24 Jul '17
Lanit Ventures, a $10m VC fund set up last year by Lanit, one of Russia’s oldest systems integrators which has been in business since 1989, is actively supporting start-up teams already.
Money to invest in start-ups reportedly comes from the shareholders of Lanit’s numerous subsidiaries. The new fund invests in Russia and the former Soviet Union, with certain amounts also allocated for projects outside the former USSR.
Lanit Ventures is reported to purchase stakes “no lower than a blocking one” in IT and Internet projects “with high potential in the global markets.” The fund also seeks new mobile and web-based platforms, SaaS and cloud services, as well as fintech and retail-focused solutions.
The fund’s growing portfolio consists of projects invested by both Lanit Ventures and its parent company, Lanit. Such are, for example, Fibrum (VR headsets), CleverDATA (big data analysis and processing), Lanit Omni (loyalty programs and other digital solutions to help retailers manage customer behavior), ÑardsMobile (contactless payment platform), Dashboard Systems (software products for management structures in mid-sized and large-scale corporations as well as in governments), or Mopro, a U.S.-based website developer.
This past February, the fund anted up more than a million dollars for the development of Zozo WFM, a company that is putting together digital HR management systems, and also helped its portfolio company, Mobile Electronic Education (MEE), bring on board a new co-investor, the 1C fintech developer owned by Boris Nuraliev.
Since 2014, when Lanit helped set up MEE, the Russian systems integrator has invested $4m in the start-up. MEE is busy developing software solutions and services for both high school education and programs aimed at re-training teachers.
Zozo WFM helps optimize business processes, from planning and KPI forecasts to working shifts management.