The volume of Almaz II fund to reach $200M after the second closing

The volume of Almaz II fund to reach $200M after the second closingAlmaz II Fund will retain the focus of the first fund - the software and the Internet. The fund will be interested in companies focused on the global market and companies that provide B2C Internet services to in the former Soviet Union. The volume of the fund will be $200M after the second closing, a co-founder of Almaz Capital Partners Alexander Galitsky said in an interview with Gazeta.ru.

The difference from the first fund (Almaz Capital Russia Fund I) will be the expansion of seed investment stage - the fund will be able to provide seed funding, but only with the participation of business incubators and accelerators. They will also speed up decision-making time on transactions, the appearance of new directions is also possible - for example, internet-appliance (devices to access the Internet) and robotics.

The offices are still in Moscow and Silicon Valley, but the Fund is specialized in Emerging Markets now.

Supposed that the fund will retain its existing partners, but they will be joined by several other structures, Galitsky says without specifying the details: We’ve delayed the launching of Almaz II fund, so now I cannot enumerate all its members - they will declare themselves. The launching of the Fund is scheduled for October of this year. The Fund intends to make about 18 traditional transactions and 40 seed investments in total.

Recall that the recent argument between the founders of venture fund Almaz Capital Partners - Alexander Galitsky and Peter Lukyanov was settled peacefully, so the parties agreed that Almaz brand goes to Galitsky, and Lukyanov refuses litigation and participation in the work of funds of the same name in exchange for remuneration. .