The size of the Runa Capital venture fund investing in the Internet projects has increased from $ 75 M to $ 135 M after another fund-raising from the partners of the fund. Additional capital will enable the fund to invest in the companies at the growth and later stages, according to Runa Capital.
The increase in fund size took place by private subscription - the pre-existing venture partners of Runa Capital invested additional capital, the fund reported. Moreover, it is marked that additional funds were invested by almost all venture partners of Runa Capital, although their shares are not disclosed.
Currently, more than 50 technology entrepreneurs and professional investors are among Runa Capital Fund partners including: Andreas Gauger, the founder of the 1 & 1 hosting company; Charles Ryan, UFG Asset Management Chairman and the co-investor of Yandex; Igor Borovikov, the founder of Softline; Oleg Cheltsov, the founder of Fotolia; Igor Danilov, the creator of Dr. Web; Edward Nicholson, the former chief executive of the Brunswick UBS bank in Russia and the CIS; Alexander Katalov, the investor of such companies as Begun, Softkey.ru, Alawar and ElcomSoft.
We remind that Runa Capital Fund was established in July 2010. The main investors were Serguei Beloussov, the Chairman of Parallels, Acumatica and Acronis companies’ Board of Directors; Alexander Galitsky, the Head of Almaz Capital Partners investment fund; as well as Dmitry Chikhachev, a professional manager and the head of Uvenco Holding Limited.
The initial size of the fund was about $ 30 M, but in February 2011 it went up to $ 50 M, then to $ 75 M, and now, after receiving additional $ 60 M from the partners, Runa Capital fund volume comprises $ 135 M.
This means that the fund will be able to increase investment in its projects - from $ 5 M (as previously) to $ 10 M in each new portfolio company. By increasing the fund size, investors also reckon upon the ability to invest in the companies at the growth stage and later stages. In addition, the fund expects to invest larger sums of money in the Internet projects - it had previously focused on software producers.
We are interested in the Internet projects the capitalization of which within 5-10 years has the potential to grow up to at least $ 100 M. We see that projects in education, health, the projects related to the social media, the projects having obvious competitive advantages, that are difficult to duplicate or copy, and can be scaled at the global market possess a great potential , - Maria Drokova, the Runa representative said.