CrunchFund, the venture capital company founded by Michael Arrington who introduced the world to TechCrunch, may well join peers like Siguler Guff & Company, which will invest USD 250 million in a tech hub outside Moscow, Skolkovo, cited to be the Russian Silicon Valley.
Though investing is Russia is still considered a risky venture, big-name investors like Runa Capital, Mangrove Capital, DST Global and others like Yandex are already providing Russian start-ups with sorely needed funds for their early stage growth, and CrunchFund, with its initial 20mln fund, could be looking at exploiting a virgin market with tremendous potential.
16/09/2011
Central & Eastern Europe, Internet, E-Commerce & E-Services, Rumors & Speculation, Russia, USA