Venture / Private equity

Siberian venture firm teams up with Chinese investors to launch cryptocurrency-based fund

June 16, 2017

Kapinvest 21, a VC company in Tyumen, in Russia’s Southeast Urals, has partnered with a group of unnamed Chinese investors, Asia LP, to launch FinShi Capital, a venture fund based on cryptocurrencies. The fund will target blockchain and fintech projects in Russia and beyond. The fund began selling pre-ICO (Initial Coin Offering) tokens today, June 15, with …

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Three state-backed venture funds launched to help Russian startups go global

June 16, 2017

Last week at the Startup Village open-air conference, the Skolkovo Foundation announced the launch of Skolkovo Ventures, a group of three new investment funds devoted to IT, industrial technology and biotech. The funds, which have been set up in partnership with the state-backed fund of funds RVC, will operate out of an office in the …

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Runa Capital invests in French startup SimpliField to “reinvent retail”

June 12, 2017

Runa Capital, a venture fund with Russian roots operating globally, has just participated in a $4 million seed round for  SimpliField. Based in Lille and Paris, France, this startup has developed a SaaS solution which it claims can change “the way retailers sell and deliver great customer experience.” The French investment fund CapHorn also took …

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Yandex and Baring Vostok invest $5 million in house-call doctor service

June 6, 2017

The Russian house-call doctor service DOC+ is announcing the completion of a $5.5 million Series B round involving Yandex, the Russian search giant, and Baring Vostok Capital Partners, a major Moscow-based investment fund. The two investors had already injected $5 million in the startup less than one year ago. The company’s first funding, in 2015, amounted to …

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Russian fund makes 1,600% ROI from Chinese acquisition deal

May 31, 2017

Russia’s VTB Capital Asset Management claims to have made a 1,600% return on investment (“up to 15 times”) as a result of the recent acquisition of Grid Dynamics, a provider of advanced software development services, by China’s Automated Systems Holdings Limited (ASL). Launched in 2006, Grid Dynamics has asserted itself as a major international provider of technology …

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Sberbank acquires medical appointment startup DocDoc to build “a full-fledged e-health platform”

May 28, 2017

Sberbank, Russia’s national savings bank, has acquired a controlling stake (79.6%) in DocDoc.ru, a startup that helps users find doctors and set up medical appointments across 14 Russian cities. The details of the deal have not been disclosed, but the bank has specified that the remaining shares belong to the founding and top management teams — which …

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Russian billionnaire invests in face recognition technology

May 11, 2017

Russian startup NtechLab, which creates “algorithms as intelligent as humans and as efficient as machines,” has raised $1.5 million, reports Russian business daily Vedomosti, citing exchanges with the company’s founders and the involved investors. Led by Impulse VC, a venture fund which is reportedly affiliated to Russian billionaire Roman Abramovich, the fund has also involved …

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EBRD shareholders reject Russian challenge to funding freeze

May 11, 2017

As reported earlier this week by Bloomberg, the European Bank for Reconstruction and Development (EBRD) confirmed once again that it will not to resume operations in Russia in the foreseeable future. As the EBRD’s board met Wednesday in Cyprus, the Russian economy minister, Maxim Oreshkin, questioned the legitimacy of the 2014 decision to freeze new investment projects in Russia, arguing …

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Siberian university, state fund and private business team up in joint VC fund

April 28, 2017

RVC, Russia’s national fund of funds for innovation, the Tomsk State University (TSU) in Siberia and DI-Group, a private Russian management company for VC funds, are expected to ink an agreement in May to set up a joint venture fund, Interfax-Siberia reported, citing TSU Rector Eduard Galazhinsky. “The university must become a full-fledged player in a …

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Mail.Ru announces $100 million global investment program in online gaming

December 4, 2018

Today Mail.ru Group, an LSE-listed Russian Internet company, announced the creation of ‘Mail.Ru Games Ventures’ (MRGV), a new division to invest in game development, technology and marketing worldwide. “Up to $100 million” is allocated to this investment program, of which $10 million has already been spent for the first deals, which have not been disclosed. The group targets “accomplished game studios …

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3D modelling app maker GeoCV secures $1.8 million from Runa Capital and Emery Capital

April 19, 2017

GeoCV, a New York-headquartered startup with Russian roots, has secured $1.8 million from Runa Capital, a venture fund with Russian roots operating globally, its existing investor Moscow-based fund Emery Capital, and several US business angels. The funds will be used to develop the product and develop sales in the US market. “Our goal is to become …

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