Dmitry Alimov, previously a partner at Russian-based Ru-Net, is launching a $50m firm, Frontier Ventures. Alimov said: "Investors are myself and other successful entrepreneurs."
He added: "We believe this is the best time to launch Frontier Ventures because the [Russian consumer internet] industry is now established with a critical mass of internet users and is clearly able to generate revenues and profits. At the same time we believe there is at least another 10 to 15 years of rapid growth ahead of us. We have been investing in the internet industry in Russia for more than ten years so we are not new to the game by any means. We understand how the internet industry works locally and how internet users behave globally so we are confident in our projections for growth and we think we are the right team in the right place at the right time to launch the fund."
Ru-Net, a Russia-based technology investment company, is chaired by Leonid Boguslavsky. Boguslawsky backed Russian internet companies Ozon, an on-line bookstore, and Yandex, an on-line search engine which floated in the US in May 2011.