EPAM Systems, a global software development company with delivery centres across the Central and Eastern Europe region, announced the launch of its initial public offering. The company plans to offer 7,400,000 shares of its common stock at a price range of between USD16 and USD18 per share. Existing shareholders will sell about 5,882,353 shares while [...]
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Sun Network Chief Joins Vyatta Board To Boost Cloud Business
Networking vendor Vyatta has recently added to its board of directors Sun Microsystems ex-Chief Networking Officer Geoffrey Baehr. The move is assumed to be part of their strategy to enhance their cloud business, which is one of their three offerings to clients – cloud, physical and virtual networking. Baehr was formerly with Sun Microsystems for [...]
Russian internet group announces launch of new microblogging site Futubra
Mail.ru Group – the LSE-listed Russian internet company, has launched Futubra – a microblogging site that aims to rival current market leader Twitter. Though touted as the ‘Russian Twitter’ by some, with easily accessible users’ content and multimedia content sharing features, Futubra resembles Tumblr more. The site however, boasts of more advanced news group and [...]
Bortnik Fund To Back 500 Start Up Companies This Year
The Russian state-owned Bortnik fund will support up to 500 start-up ventures during the year 2012. The fund will provide a seed amount of up to USD 200,000 in financial support to companies during their first three years. The list of companies will be decided upon using the vehicle of a series of competitions dubbed [...]
Russian billionaire co-invests in US startup
Russian billionaire Yuri Milner has co-invested USD 1.4 million in US based technology startup company Flotype. Milner along with Andreessen Horowitz, Salesforce, Ignition Partners and Y Combinator provided the seed capital to the startup that offers a suite of technologies for real-time communication between any platform and any device.
EBRD To Own 15 Percent In Katren Russia Pharma Major
In a further move to strengthen its presence in the Russian pharmaceutical sector, the European Bank for Reconstruction and Development will take on a 15 percent (minority) stake in OJSC Katren Russia a privately held company operating pharmaceutical distribution and retail chains in Russia. The funds will be used to upgrade and expand Katren’s warehousing infrastructure [...]
Russian daily deal site Biglion secures USD 25 million in funding
Russian daily deal site Biglion has secured about USD 25 million in funding from prominent public and private equity investment firm Tiger Global Management. Launched in March 2010, Biglion is the leader in the domestic coupon market and has 7 million users with annual sales exceeding USD 150 million. The firm had received the first [...]
Carcade took RUB 600 million loan from EBRD
A leading, privately owned Russian car and vehicle leasing company, Carcade, seems to be out of the crisis, thanks to their recently signed four-year loan agreement with EBRD. According to the agreement Carcade will receive a RUB 600 million loan which could help the company to extend its leases on light trucks and cars for [...]
Russian RTP Ventures Picks up Stakes in US Firms
Russian venture capital RTP Ventures made investments in four US based companies in the last two months, including two series-A funding and two seed investments. RTP is the US subsidiary of Russian venture fund Ru-net and typically invests between $1 million and $10 million in target companies. Gridgain – developer of middleware application for Real [...]
Quest.li Raises New Funding From Redalpine
Russia based Quest.li has secured new funding from Redalpine Capital I and other private investors. The Zurich based venture fund had already led Quest.li’s first seedround in early 2011. Quest.li (questli.com) Quest.li was founded by CEO Danila Kozyatnikov in April 2011 with the seed funding of CHF 200,000 provided by Redalpine. Quest. li [...]
Russian Start-Up Shopping Cart Developer Ecwid Raises $1.5 mln
Russian software developer Qualiteam, whose product, Ecwid, a software which lets users set up an online shopping cart on their site in minutes, has garnered its first round of institutional funding from Runa Capital to the tune of USD 1.5 mln. With the capital infusion, the company will open an office in Mountain View, California, [...]
RusHydro secures 8 billion ruble loan from EBRD
The European Bank for Reconstruction and Development (EBRD) has approved a 10-year loan to state controlled power company RusHydro. The 8 billion (€192 million) ruble loan will enable OJSC Energy Systems of the Far East (ESV), a RusHydro subsidiary, to refinance its short-term debt as part of a major corporate restructuring exercise that includes separating [...]
SPB Software Acquired By Russian Search Giant Yandex
Russian search engine giant Yandex has acquired all assets of mobile applications developer SPB Software for USD 40 mln. Though millions of people use SPB products around the world, Yandex’s main point of interest is their proprietary Shell 3D user interface for mobile phones. Yandex is looking to integrate its cloud technology and services into [...]
DST Global Russia Looks To Invest In Indian Internet Companies
Russia’s top internet fund DST Global is looking towards Indian internet firms after a successful foray into similar Chinese companies this year. After opening their Hong Kong office this year, they’ve already invested in the retail-oriented 360buy.com and B2B trade portal alibaba.com in China. DST Global has now expressed its interest in investing in Mumbai-based [...]
Heverest.ru Attracts Additional $1.3 mln In Expansion Funding
Russian start-up online sporting goods, leisure and travel products retailer Heverest.ru has roped in an additional round of funding worth USD 1.3 mln from Rollingahead and eVenture Capital Partners. This round of investments will be used to expand its offered product range, enhance customer service capabilities and market the site to attract additional traffic. A [...]
Rusnano leads Selecta Biotech series D funding
Rusnano, the Russian Federation’s USD 10 bln fund, is leading the field in the D series fund-raising for Selecta Biotech. The biopharmaceutical company will use the USD 22 mln round of funding to develop its research and development facilities, and expand the reach of its synthetic vaccine particle. An additional funding of USD 25 mln [...]
£518 mln to be raised by PPF from Polymetal for LSE listing
Italian insurance company Generali’s buyout offspring PPF is seeking to raise GBP 518 million from Russian precious metal mining group Polymetal. Polymetal is rumored to be eyeing a spot on FTSE 100 as well as a full listing on the coveted LSE. The company plans to issue 50 mln shares in the price range of GBP 9.10 [...]
Deutsche Bank to Acquire 100% Stake in Russian Joint Venture
Deutsche UFG Capital Management – the Russian joint-venture between Deutsche Bank AG and UFG Asset Management Ltd. – will be fully acquired by Germany’s flagship lender. The JV was formed in 2008 when Deutsche Bank had picked up a 40 percent stake in UFG Invest – the asset management arm of the Russian wealth manager.
VTB Capital to Start USD 1 billion Agriculture Fund
VTB Capital – the investment banking arm of the Russian VTB Group, is planning a USD 1 billion agriculture fund. The initial tranche of USD 250 million would be ready by the first quarter of 2012. The fund will invest in all kind of agriculture assets, including lands and processing companies, and will focus on [...]
CapMan Russia Acquires 29% Stake in Lumex
Lumex Instruments, a leading Russian analytical and instrumentation company, has sold 29% stake to CapMan Russia. CapMan Russia plans to hike its shareholdings to 44 per cent by next year while Lumex promoters will continue to hold the remaining shares. CapMan has a track-record of backing successful Russian companies and Lumex hopes to leverage its [...]
