Investment House Targets $600M Fund for Russian Tech

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(The Moscow Times)

Following success with unicorn startup HeadHunter, Elbrus Capital is stepping up its investments in the Russian digital space.

Leading private equity firm Elbrus Capital has attracted $260 million to launch a new investment fund focusing on Russian digital companies, business daily Kommersant reported.

It will be the third fund launched by Elbrus — an investment house specializing in tech firms from Russia and other ex-Soviet countries. The company is aiming to raise a total of $600 million by the end of 2022 to pump into technology firms.

Some of Elbrus’ most successful investments include job search portal HeadHunter, which launched on the U.S. Nasdaq exchange in 2019, Cian Group, a leading real estate online database which is eyeing an initial public offering (IPO) next year, and PickPoint, Russia’s leading network of collection points for e-commerce orders.

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