Venture / Private equity

Flint Capital and Prostor Capital invest $3 million in online financial services

November 29, 2013

Prostor Capital and Flint Capital have invested $3 million in equal shares in Federal Finance Group, a group of companies developing online financial services. The terms of the deal have not been disclosed. The group, founded in October 2010, has been backed so far by Russian financial services company Finam, PR director Ekaterina Prikhodko told East-West …

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Government fund of funds RVC celebrates birth of domestic venture industry, recognizes disbalances and need for further global integration

November 28, 2013

Last week RVC (formerly known as Russian Venture Company) presented its updated development strategy for the coming years. The state-owned fund of funds, whose mission is to support venture activity and stimulate innovation in the country, considers that Russia’s venture market “has established itself” after three or four years of accelerated growth. Virtually non-existent a …

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Russian Internet Technology Fund invests $1.7 million in Swiss online headhunting service Talentory.com

November 25, 2013

The Russian Internet Technology Fund (RITF) announced last week that it has injected CHF 1.5 million ($1.7 million) in Zurich-based Talentory AG, the operator of online headhunting platform Talentory.com, in exchange for “a substantial minority stake.” The Talentory platform allows corporations to address and source the entire market of professional recruiting firms and find relevant …

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Rusnano ponies up $10 million to bring home sophisticated Israeli router technology

November 19, 2014

Earlier this week Rusnano, Russia’s nanotech giant with strong vested interests in overseas tech projects, bought into Compass-EOS, an Israeli start-up shipping a silicon photonics-based router. Joining a large international investor consortium in Compass-EOS’ overall $42 million funding round, Rusnano contributed up $10 million, of which $3 million is expected to finance the setup of …

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New venture fund 101 Startup invests in news aggregator Anews.ru and entertainment portal Fishki.net

November 19, 2013

101StartUp, a Russian Internet fund launched recently, has invested $1.2 million in Fishki.net, a user-generated comedic content website, in exchange for a 25% stake. The news was reported last week by Venture-News.ru based on an interview with Mikhail Gurevich, one of the fund’s managers and an existing Fishki shareholder. The site will use investor money to …

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Global cloud ERP vendor Acumatica secures $10 million from Runa Capital and Almaz Capital

November 19, 2013

Acumatica, a provider of cloud-based ERP solutions for SMBs, announced yesterday that it has raised $10 million in a Series C funding round led by Runa Capital and Almaz Capital, two Moscow-headquartered venture funds operating internationally. Almaz had already taken part in the startup’s first round back in 2009, while another round took place in …

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Finnish retail analytics startup raises €3 million from Sberbank’s venture arm

November 18, 2013

Last week, Walkbase, a marketing optimization platform for brick & mortar retailers, announced a €3 million Series A round investment led by SBT Venture Capital, the venture arm of the Russian national savings bank Sberbank. Olli-Pekka Kallasvuo, former CEO of Nokia, also participated in the round. Walkbase will invest the funds in “strengthening its sales, …

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Igor Ryabenkiy’s Altair injects additional funds in contextual ad solution provider Alytics

November 18, 2013

Altair, the venture fund of serial business angel Igor Ryabenkiy, has invested an undisclosed amount in Alytics, a startup developing contextual ad solutions to optimize conversion rates. The investment comes a mere eight months after Ryabenkiy co-invested with the Moscow Seed Fund in the startup at the seed stage. The initial funding has been used …

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New fund to turn Ukraine’s e-commerce potential into scalable reality

November 15, 2013

Earlier this month, the Moscow-based management company Flint Management launched a venture fund dedicating to developing e-commerce in Ukraine. This move comes just weeks after the company announced the creation of Flint Capital, a $35 million fund with a large high tech investment focus in Russia and Ukraine. Christened ‘Bull Ventures,’ the new fund has …

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US peer-to-peer lender LendingClub said to reach $2.3 billion valuation in DST funding

November 13, 2013

LendingClub Corp., the largest U.S. peer-to-peer lender, received a $57 million investment from Yuri Milner’s DST Global and Coatue Management LLC as the company nears an initial public offering. The transaction values LendingClub at $2.3 billion, said two people with knowledge of the deal, who asked not to be identified because the valuation is private. …

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From mobile ads to motion recognition, Microsoft Seed Fund keeps backing Russian startups

November 19, 2014

The Microsoft Russia Seed Fund has recently disbursed $140,000 in grants to four Russian startups, bringing the total number of young Russian tech companies it has backed to 35. Last week, Moscow’s AdWired received $50,000 to continue developing its mobile advertising platform. Minutta, a service from Orel, in Central Russia, which has been developing an …

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Hot Russian mobile advertising market attracts domestic and international investors

November 11, 2013

Russia’s vibrant mobile advertising scene has seen two major moves in the last few weeks with the launch of ad network AdCamp by Pult Group and IMHO Vi and the announcement of a $3 million investment in mobile RTB platform AdMoment by two venture funds. “As digital devices tend to converge, mobile increasingly dominates our …

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