Finance

Naspers takes full control of Avito, Russia’s leading classifieds site

January 28, 2019 February 15, 2019

Naspers’s classifieds business, OLX Group, announced Friday that it took full control of Avito.ru, Russia’s number one classifieds site, boosting its stake from 70.4% to 99.6%. Among the minority shareholders exiting the company is Swedish investment firm Vostok New Ventures (VNV, previously known as Vostok Nafta Investment), which will get gross proceeds of $540 million from …

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Runa Capital invests in French and German startups

January 28, 2019 February 1, 2019

Last week Runa Capital, an international venture fund with Russian roots, announced its participation in two startup funding deals in Western Europe. As reported by Tech.eu, the fund led a €7 million funding round for Vehiculum, a German-founded startup which has developed a new car leasing marketplace. Almost simultaneously, French startup Admo announced the completion of its €6 million series …

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Russia seeks to attract Asian investors to support $900 million later-stage tech fund

January 23, 2019 January 23, 2019

RVC, the state fund-of-funds dedicated to innovation, and Da Vinci Capital, a major EBRD-backed Russian private equity firm, announced Monday the launch of a 6 billion ruble ($900 million) tech fund. While Da Vinci Capital manages the fund (christened the ‘Da Vinci Pre-IPO Tech Fund’), RVC has contributed a quarter of the capital (1.5 billion rubles). Discussions with …

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Mail.Ru Group sells SK Gaming to Mercedes-Benz, “the first car maker to invest in an eSports team”

January 22, 2019 January 22, 2019

ESforce, a major eSports company acquired in early 2018 by Mail.ru Group, has sold SK Gaming, one of its key assets, to Daimler and football club FC Köln (FC Cologne). The terms of the transaction were not disclosed, but Russian business publication RBC wrote, based on company information, that its object was a 67% stake …

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UK store data solution provider BeMyEye acquires Russian StreetBee

January 21, 2019 July 13, 2019

BeMyEye, a UK-based provider of “crowdsourced perfect store data,” has acquired StreetBee, a Russian startup that has developed fast data collection and processing solutions for retail. The terms of what seems to be an all-stock deal have not been disclosed, but an unnamed source told Russian business daily Kommersant that StreetBee’s shareholders will receive a …

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Giant US investment firm OppenheimerFunds invested again in Yandex in 2017 and 2018

January 21, 2019 January 21, 2019

Since late 2017, OppenheimerFunds, a family of major investment funds, has invested again in NASDAQ-listed Yandex, according to the latest filing submitted to the US Securities and Exchange Commission. The US investment firm reportedly boosted its stake in the Russian company from 1.8% to 6.41% or 18.365 million shares as of December 31, 2018. Yandex stock is …

Giant US investment firm OppenheimerFunds invested again in Yandex in 2017 and 2018 Read More

Russian-founded Veeam Software secures $500 million from US and Canadian investors

January 16, 2019 January 16, 2019

Veeam Software, a global leader in cloud data management software, today announced it raised $500 million from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB). The fundings will be used “to accelerate the next phase of Veeam’s growth as the number one provider of data management solutions for the public and private cloud,” according to Veeam’s …

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2018 Eastern Europe and Central Asia Tech Investment Overview

January 16, 2019 January 22, 2019

Tech investment volumes in Eastern Europe and Central Asia were modest last year, if compared with the Chinese, US or Western European markets. However, 2018 was marked by giant corporate deals involving international players while a series of smaller venture transactions illustrated the diversity of the regional startup scene. In this review, which encompasses Russia, …

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Cryptocurrency exchanges eye Russia for expansion despite sanctions

January 15, 2019 January 14, 2019

Sanctions imposed by governments as part of geopolitical struggles do not always filter through to under-regulated industries. Ambitious businesses covet every opportunity for expansion and diversification. In addition, according to a recent report, interest toward cryptocurrencies has remained relatively stable in spite of the bitcoin’s fall. These seem to be among the reasons why a …

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US-based IT giant DXC to acquire Russian-founded Luxoft for $2 billion

January 11, 2019 January 12, 2019

Earlier this week DXC Technology and Luxoft, two major, NYSE-listed IT service providers, announced a definitive agreement for DXC to acquire Luxoft. At $59.00 per share in cash, the deal represents a total equity value of approximately $2 billion, according to the press release. Still subject to customary conditions and regulatory approvals, the transaction is expected to …

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Cinemood raises $4 million from Russian and Belarusian investors

January 9, 2019 October 22, 2020

The Internet Initiatives Development Fund (IIDF, or FRII in Russian, Russia’s leading startup fund) has teamed up with the Russian-Belarusian Investment Fund (RBF Ventures) to provide 263 million rubles (roughly $4 million) in fresh funding to Russian startup Multikubik. The news was reported in late December by business daily Kommersant based on an exchange with a Multikubik representative. Also participating …

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Russian VC firm FinSight puts $25 million in Indian startup fund

January 8, 2019 January 9, 2019

Last month FinSight Ventures, a Californian VC firm belonging to leading Russian financial group FINAM, announced an investment in Indian startup fund Emphasis Ventures (EMVC). The investment amounted to $25 million, reported Russky Venture, an influential Telegram channel. “The partnership enables FinSight to have access to leading startups in rapidly growing and evolving Indian market as …

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