AddVenture, one of the most dynamic Russian venture funds, has announced a new fund, AddVenture III.

The fund has already raised $7 million “but since it is structured as a corporate vehicle, it could amount up to $50 million in the next two to three years,” Maxim Medvedev, one of the founders, told EWDN.

AddVenture III plans to invest in up to 10 projects in the fields of e-commerce, Web services, mobile applications, and SAAS projects until mid-2012.

While the first AddVenture funds focused on early stage investments, the new fund will privilege more mature projects.

Founded in 2008 and 2009 respectively, AddVenture I and II invested $1 million in 11 projects, including Pixonic, a developer of social applications; Insales, a publisher of e-commerce solutions; AlterGeo, a location-based service inspired by Foursquare; EasyFinance.ru, a clone of Mint.com; and Roomix, the developer of a 3D visualization technology applied to furniture.

While Pixonic quickly became a leading player in its field, with some of its applications on Russian social networks ranked among the most popular, Roomix recently closed.

You may also like

The Apple website in Russia, now features an Apple Online Store, and Russian consumers will be able to purchase Apple devices directly from the company’s website. Any Apple device can be bought from the store, including the iPhone 5, which starts at 29,990 rubles ($909). Online customers can pay by bank card online or pay […]
Read More
Newly registered in the Netherlands, Svyaznoy NV has emerged as the owner of a 99.99% stake in the Svyaznoy Group of Companies CJSC, reported Russian business daily Vedomosti. Svyaznoy NV only controls the retail business of Svyaznoy, currently Russia’s second leading mobile phone retailer after Euroset. Other Svyaznoy assets, including a bank and a retail […]
Read More
0 comments

Trackbacks

  1. […] The Russian entrepreneurs who launched Run Capital – Sergei Fedyushchenko, Igor Mikhailov, Andrei Muravyov, Andrei Romanenko and Nikolai Romanenko – are all linked to Qiwi. With the exception of Muravyov, these businessmen are also involved in the Moscow based funds iTech Capital – another initiative of Romanenko in 2011 – and AddVenture III. […]

  2. […] The Russian entrepreneurs who launched Run Capital — Sergei Fedyushchenko, Igor Mikhailov, Andrei Muravyov, Andrei Romanenko, and Nikolai Romanenko — are all linked to Qiwi. With the exception of Muravyov, these businessmen are also involved in the Moscow based funds iTech Capital — another initiative of Romanenko in 2011 — and AddVenture III. […]

  3. […] The Russian entrepreneurs who launched Run Capital — Sergei Fedyushchenko, Igor Mikhailov, Andrei Muravyov, Andrei Romanenko, and Nikolai Romanenko — are all linked to Qiwi. With the exception of Muravyov, these businessmen are also involved in the Moscow based funds iTech Capital — another initiative of Romanenko in 2011 — and AddVenture III. […]

  4. […] The Russian entrepreneurs who launched Run Capital — Sergei Fedyushchenko, Igor Mikhailov, Andrei Muravyov, Andrei Romanenko, and Nikolai Romanenko — are all linked to Qiwi. With the exception of Muravyov, these businessmen are also involved in the Moscow based funds iTech Capital — another initiative of Romanenko in 2011 — and AddVenture III. […]