokat’s other major shareholders are Vladislav Bocharov (24%) and …

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