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Files under: News, Tech
Posted by: Quintura @ 14:08 [4. 07. 08]
 The venture capital fund, Almaz Capital Russia Fund I, which is focused on technology, media and communications startups from Russia and managed by Almaz Capital Partners, has held the first closing of $60 million out of targeted $125 million. The networking global leader, Cisco, announced it became an anchor investor into the fund to be informally called Almaz Capital / Cisco Fund I.
Managing Partner of Almaz Capital Partners, Alexander “Sasha” Galitsky, said in his interview to RBC Daily that Cisco committed $30 million to the fund. The other investors included UFG and private individuals. According to Sasha Galitsky, the fund intends to obtain at least 20% stake in a start-up company and invest, on average, $10 million into each company with an investment lifetime of 5 years. The fund seeks to invest into “product” companies with first three investment deals to be closed shortly.
The other Managing Partner of Almaz Capital Partners is Peter Loukianoff who’s Partner at Alloy Ventures and together with Sasha Galitsky sits on Advisory Board of AmBAR (American Business Association of Russian Professionals).
Cisco previously co-invested together with Holtzbrinck and Index Ventures in a $18 million round in the leading Russian online shop, Ozon in April 2007. Cisco‘s Eastern European Fund, 3TS Cisco Fund that recently co-invested in online shop, Internet Mall, in Czech Republic is managed by 3TS Capital Partners.
Tags: Alexander Galitsky, Almaz Capital Cisco Fund, Almaz Capital Partners, Almaz Capital Russia Fund, AmBAR, Peter Loukianoff, Sasha Galitsky
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