Siguler Guff‘s Russian investment arm, Russia Partners is close to acquring a large stake in the leading Russian online shopping club KupiVIP.ru. The private equity firm Russia Partners is completing negotiations to purchase a 20 percent stake in KupiVIP for $40 million, according to newspaper RBC Daily, thus implying KupiVIP valuation of $200 million. The new funds will be invested into KupiVIP‘s logistics.
Founded in 2008, KupiVIP.ru has some 3 million members (up from 1.3 million in January 2010). KupiVIP.ru, which was founded by Oskar Hartmann, offers flash sales of branded goods and clothes with a signficant discount to regsitered club members. The company raised over $31 million in several rounds of venture capital funding from Accel Partners, Mangrove Capital, ABRT and Arlan as well as several European ‘angel’ investors Oliver Jung and Klaus Hommels. The leading European early-stage venture capital investor Mangrove Capital Partners also invested in German shopping club brands4friends that was acquired by eBay in December 2010.
In 2010, Russia Partners invested in virtualization software company Parallels.
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