Venture / Private equity

State fund of funds plans to create 10 new funds to stimulate VC activity

September 5, 2018

Earlier this month RVC, the state-owned fund of funds supporting innovation in Russia, announced a new investment strategy. Aiming to stimulate VC activity in the country, which is still stands at relatively low levels, RVC intends to create 10 new funds until 2020, in addition to its existing 26 affiliated funds. Among these new investment tools will be “funds …

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Rostec and Citadel to invest more than $60 million in IT security joint venture

July 26, 2018

State corporation Rostec and IT holding Citadel have announced an agreement to launch a joint venture which will create corporate IT products based on military developments in the field of information security. As reported by Russian business daily Kommersant earlier this month, the JV will mainly focus on cryptography, quantum calculations, machine learning, Big Data …

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E-commerce SaaS publisher PimPay secures more than $3 million from IIDF

July 24, 2018

Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, announced that it invested 200 million rubles (around $3.1 million at the current exchange rate) in the microcredit and factoring startup PimPay. The fund has received a minority share; no other details of the deals have been disclosed. The PimPay …

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Sberbank and Rambler & Co to create multifunction restaurant and food service platform

July 16, 2018

Sberbank, Russia’s national savings bank, Rambler & Co, a sizable Internet group, and tech businessmen Grigory Gurevich and Evgeny Malakhov are joining forces to create a multi function platform for the Russian restaurant and food delivery market. The news was reported earlier this month by the Russian business daily Vedomosti, which cited exchanges with several of …

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Russia’s Leader and China’s Shenzhen Capital launch $100 million tech fund

July 16, 2018

Russian asset management company Leader has teamed up with Shenzhen Capital Group to create a new tech fund. The news was reported yesterday by Russian business daily Kommersant, which cited exchanges with Leader and other sources with knowledge of the deal. Dubbed ‘Russian-Chinese Technological Fund’ (RCTF), the fund plans to invest $100 million in such fields …

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Russian fintech startup Tezis.io secures $1 million, prepares for international expansion

July 9, 2018

Tezis.io, a Russian startup that helps its users invest in stocks from Russian and US companies, has just secured some $1 million from Target Global Fintech Opportunities Fund (TGFOF) with participation from business angel Nikita Mikhin. Launched in 2016, Tezis currently claims to serve 6,000 individuals and as well as two Russian brokerage companies, Aton and …

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Grishin Robotics announces $100 million investment program in partnership with US game developer

July 10, 2018

Grishin Robotics has agreed a “strategic partnership” with Epic Games, a US video game and software development corporation, to “drive innovation in robotics and simulation” using Epic’s Unreal Engine. The fund is ready to invest as much as $100 million in startups using this technology “to create innovative and time-saving applications in robotics, smart hardware …

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Russian and Belarusian funds invest $2 million in AI startup

July 3, 2018

Larnabel Ventures, a Moscow-based company founded by the Gutseriev family to invest in IT, and VP Capital, a venture fund backed by Belarusian businessman Viktor Prokopenya, have teamed up to invest $2 million in Read2play, as reported by VentureBeat earlier this month. Developed by Belarusian AI startup FaceMetrics, this app presents itself as “not just …

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DST Global leads giant round for Indian food delivery startup

June 27, 2018

DST Global, a major global venture fund managed by Russian billionaire Yuri Milner, led a $210 million round for the Indian food delivery startup Swiggy, TechCrunch has reported. Another leading investor was the startup’s earlier backer Naspers. The round brought the company to a $1.3 billion valuation. According to CrunchBase, Swiggy has raised to date $465.5 …

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American-Russian web server publisher Nginx secures $43 million from Goldman Sachs

March 12, 2019

Yesterday Nginx (pronounced “engine-x”), a US-based open source web server publisher with Russian origins, announced a  $43 million Series C round led by Goldman Sachs Growth Equity. Ngnix’s founder, Igor Sysoev, is a former system administrator at Rambler, a pioneer Russian web company. He initially released his server software in 2004 and has been developing his web server solution since …

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