Softline Venture Partners told East-West Digital News that it has just invested $500,000 in Apps4all, a company that carries a community of Russian mobile app developers with a variety of media, event, training, research and advertising activities. The terms of the deal were not disclosed.

A $20 million fund, Softline Venture Partners is the venture arm of Softline, a leader in the Russian software licensing market. The fund typically invests in the range of $100,000-$1 million.

Apps4all comes as the fund’s first investment in mobile. Last year, Softline Venture Partners invested in social commerce app developer Magazinga (previously known as Emegamall), and Copiny, a developer of Saas-based social CRM solutions. The fund’s portfolio also includes Tekmi, Mirapolis, ActiveCloud, Daripodarki, Client24 and cloud platform NiMBLE.

You may also like

Yesterday Ozon Holdings, one of Russia’s most established e-commerce players, announced that it acquired a stake in LitRes, the leader in Russia’s fast growing – though still embryonic – domestic e-book market. Neither the size of the stake nor the amount of the transaction has been disclosed. Ozon presented the deal as a way “to further […]
Read More
Illustrating the relative resilience of the Russian e-commerce market amid the current economic turmoil, leading flash sales platform reported a 44% revenue increase year-on-year in Q4 2014. The company attributes this growth to consumers switching from traditional and online retail to discount-based sites. Sales also grew due to the development of the site’s cross-border […]
Read More