Russia: Bank St Petersburg venture arm; Runa Capital invests; Luxoft acquisition

Bank St Petersburg is launching a venture arm, Runa Capital invested in a SaaS startup that monitors server infrastructure and Luxoft acquiring a software engineering consultancy.

Bank St Petersburg to launch venture arm

Bank Saint Peterburg, a major Russian bank, will be launching its own $30 million venture fund and innovation lab. This will see it focus on early-stage projects in financial technology (fintech).

Other domains it will target include the Internet of Things (IoT), software, information security, advertising technologies, Big Data, industrial technologies and biotechnologies.

According to the bank, up to 20 transactions may be completed in the course of three to five years, with the funding investing a ticket size ranging from $50,000 to $150,000 in each deal along with other investors.

Runa Capital leads $2m in in Keymetrics

Runa Capital, a Russian venture fund with global operations and Paris-based Alven Capital, have led a $2 million investment in Keymetrics.  Keymetrics has developed an SaaS monitoring service for server infrastructure. This simplifies the development of Node.js apps.

According to a report from East West Digital News, pre-money valuation of Keymetrics was estimated in the region of $10 million. Runa Capital and Alves Capital both invested $1 million each. Previous funding includes $150,000 from Kima Ventures in August 2014 then $120,000 from TechStars in 2015.

Previously Keymetrics had raised $150,000 from with Kima Ventures (in August 2014, just one month after company launch), then $120,000 from TechStars in 2015 as part of an acceleration program which took place in New York City in 2015.

Launched in 2010 by Acronis founder Sergei Beloussov, Ilya Zybarev and Dmitry Chikhachev, Runa Capital initially focused on Russia but has since expanded its scope and launched a $135 million fund in 2016 targeting US and Western European startup ventures.

Luxoft acquires Ukraine’s IntroPro

NYSE-listed Luxoft,  a provider of software development services and part of Russia’s IBS Group, acquired Ukrainian IT service provider IntroPro. Finanacial details of the transaction are undisclosed.

Incepted in 2008, engineering consultancy IntroPro employs development teams in Ukraine to serve North American clients. Its expertise covers consulting, architectural design, development as well as quality assurance services for enterprise systems and embedded systems (devices) software development. The group generates more than 90 percent of its revenue from the TV, media, and entertainment industry and maintains a workforce of nearly 500 engineers.

The acquisition is a reflection of Luxoft deepening its expertise in expanding its offerings for wireless and cable/satellite providers.

The export volume of Ukraine’s software development and IT services was estimate at $2.5 billion in 2015, according to an industry report by Ukraine Digital News. The main destination is the US market, which accounts for about 80 per cent of exported services.

Also Read:

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Deripaska plans Russia’s largest share sale since Crimea

Russia: Geopost acquires stake in SPSR Express; St Petersburg venture fund; Cinemood funding

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.