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Investment in Russian internet companies grows by 77%

0 6 August 2014

The total investment in Russian internet projects totalled $231.7 million in the first half of 2014, up by 77% compared with the same period last year, according to joint research by the Foundation for Internet Development-Initiatives and CB Insights.

Investment in Russia made up around 1% of the global total of $23.9 billion (110% growth) for the sector. The average size of investment for the period was $10.2 million globally and $21.4 million in Russia. The largest investment deal was in the e-commerce sector, with MTS and AFK Sistema purchasing a 10.8% stake in internet holding firm Ozon for $150 million.

There were 5 major departures by investors from projects between January and June:  Ivan Tavrin, director of MegaFon sold his stake in VKontakte, Auto.ru was sold to Yandex, Finparty was bought by Banki.ru, Delivery Club was bought by the international group Foodpanda and IT Invest was sold to the Da Vinci fund. 

Source: vedomosti.ru

Top image via Shutterstock

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