Venture / Private equity

Swedish and Russian businessmen team up to invest in Iranian digital assets

April 1, 2016

Two Russian businessmen — former Qiwi shareholder and Parus Capital President Andrey Muravyev and Parus Capital Managing Partner Boris Sinegubko — invested last year “several million US dollars” in three Iranian Internet companies. These include DigiKala, Iran’s largest e-commerce company, as well as leading classifieds sites Divar and Sheypoor. The investment was revealed earlier this month …

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New Russian fund targets financial and medical startups

March 17, 2016

Confirming that the Russian venture industry, though declining, is far from agonizing, a new fund was launched last month in Moscow with $10 million under management. Christened ‘RB Capital,’ the fund intends to invest in financial and medical technologies in Russia and abroad. It will target, in particular, startups in the fields of open source, B2B …

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Mail.ru Group completes sale of HeadHunter; Goldman Sachs said to be among new shareholders

March 14, 2016

Mail.ru Group, a leading LSE-listed Russian Internet group, has completed at last the sale of HeadHunter (hh.ru) to a consortium of investors led by Elbrus Capital. Russian business daily Vedomosti learned from unnamed sources that Goldman Sachs was part of the consortium, but the bank declined to confirm this information. The transaction, which is worth a …

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Venture capitalists turn away from Russian e-commerce while offline retailers demonstrate renewed activity

November 9, 2016

Last year saw paradoxical investment trends in Russia’s young e-commerce industry, with venture and private equity investment continuing to fall while a range of offline players started or resumed online projects. On the venture side, investment reached historic lows. According to RMG Partners’ preliminary estimates, just 42 deals were closed, totalling $137 million — down …

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Rostelecom’s venture fund invests 100 million rubles in data storage solution provider

November 24, 2016

CommIT Capital, the venture arm of Russia’s national telecom operator Rostelecom, has made its first investment, injecting 100 million rubles (almost $1.4 million at the current exchange rate) in Raidix, a data storage solution provider. The fund received a 30% stake in the company, Russian business daily Vedomosti learned from official sources. Radix offers high performance …

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Russian medical appointment startup secures $4 million from local fund

March 9, 2016

Moscow based fund Guard Capital has invested $4 million in DocDoc.ru, a startup that helps users find doctors and setup medical appointments across 15 Russian cities. The terms of the transactions have not been disclosed, but in an exchange with Rusbase.com, Guard Capital Investment Director Vladimir Grigorashenko indicated that the last tranche of the investment had been provided in …

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Ulmart sees sales slow down amid the crisis but confirms western IPO plans

August 30, 2016

Ulmart, a leading Russian e-commerce player, saw its revenues almost stagnate last year, with sales reaching just 62.7 billion rubles, up from approximately 60 billion rubles in 2014, including VAT ($1 billion and $1.3 billion, respectively). The company showed a “slightly positive” EBITDA, Ulmart’s chairman and key shareholder Dmitry Kostygin told Kommersant, a leading business daily, earlier this week. In an email …

Ulmart sees sales slow down amid the crisis but confirms western IPO plans Read More

Russian funds invest $15 million in US company GridGain to “revolutionize real-time data access and processing”

May 29, 2017

Last week US-based GridGain Systems announced that it raised $15 million in a Series B funding round led by Sberbank, Russia’s national savings bank, and MoneyTime Ventures. The latter, a Moscow-based fund, manages Sberbank’s international venture arm SBT Venture Capital. Almaz Capital, an international fund with Russian roots, and RTP Ventures, the New York City-based venture arm of …

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Russian funds take part in YouAppi’s $13.1 million funding round

February 22, 2016

YouAppi, a San Francisco-based startup that has developed a Big Data-driven solution for mobile marketing, has raised $13.1 million from an international consortium of investors, including AltaIR, Emery Capital and Flint Capital, three funds with Russian roots. Also participating in this Series B round are Click Ventures, Digital Venture (Ukraine), Global Brain (Japan) and Hawk Ventures (USA) as well as …

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Tatarstan teams up with Enterprise Ireland to launch Russian startups globally

February 26, 2016

Earlier this month Pulsar Venture Capital, an early-stage investment fund from Tatarstan, an entity of the Russian Federation, announced the launch of a startup accelerator in partnership with government agency Enterprise Ireland and Dublin-based early stage investor NDRC. The accelerator promises to help startups “enter the global market and find an investor or strategic partner in 100 days.” Three locations are involved: Kazan (the capital of Tatarstan), Dublin and …

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Moscow-based Titanium Investments raises an additional $50 million to invest in Israel, Russia and other countries

February 21, 2016

Last week Moscow-based venture fund Titanium Investments announced that it has raised an additional $50 million to continue investing in Israel, Russia and other countries, with a focus on software-as-a-service, Internet of Things, virtual-reality and augmented-reality companies. “We see Titanium as a partner in addition to being an investor. We try to be really concerned in business processes,” stated the fund’s …

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Dutch investors put $2 million in Russian mobile solution provider Appnow

February 18, 2016

Appnow, a Russian startup based in Tatarstan, has raised $2 million from Dutch investment company Maxforсing ВV, as reported by Rusbase.com. The terms of the deal were not disclosed. Appnow enables restaurants, cafes and beauty salons to create their own mobile apps. An application for iOS, Windows Phone or Android may be created and automatically authorized by …

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