The European Bank of Reconstruction and Development, or EBRD, has pulled out of a planned joint investment fund with state-owned technology investment company Rusnano, after the EU clamped down on EBRD lending in Russia over Moscow’s actions in Ukraine, Rusnano CEO Anatoly Chubais was quoted as saying by ITAR-Tass on Tuesday. The EBRD, which has more than 300 active projects in Russia, froze its financing of new projects …
The European Bank of Reconstruction and Development, or EBRD, on Wednesday froze financing of new projects in Russia amid escalating international condemnation of Russia’s alleged role in the downing of a passenger jet in eastern Ukraine. “A majority of the board of directors of the EBRD, including all European Union member states and several non-EU shareholders, have given clear guidance to the EBRD management that, for the time being, they will …
As crisis deepens, EBRD freezes new investment in Russia Read More
On Thursday Russia’s hot online travel market saw its third major venture funding operation in one month as OnlineTours, a reseller of package tours, closed a $7 million Series B round. The funds were brought in by a VC consortium that includes international funds e.ventures, Global Founders Capital and Holtzbrinck Ventures as well as Russia’s …
Polish private equity fund MCI Management has teamed up with the European Bank for Reconstruction and Development (EBRD) to inject $7 million into Travelata.ru, a Russian online reseller of package tours. The amount invested by each of the two investors has not been disclosed. The funds will be used “to enhance further Travelata’s online services …
Recent political tensions and even a cold-war style warning from the FBI have not slowed the flow of Russian venture capital into US startups, nor have they stifled so far the American entrepreneurs’ appetite for these investments. In the past two months, no fewer than six publicly disclosed deals have been concluded between US based …
Far from politics, Russian money still fuels US startups Read More
Almaz Capital Partners, a major Russian venture fund, has participated in a $6.5 million round to fund If You Can, a California-based startup that uses gameplay to teach children social and emotional learning (SEL) skills. The Series A round was led by Greylock Partners with the participation of other investors. The startup had previously raised $2.8 …
Last week Da Vinci Private Equity Fund II, a Russian investment fund focused on financial infrastructure in Russia and the former Soviet Union, announced it had acquired a 63% stake in ITinvest, a major Russian online broker established in 2000. The amount of the transaction has not been disclosed, but Vladimir Kochetkov, the president of Finam, a sizable …
Da Vinci acquires majority stake in online broker ITinvest Read More
Nival, a global developer of cross-platform strategy games, announced today that it has secured $6 million from the Russian fund Almaz Capital to fuel its global expansion strategy. The valuation of this Series A round has not been disclosed. To date Nival has been financed by CEO and founder Sergey Orlovskiy, who holds a majority …
Global game developer Nival raises $6 million from Russia’s Almaz Capital Read More
The need to restructure the Russian economy has led to a variety of public policy initiatives. Whatever the official vocabulary, “innovation” is a key aspect of these policies. Therefore, a comparison with a country such as France that has implemented a very pro-active innovation policy may provide some tools of analysis. In both countries but …
Challenges for innovation policies: A comparison between France and Russia Read More
Last week, the Russian edition of Forbes released a list of 10 top Russian venture capitalists whom it identified as being “the most successful.” In the last four years, these investors have earned approximately $3.6 billion from mainly Internet-related projects. The ranking uses the same methodology as American Forbes for The Midas List, the global …
Forbes identifies Russia’s top 10 venture capitalists Read More
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 …
EBRD co-invests in leading Russian IT outsourcing company Read More
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. …
Almaz Capital invests in US big data solution provider and launches new $102 million fund Read More
