Russia-based financial services firm Sberbank has launched a 10-year venture capital fund sized between $200m and $250m, TechCrunch reported yesterday.
Sberbank’s first 10-year fund, Moneytime, was launched in 2012 with $100m and Lev Khasis told TechCrunch it has invested $40m in 10 companies including US-based ride hailing platform Uber and UK-based social trading platform eToro.
Unlike the previous fund, which was solely financed by the bank, the second fund includes unnamed companies and private investors, some of which are Russian, as limited partners. It is also in talks with prospective investors from China.
The fund will look to invest in series A to C rounds sized at $5m or over raised by fintech, artificial intelligence and cybersecurity technology developers, as well as online marketplaces and companies operating sharing economy businesses.