InVenture Partners, a venture firm with Russian roots whose portfolio includes taxi booking app Gett, is launching a second, $150 million fund.
The new fund is currently raising money from undisclosed limited partners, with 10% of the capital being contributed by Inventure’s managing partners Sergey Azatyan and Anton Inshutin.
Inventure Partners II will support consumer Internet projects, said Azatyan in an exchange with Russian business daily Vedomosti. The geography is the same as that of the first fund, encompassing Israel, Russia, Germany and the UK.
InVenture Partners I has invested its $100-million capital in 14 companies, according to CrunchBase. Among them are Gett, formerly known as Gettaxi, in which the fund invested in 2012. InVenture sold a part of its stake to Volkswagen in May 2016, Azatyan told Vedomosti, earning “dozens of millions of US dollars” from the deal.
In May this year, the acquisition of Fogg — in which the fund had injected €7 million — by GlobeTouch came as another successful exit, said Azatyan, who claims that the annual internal rate of return (IRR) of Inventure Partners I reached 38%.
Among the other portfolio companies of Inventure Partners I are the US telemedicine startup American Well, Russian retail analytics startup CrowdSystems, e-learning platform Netology and mobile payment service 2can, as well as Russo-Ukrainian bus-ticket software developer Gillbus.
