Venture / Private equity

Russian bank and regional authorities team up to support Siberian innovators

August 8, 2013

Innovative entrepreneurs in Siberia’s Krasnoyarsk region can now receive financial support from MSB, a new venture fund opened by Promsvyazbank, a major Russian bank, according to the Krasnoyarsk regional authorities. The region and the bank reached an agreement on project funding in late July during the TIM Biryusa interregional educational forum for innovative youth held …

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iTech Capital invests in SEM agency iContext

August 5, 2013

Russian venture fund iTech Capital announced last week its investment in iConText, a leading independent provider of search engine marketing (SEM) services. The transaction amount has not been disclosed, but the fund stated that it acquired “more than 25%” of the company. Founded in 2002, iConText focuses on pay-per-click (PPC) campaigns. Among its 650 clients …

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Cross-border sales operator Bay.ru secures $4 million

August 5, 2013

In late July, Bay.ru (Bayru), a leading cross border sales operator facilitating Russian consumers’ purchases from eBay, Amazon, and other international e-commerce sites, announced that it had raised $4 million to strengthen its marketing and fulfillment capacities. The funds were brought in by existing and new investors from the US, Europe, and Asia. Neither the …

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Moscow Seed Fund and Softline invest in innovative IaaS platform

August 2, 2013

Moscow-based IT service provider Active Cloud Development has teamed up with Moscow Seed Fund and Softline Venture Partners to develop an innovative IaaS (infrastructure as a service) platform christened “CloudBox.” The three partners have brought in $1 million to finance the project. Designed for data centers, mobile operators, and government organizations, the platform is described …

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Belgorod region teams up with federal fund to support local innovation

July 31, 2013

The government of the Belgorod region in Central Russia is ready to co-fund the 12 best technology projects developed by scientists from Belgorod State University and Belgorod Shukhov State Technical University, the region’s two leading higher education centers, regional portal Belru.rf reported earlier this month. In addition to about $6,600 from regional coffers, the Russian Fund for …

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Media3 acquires realty classifieds site Cian.ru with leadership ambitions

July 29, 2013

A few months after the merger of Avito,ru, Olx.ru, and Slando.ru, which have formed Russia’s leading online classifieds company, market consolidation continues with Media3’s acquisition of Cian.ru. A major Russian media publishing, commercial printing, and distribution group, Media3 plans to merge Cian.ru and Dmir.ru, a sizable classifieds group with seven thematic platforms – including real …

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Kaliningrad’s GS Group unveils new venture arm for high-tech investment

July 29, 2013

GS Group, a privately-held international holding based in Kaliningrad, Russia’s westernmost enclave bordering Poland and Lithuania, announced earlier this month plans to support entrepreneurial innovators and start-up teams at all stages of project development. GS Venture, GS Group’s new venture arm, is expected to invest anywhere between $15,000 and $9,000,000 per project. From now to the end …

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Californian startup raises $700,000 to put an end to “résumé spam”

July 23, 2013

Investing in US startups has become a habit for certain Russian venture funds, as shown by a recent $700,000 capital injection into California-based Venturocket.com, an innovative online “talent discovery platform.” The round was led by Runa Capital, a venture fund with offices in Moscow and California, with the participation of Talent Equity Ventures, the venture arm of a Russian …

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Startup Picnic: The must-attend summer event for Moscow’s startup community

July 22, 2013

This Saturday, the “Startup Picnic” entrepreneurial festival will bring together investors, business angels, representatives of development institutions, and leading business coaches, as well as existing entrepreneurs, in partnership with East-West Digital News. The program will include a variety of educational seminars and master classes on topics such as project presentation, business modeling, business process optimization, …

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Candy magnate Korkunov invests in mobile app community expecting mobile banking revolution

July 19, 2013

Andrey Korkunov, the founder of a leading candy company, has invested $1 million in Apps4all in exchange for a 15% stake, the Russian business daily Vedmosti reported yesterday. Launched in 2011, Apps4all brings together a community of mobile app developers with a variety of media, event, training, research, and advertising activities. The startup – which …

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Short video making startup Coub.com raises $1 million from Phenomen Ventures and Brothers Ventures

July 18, 2013

Coub.com, a Moscow-based startup launched last year, has just raised $1 million in a Series A round from Phenomen Ventures and Brother Ventures, two emerging Russian funds operating internationally. The startup’s valuation has not been disclosed, but the funds told East-West Digital News they received a minority stake in return for their investments. Coub is …

Short video making startup Coub.com raises $1 million from Phenomen Ventures and Brothers Ventures Read More

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