Venture / Private equity

Tomasz Czechowicz of Polish fund MCI: “We believe it’s a time to buy and build in Russia”

April 3, 2015 February 25, 2016

While several international investors have suspended or reduced activities in Russia, MCI, a major Polish fund, is continuing to invest in the country, among others. Its current Russia portfolio includes KupiVIP, Travelata and Oktogo. In this exchange with East-West Digital News, the fund’s managing partner Tomasz (Janusz) Czechowicz shares his vision of the Russian digital market, and …

Tomasz Czechowicz of Polish fund MCI: “We believe it’s a time to buy and build in Russia” Read More

Net Element acquires PayOnline to “cover all methods of online and mobile payments in Russia”

March 31, 2015 February 25, 2016

Earlier this month Net Element, a NASDAQ-listed provider of mobile payment and value-added transactional service and solutions in Russia and in the United States, announced the acquisition of Russian Internet payment service provider (IPSP) PayOnline. The deal amounted to some $8 million, reported online tech portal CNews.ru, referring to SEC documents. The closing is still …

Net Element acquires PayOnline to “cover all methods of online and mobile payments in Russia” Read More

Russia’s SBT Venture Capital invests in Californian provider of e-commerce risk management solutions

March 26, 2015 February 25, 2016

Earlier this week SBT Venture Capital, the venture arm of Russia’s national savings bank Sberbank, announced that it has invested in IdentityMind Global, a Palo Alto, California-based provider of risk management solutions for e-commerce. Also participating in the round – the amount of which has not been disclosed – were Benhamou Global Ventures, Cybernaut Venture Capital and Lakewood & Company, the …

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GVA LaunchGurus aims to introduce Silicon Valley practices to Russian startup ecosystem

March 24, 2015 February 25, 2016

Earlier this month GVA LaunchGurus launched the eighth edition of its accelerator program, the “GVA Accelerator – Startup Academy,” with the participation of 26 high-tech professionals and entrepreneurs. The 10-week program aims to strengthen their projects by providing new skills, business connections and fund-raising opportunities. Among the teachers and business coaches involved in the program …

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Western investors injected $5 million in Russian online travel agency Oktogo

March 16, 2015 February 25, 2016

In December last year Oktogo, a major Russian online travel agency and content portal, secured “more than $5 million” from a pool of investors which included essentially Poland’s MCI Management, Luxembourg’s Mangrove Capital Partners, France’s Ventech and Russia’s ABRT. The deal was revealed last week by Russian business daily Vedomosti and confirmed to East-West Digital …

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Report: Goldman Sachs invested $8 million in Russian flight ticket booking site Onetwotrip

March 13, 2015 March 2, 2017

Goldman Sachs invested $8 million in Onetwotrip.com, a Moscow-based startup that sells air tickets and hotel bookings to users from Russia and several European countries. The capital injection was not publicly announced when it took place in late 2014, but it was revealed last week by Russian business daily Kommersant, which cited sources close to …

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Wedding startup from Tatarstan secures $400,000 from business angels

March 12, 2015 February 25, 2016

Russian wedding startup Wedvice, a resident at the business incubator of the Naberezhnye Chelny IT park, in Tartarstan, has received 25 million rubles (a little more than $400,000 at the current exchange rate) in investment. The investment came from Moscow businessman Alexander Borobyov, CSKA Basketballer Vitaly Fridzon and fellow IT park resident DoctorNet.pro. Among the service’s …

Wedding startup from Tatarstan secures $400,000 from business angels Read More

Bank software publisher Double Data secures $3 million in Series A round

March 11, 2015 February 25, 2016

Last week two Moscow-based venture funds, Leta Capital and Simile Venture Partners, announced they invested “nearly $3 milllion” in Double Data, a Russian startup developing Big Data solutions for financial institutions. The details of the deal were not disclosed, but Double Data co-founder Maxim Ginzhuk told East-West Digital News that Leta led the round, and …

Bank software publisher Double Data secures $3 million in Series A round Read More

Telepresence robot developer receives $160,000 in grant and investment

March 4, 2015 July 9, 2015

Russian company Wicron has attracted 5 million rubles (approximately $80,000 at the current exchange rate) of investment from Ashmanov & Partners, a leading Russian web and SEO agency. The transaction took place in December 2014, but was announced only last month. This funding came in addition to a grant for the same amount offered by …

Telepresence robot developer receives $160,000 in grant and investment Read More

India and Russia agree to finance joint innovation projects

March 3, 2015 February 26, 2016

Investors are ready to plow up to $20 million into joint startup projects between India and Russia, the Skolkovo Foundation reported last month. “At Skolkovo alone we have 70 registered venture funds that want to invest in [Russian-Indian] innovation projects,” Skolkovo Vice-President Igor Bogachev was quoted as saying. “We could be talking about investment from $10 million …

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Runa Capital invests €3 million in Finnish open source database solution provider MariaDB Corp.

February 27, 2015 February 26, 2016

Last week Runa Capital, a venture firm operating globally from its offices in Moscow and San Francisco, announced a €3 million investment in MariaDB Corporation, a global software vendor specializing in high availability, high performance and highly scalable open source database solutions. Headquartered in Espoo, Finland, MariaDB (also known as SkySQL) aims to become “the …

Runa Capital invests €3 million in Finnish open source database solution provider MariaDB Corp. Read More

Russia’s SBT Venture Capital leads $6.5 million round for Canadian payment technology provider Mobeewave

February 27, 2015 February 26, 2016

Earlier this month SBT Venture Capital, the venture arm of Russia’s national savings bank Sberbank, led a $6.5 million investment round for Mobeewave, a Canadian startup that develops fast and secure NFC mobile payment acceptance services. Business angels also participated in the round, but their identity has not been disclosed. Founded in 2012, Montreal-based Mobeewave presents itself as …

Russia’s SBT Venture Capital leads $6.5 million round for Canadian payment technology provider Mobeewave Read More

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