Runa Capital Makes First Investment in Russian Start-up

Russia’s newest venture capital firm, Runa Capital, has announced its first investment in a Moscow-based start-up active in the social networking arena. The investment will be USD 2 million in venture capital for OnAir3G, developers of a cutting-edge networking platform. The founder of OnAir3G , Andrey Vasilevsky, was one of the original founders of SmartCom, which Russia’s Yandex recently purchased.

Runa Capital believes OnAir3G’s inaugural product could be the next biggest thing to hit the mobile communications market, a market that continues explosive growth in Russia.

OnAir3G
OnAir3G was founded in 2010 and describes itself as still in stealth mode. The company is currently working on a social networking software platform which is voice enabled, with plans to have it ready for market by the second quarter of 2011. Further details of the company and software are being kept under wraps pending next year’s launch.

Runa Capital (www.runacap.com)
Runa Capital is a brand new venture capital firm established in August, 2010. Its main focus will be investing in technology-based of start-ups with a concentration on mobile platforms, Internet applications, virtualization, and cloud computing.

Runa Capital’s investment partners include five individuals with many years of experience in software and technology. The firm will aim for projects they deem to be capital efficient and able to be brought to market within a reasonable time frame, by utilizing a strategy of offering their expertise and guidance in support of new projects.