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Promsvyazbank to invest in two projects

0 14 August 2014

Over the next three years, Promsvyazbank's venture fund will invest $150k in project Kollektsioner based in Blagoveshchensk. It also plans to open a new Pierre Cardin menswear shop in the 'ComsoMALL' shopping centre in Irkutsk this autumn, but the size of this investment is yet  to be announced.

Kollektsioner, founded in 2012, produces coin collecting albums. The company will use the new investment to expand its product range. The company has branches in 26 Russian regions so far, and is now planning to open branches abroad.

About Promsvyazbank venture fund
Launched by Promsvyazbank as part of a partnership deal with the All Russian Non-Governmental Organisation of Small and Medium-Sized Businesses “OPORA Russia” in February 2013. The company provides financial support to primarily small enterprises led by young enterpreneurs. According to the venture fund itself, since its creation it has closed 18 investment deals worth a total of $2 million.

Source: Firrma

Image via Shutterstock

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