Venture / Private equity

Moscow City launches investor-friendly startup incubator

September 5, 2013

In late August, the Moscow Innovation Development Center (IDC), an agency established last year by the Moscow government to foster high tech sectors in the capital, launched its first incubator, christened “API Moscow.” Located in Digital October, a major tech event venue in Moscow’s center, the incubator already hosts no fewer than 30 startups, providing them with infrastructure …

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Russian Innovation Week Conference to boost business cooperation between Russia and the U.S.

September 4, 2013

MENLO PARK, Calif. – The second annual Russian Innovation Week Conference will bring together Russian and American government representatives, business leaders, venture capitalists and entrepreneurs in the technology sector to explore investment opportunities and build strategic partnerships. This year’s events will take place on September 17 in Boston and on September 19-20 in California’s Silicon …

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Russia’s Life.SREDA invests in US startup to build “world’s first cardless bank”

November 19, 2014

The Russian venture fund Life.SREDA revealed last week a $2 million investment in Moven, a three-year-old New York-based banking startup. Moven’s CEO and founder Brett King hopes that the deal, which took place in July, will help his company further upgrade what he calls a “world-class mobile solution to the problem of the next-generation bank account.” In an …

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Personal service aggregator Eruditor raises $12 million from Intel Capital, Frontier Ventures, and Runa Capital

August 30, 2013

Eruditor, a startup that helps users find hairdressers, fitness instructors, plumbers, or doctors via specialized service marketplaces, has just raised $12 million at an undisclosed valuation from Intel Capital, Frontier Ventures, and Runa Capital. The Moscow-based startup claims to have served 400,000 users since its launch in 2007 and provided more than 100,000 professionals with …

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EBRD co-invests in leading Russian IT outsourcing company

November 19, 2014

Earlier this week the European Bank for Reconstruction and Development (EBRD), the Russian Direct Investment Fund (RDIF), and the Capman Russia II Fund announced a $100 million investment in Maykor, a leading Russian IT outsourcing company. The RDIF led the effort with 50% of the total investment, while the EBRD and Capman each contributed $25 …

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Qiwi announces first venture investment deals and an enlarged investment focus

August 26, 2013

Leading Russian payment company Qiwi, which launched an in-house venture activity in early 2013, announced earlier this month its first investment. The group invested in Carbay.ru, a web and mobile service created in May of this year to help professional car dealerships place classifieds on a variety of third-party online resources, including social networks. “Not only …

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Moscow investors pump $330,000 into Agelon’s high-tech marketing tool

August 12, 2013

Agelon, an online Russian research service for high-precision marketing surveys, announced last month that it has raised 11 million rubles (about $330,000) in its most recent round of funding led by the Moscow Seed Fund, the City of Moscow’s venture investment arm. The other member of the investor consortium is the Innovation Laboratory, a Moscow-based …

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Almaz Capital invests in US big data solution provider and launches new $102 million fund

August 9, 2013

Almaz Capital Partners, one of the most established Russian venture funds, has discretely launched a second fund with $102 million under management. No noisy announcement was made, but the news was reported in late July by the financial press and the fund’s Crunchbase page has been updated correspondingly. “Our first fund has exhausted its capital. …

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Onetwotrip acquires US hotel booking startup DealAngel, Bright Capital celebrates first exit

August 9, 2013

Moscow-based online flight ticket retailer Onetwotrip.com, one of the fastest growing startups on the Russian scene, has fully acquired DealAngel, a startup that has developed an advanced hotel booking technology. The news, revealed earlier this week by the Russian business daily Vedmosti, was confirmed to East-West Digital News by Onetwotrip’s founder and CEO Peter Kutis.

Russian-US PE fund Russia Partners acquires minority stake in Banki.ru

November 19, 2014

A minority stake in Banki.ru, one of the largest B2C banking portals on the Russian-language Internet, has changed hands. Finam Global, a Moscow-based investment fund, sold it earlier this month to Russia Partners Technologies, a high tech focused fund run by Russia Partners. Philipp Ilyin-Adaev, the founder and CEO of Banki.ru, hopes that the involvement …

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Rostelecom sets up venture project department

August 8, 2013

Earlier this week Rostelecom, Russia’s national telecom operator, announced the creation of its own “Venture Project Department.” The new department will focus on “search, screening, packaging, and test introduction of new products that are complementary to the firm’s core services.” Its primary goal is a substantial extension of Rostelecom’s product line by adding advanced services …

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