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TMT investments gets good return from Astrid sale

0 7 May 2013

The sale of to-do-list app Astrid to Yahoo was good news for TMT Investments, a team of Russian investors based in London. 

TMT, which invested $400,000 in Astrid in April 2012, reported that as a result of the sale the fund received a sum "in excess of the book value of its investment". 

Astrid currently helps over 4 million people to be more productive. It claims that it can help you sort out your emails in just 30 minutes, which puts it ahead of rivals like Evernote and Wunderlist. However, it seems likely that the project may be shut down and its technology used to improve Yahoo’s own services, rather like Summly, which it bought in March of this year. 

TMT has invested in 24 companies since 2010, a significant number of which are located in Silicon Valley. Their preferred industry segments are mobile software applications, could solutions, advertising technologies and online social network services and applications, and they are currently looking to invest between $250,000 and £3m in projects at the growth stage which are scalable and display significant growth potential. 

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