The Russian venture capital fund Atlanta Start, which focuses on early-stage Internet ventures and is managed by IQ One company, has acquired a 25.1% stake in Blogoved (Блоговед), which publishes the leading Russian tech blog, Internetno.net (Интернетные Штучки) for $0.4 million (11 million Russian rubles).
Founded in 2006, Internetno.net has more than 11,000 RSS subscribers and 5,000 daily visitors. The blog runs a weekly podcast with 2,500 users. The funds will be invested into launch of recommendation service in October 2009 as well as expansion of site content into newswire, web video cast, internet radio, and venture database.
Internetno.net develops its content offerings by following the leading global tech blogs, TechCrunch, Mashable and ReadWriteWeb.
Atlanta previously invested in online football game Fabrika Futbola and plans to invest in five other Internet ventures in the near future.