6 Mar '19
Russian venture capitalists are getting increasingly involved in early-stage financing abroad. Earlier this year, for example, Runa Capital, an international venture fund with Russian roots, participated in two start-up funding deals in Western Europe.
The fund led a 7 million euro funding round for Vehiculum, a German-founded start-up that has developed a new car leasing marketplace.
Almost simultaneously, French start-up Admo announced the completion of its 6 million euro series B funding, involving Runa Capital as well as two Paris-based investors. Admo, which is an advertising analytics solution provider, intends to use the money to enlarge its UK team and open new offices in Spain and Germany.
While venture firms with Russian backers or management have invested abundantly outside Russia since around 2011, they usually operated in such geographies as the United States, India, Germany or the UK. Cases of investment in other European countries have been less frequent—but noticeable in the case of Runa in France.