InVenture Partners invests $5 million in US telemedicine startup American Well

InVenture Partners, a venture fund with Russian origins which invested in taxi booking app Gettaxi and in a range of Russian startups, has invested $5 million telemedicine startup American Well. This Boston, USA-based company uses mobile and web technology to “improve access to quality care, removing barriers such as distance, mobility, and time.”

The fund received a minority stake in the US company, a source close to the deal told Russian business daily Kommersant. No other details of the deal have been disclosed.

American Well’s service connects doctors with patients for live, on-demand video visits over the Internet and handles all the required administration, security, and record keeping.

InVenture Partners’ move comes as yet another illustration of the invest-abroad trend among Russian investors. The Russian market has lost much of its appeal for investors, InVenture believes, due to a lack of Series B funding and exit options combined with an unstable political and business environment.

Topics: E-health, Finance, International, Venture / Private equity
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