Sberbank Venture Fund made its first investment

Sberbank Venture Fund made its first investment American Sequent Software reported that attracted $12M. Funds have been invested by Venture Fund of technologies of Sberbank (SBT Venture Capital) with Opus Capital and Jado Investments, who have already invested in this project earlier. This confirmed to “Vedomosti” senior vice-president of Sberbank Biktor Orlovsky.

Sequent Software was founded at the end of 2012 and developed a platform of remote control under noncontact applications and services SE-TSM (Trusted Service Manager). It is based on a technology Near Field Communication (NFC), designed to data exchange between devices shortly situated to each other. Most services of noncontact payment via mobile phone work on the basis NFC – for example, passengers’ payment in transport. SE-TSM platform allows banks and other companies to manage its data on mobile telephones safely, - is said in Sequent Software report.

This is the first investment of SBT Venture Capital Fund, which was founded in February 2012 with capacity of $100M, says Orlovsky. Investment in Sequent Software he substantiates by the fact that the Fund is “very interested in projects, related to safety and mobile applications.” This subject is vital for Sberbank too, that is why Fund works through variants and project initiations for implementation in bank.