Appeared several months ago new venture fund “Flint Capital” intends by the end of 2014 to finance about 15 projects. The Fund possesses $30M, which will be managed by former managers of “Finam Global”. Each project can account for investments from $500K up to $2M.
Recently there has been announced about ending of the first Fund’s deal - $1M for development received the service YouDo.com, which allows finding executives for various home and business tasks’ solutions. The service’s business model is lead generation (the company takes 10-25% from the order cost, which takes the executive), and selling orders to service companies and household freelances. During the last two months the project’s ream has tested such method of monetization at a small amount of executives, and by the end it is planned to fully transfer YouDo at this business-model.
However there are more 4 projects in the investment portfolio at the site – microfinance Internet service “Platiza”, the service of remote ID “Federal Finance”, Label Group” (offers services for Internet stores establishment on turnkey basis).
According to the Fund, several deals have been prepared simultaneously, and the deal with “YouDo” appeared to be he first among them, however the rest deals will be closed in the near future.
The idea of making own projects appeared in autumn 2012, and the Fund itself started its work in spring this year, says managing partner of “Flint Capital” Dmitry Smirnov. The sphere of the Fund’s interests is TMT sector. First of all these are the Internet projects and studios, which develop solutions in the sphere of customs electronics. The main directions are infrastructural, platform and technological products in services, advertising and e-commerce. The Fund expects receiving 10-35% from each project.
Investors of “Flint” are private bodies, citizens of Russia, says Dmitry Smirnov, not specifying names. Besides, in the “Flint Capital” suppose that in a range of deals the Fund will take part as a co-investor.