Softline Venture Partners to fund 5 or 7 projects to 30 M RUR

Softline Venture Partners to fund 5 or 7 projects to 30 M RURSoftline Venture Partners, a venture fund for IT-projects at early stages of development, is one of the winners of a competitive selection for the right to co-invest in innovative enterprises, which was organized and conducted by the Moscow fund of VC funding development. As a result of the selection, Softline Venture Partners fund will receive funds amounting to 30 M RUR for co-investment, fund’s statement says.

Elena Alekseeva, fund’s manager, says: Moscow VC Development Fund is a great support to the market and helps to improve the investment climate of Moscow. This is shown by open collaboration with private investors to help small and medium innovative enterprises of the city, as well as to support competitions and events organized by market participants. Softline Venture Partners has extensive experience in the venture capital market, and we are grateful to Moscow Fund for the trust. We plan jointly with the Fund to support 5-7 projects, investing in each of 3 to 8 M RUR.

According to the organizers of the competition, the number of participants exceeded expectations. Given that this is a pilot project, the Board of Trustees has decided to limit the number of winners in order to test the developed mechanism.

Alexei Kostrov, the Executive Director of the Foundation to promote venture capital investments in small enterprises in scientific-technical sphere of Moscow, says: I hope that this initiative of the Government of Moscow will be successful, and we will be able to create an effective mechanism for public-private partnership. As a result we will see an increase in the number of startups that have managed to attract private investors’ money at early stages of development and to create dynamically developing companies. We believe in chosen investors and we hope that we will succeed!