LETA GIV Venture Fund founded by LETA Group that is a management and investment company in advanced information technologies, announced investing in BaltoStorage company, a photo storage service provider. The total investment in BaltoStorage company is $ 350K.
Leta GIV Foundation is the sole investor and has a share in the company. At the same time, BaltoStorage company will retain full independence and will not be a part of Leta group of companies.
BaltoStorage is a young project, which task is to provide access to your photos from anywhere in the world through the Internet. A distinctive feature of BaltoStorage is that the photos can be arranged in any conventional place and it means that there is no need to create a separate folder or run special software on each device to synchronize the data between devices.
At the beginning of June 2012 there are 50 K registered BaltoStorage users, over 1.7 M files totaling over 3 TB have been downloaded and synchronized. BaltoStorage achieved these indicators within less than three months since the launch of the service.
BaltoStorage is understandable and predictable business for us, working in a studied market, - Sergey Toporov, the chief investment manager of Leta GIV says. - Also, the most important criterion is that the project is implemented by an experienced and ambitious team that is really able to take its share in the market.
Leta GIV Venture Fund is founded by Leta group of companies and is a private non-public equity fund. The Fund does not appeal to external sources to finance its projects.