Runa Capital, the early-stage venture capital firm of Serguei Beloussov, and Yandex, Russia’s leading search engine company have agreed together invest in ten Russian internet startups of InCube Accelerator business incubation program in Moscow.
Runa Capital and Yandex will provide $20,000 in pre-seed money to InCube-incubated start-ups in exchange for a 10% equity stake in the companies. Runa and Yandex will each invest $10,000 in ten start-ups from InCube Accelerator in internet and mobile services as well as in e-commerce and SaaS. The start-up teams of 2-3 persons could apply until September 6 in order to join a 3-month program of InCube Accelerator and receive pre-seed money.
Yandex invests in start-ups via its own investment initiative Yandex.Factory. In 2011, Yandex invested in mobile app prototype creation service Refine.io and personal finance service Zenmoney.