Search Results for: ebrd

Russian state institutions join forces to create new energy venture fund

May 7, 2019

In an attempt to lower Russia’s reliance on foreign technology in the oil industry, four state-controlled institutions have teamed up to  launch a new venture fund called ‘New Industry Ventures.’  These institutions are Gazprom Neft, one of Russia’s leading oil companies, Gazprombank, a financial arm of the state-controlled energy giant, RVC, the state fund of …

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Russia seeks to attract Asian investors to support $900 million later-stage tech fund

January 23, 2019

RVC, the state fund-of-funds dedicated to innovation, and Da Vinci Capital, a major EBRD-backed Russian private equity firm, announced Monday the launch of a 6 billion ruble ($900 million) tech fund. While Da Vinci Capital manages the fund (christened the ‘Da Vinci Pre-IPO Tech Fund’), RVC has contributed a quarter of the capital (1.5 billion rubles). Discussions with …

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Da Vinci Capital invests in DataArt, a global tech consultancy with roots in Eastern Europe

November 13, 2018

Da Vinci Capital, a major EBRD-backed Russian private equity firm, has invested an undisclosed amount in DataArt in exchange for “a substantial, non-controlling interest” in the company. Founded in 1997, DataArt is a New York City-headquartered company with roots and R&D teams in Ukraine and Russia. It has become a major global tech consultancy that designs …

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Israeli VC integrator Prytek gains support from Igor Rybakov and Da Vinci Capital to develop activities in Russia

April 20, 2018

Prytek, a firm that invests in tech startups and distributes their solutions in emerging markets, is strengthening its activities in Russia. The Israeli-headquartered company, which began commercializing the solutions of its portfolio companies on the Russian market in late 2017, will now also invest substantial amounts (around $2 million per deal) in local startups. This …

Israeli VC integrator Prytek gains support from Igor Rybakov and Da Vinci Capital to develop activities in Russia Read More

Sasha Galitsky: “The strengths and weaknesses of Eastern Europe in the field of technology are related in part to its communist past”

February 27, 2018

Alexander “Sasha” Galitsky, Ph. D., is co-founder and managing partner at Almaz Capital Partners, one of the most prominent international funds with roots in Eastern Europe. This interview is an excerpt from “Startup Investment & Innovation in Emerging Europe,” a research study just released by East-West Digital News.   Which technologies are CEE startups strongest …

Sasha Galitsky: “The strengths and weaknesses of Eastern Europe in the field of technology are related in part to its communist past” Read More

How Russian universities can become more innovative and entrepreneurial

December 6, 2018

A figure of the innovation scene in Russia, where he has lived for more than 20 years, US investor Kendrick White shares  his vision of the innovation potential of Russian universities and the challenges related to its translation into market-oriented products. Although Russia has a great scientific tradition, it has a long history of failing …

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EBRD shareholders reject Russian challenge to funding freeze

May 11, 2017

As reported earlier this week by Bloomberg, the European Bank for Reconstruction and Development (EBRD) confirmed once again that it will not to resume operations in Russia in the foreseeable future. As the EBRD’s board met Wednesday in Cyprus, the Russian economy minister, Maxim Oreshkin, questioned the legitimacy of the 2014 decision to freeze new investment projects in Russia, arguing …

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Rusnano prepares to launch Russian-Arabic tech fund

March 28, 2017

Rusnano is considering to launch a Russian-Arabic direct investment fund, business daily Vedomosti wrote last week, confirming earlier reports. The Russian state-owned nanotech giant has already identified a group of potential investors from the Middle East, Lyubov Timofeeva, Senior Analyst at Business Strategy Department at Rusnano, told the business daily. Vedomosti has learned from an …

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High tech lender ID Finance secures $50 million to expand across Latin America

February 21, 2017

ID Finance, a Barcelona-headquartered company with Russian roots, has just secured $50 million in debt funding to fuel its expansion across Latin America. The funding includes $15 million from TKB, a Russian bank which is supported by the EBRD and the IFC, among other backers. After several years of operations in Russian-speaking countries, Spain and Poland, ID Finance launched its online …

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Rusnano in discussions with Asian and Middle-Eastern investors to launch new tech funds

January 11, 2017

Rusnano, Russia’s nanotech giant, aims to create two new investment funds in the first half of this year. The state-owned corporation is holding talks with potential co-investors from China and the Middle-East, said its executive director Boris Podolsky in an interview with news agency Prime in late December. The cooperation may involve Japanese institutional investors as well, …

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EBRD will not resume funding for Russian projects in 2017

October 25, 2016

The London-based European Bank for Reconstruction and Development (EBRD) has finally decided not to resume operations in Russia next year. The matter had been discussed internally during the summer, as the profitability of the EBRD’s Russian projects was found to be higher than the average, while the state of mind of some of the bank’s shareholders …

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EBRD might resume activity in Russia next year

September 29, 2016

The London-based European Bank for Reconstruction and Development (EBRD) is considering to resume operations in Russia starting from next year, according local media reports. The bank’s shareholders might take their decision (positive or negative) in December or January, online publication Gazeta.ru wrote last week, referring to “an unnamed source close to the bank.” Contacted by …

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