Finance

Skolkovo Ventures attracts over $8 million from QIWI co-founder and Russian Helicopters

October 27, 2018

After investing $17 million in Telegram’s ICO private presale this past winter, Sergey Solonin, a co-founder of payment operator Qiwi, has committed to invest 220 million rubles (roughly $3.5 million at the current exchange rate) in Skolkovo Digital, the IT fund managed by Skolkovo Ventures, Skolkovo announced on June 1. Skolkovo Digital primarily targets startups in the …

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Sberbank and National Settlement Depository to test new ICO technology

November 26, 2018

As Russia prepares to regulate ICOs and cryptocurrencies, Russia’s central bank launched this past April a “regulatory platform” to experiment and implement new financial services and technologies that require legislative changes. This platform, which involves other state institutions and industry associations, will be used in the near future to test an ICO technology. The first transactions …

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Sistema VC teams up with Alibaba Group to invest in US-based Big Data startup

May 31, 2018

Sistema VC, the venture arm of the Russian conglomerate Sistema, has taken part in a $26.4 million Series B round for SQream, a New York-headquartered startup offering a GPU database “for fast, scalable SQL analytics.” Announced on May 30, the round was led by Alibaba Group with participation from existing and new investors including Hanaco …

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Rostelecom acquires Solar Security for $23 million to create national cybersecurity center

May 29, 2018

Russia’s national telecom operator Rostelecom has acquired Solar Security, a major local tech player in the field of target monitoring and information security operational management. Rostelecom spent 1.5 billion rubles (roughly $23 million at the current exchange rate) for this acquisition, as announced last week. As part of the deal, Rostelecom’s existing information security resources, …

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Russia prepares for cryptocurrency and ICO regulation

May 25, 2018

Earlier this week the State Duma, the lower house of the Russian parliament, approved almost unanimoulsy in first reading a bill to regulate digital financial assets, including cryptocurrencies, and ICOs. According to the new law, digital financial assets are not a legal method of payment Russia. The text regards cryptocurrency and tokens as digital property, with the …

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MTS increases its share in Ozon

May 23, 2018

MTS, a leading Russian telecom operator, announced earlier this month that it increased its stake in Ozon Holdings, one of the most established Russian e-commerce companies. The operator now own 16.7% of Ozon, up  from 13.7% previously, following “a series of transactions with minority shareholders.” MTS invested in Ozon in April 2014, acquiring a 10.8% …

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Sistema VC leads $2.5 million round for US-Russian startup TraceAir

May 21, 2018

Sistema VC, the venture arm of the Russian conglomerate Sistema, led a $2.5 million pre-A round for TraceAir, a US-Russian startup which develops construction automation solutions, the fund announced last week. Other participants in the round include US companies Engeo, a provider of geotechnical and environmental services, and Independent Construction Co., which owns “one of the …

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Alfa Bank invests in CardsMobile to “fully correspond to the digital future”

May 16, 2018

CardsMobile, a developer of contactless payment solutions, including mobile app ‘The Wallet,’ has raised an undisclosed amount in investment from Alfa Bank, a leading Russian commercial bank, in exchange for a 25% stake. The funding will be used to develop further the app, which allows consumers to save all their loyalty, bank and transport cards in …

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Russian state-backed fund wants to tokenize Siberian diamonds, gold and gas

May 15, 2018

The Far East Development Fund, which is full owned by state development bank Vnesheconombank (VEB), has partnered with Singapore-based Diamundi to launch of a new cryptocurrency, the ‘D1 Coin,’ backed by Siberian diamonds. Diamonds are a traditionally illiquid asset class, but their tokenization means that anyone will be able to buy, own and sell a fractional …

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Impulse VC leads $8 million round for Russian-founded Appodeal

May 3, 2018

In late April Appodeal raised $8 million in a round led by Impulse VC, a venture fund which is reportedly affiliated to Russian billionaire Roman Abramovich. This investment brings the total funding raised to date by the startup to $11.5 million, according to CrunchBase. As part of the deal, the fund has received a minority stake in …

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Telegram calls off public token sale after raising $1.7 billion in private pre-sale

May 7, 2018

The popular messaging app brought in so much money from a small group of private investors that it is calling off a planned sale of cryptocurrency to the wider investing public, according to a person familiar with the matter. Telegram Group Inc. has pulled in $1.7 billion by selling newly created cryptocurrency to fewer than …

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Targeted by sanctions, Viktor Vekselberg becomes toxic figure on the US financial market

May 3, 2018

Russian billionaire Viktor Vekselberg, who controls conglomerate Renova and heads the Skolkovo Foundation, is one of the 24 Russian businessmen targeted by the new wave of US anti-Russian sanctions announced last month. Thus, Vekselberg may have become a “toxic” figure for Western funds or companies. As revealed last week by The Bell, a Russian online business …

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