North West | Finance, business | Technology & innovation

Russian metal giant to back technology start-ups

24 Aug '18
Severstal, one of Russias largest mining and metalworking companies, has launched its own venture investing arm, Severstal Ventures, to support and develop young technology projects.

It is expected that to nurture technology projects with high potential we will be both investing in sector-specific VC funds and working with the projects directly, the Russian business daily Vedomosti quoted a spokesperson for Severstal as saying.

The new entity is reportedly planning to start by shelling out $20-25m a year for investments in projects.

One of Severstals subsidiaries, Melsonda Holdings, Ltd., has already been reported investing in Pangaea Ventures Fund IV, LP, a fund that is focused on innovation in the field of modern materials.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: Severstal (41) / technology (250) / Severstal Ventures (0) /

Latest News: North West
24 Apr '19 | Technology & innovation | Finance, business
18 Mar '19 | Technology & innovation
22 Oct '18 | Finance, business | Technology & innovation
9 Oct '18 | Finance, business
 

Feature stories

4 Apr '19
Russian scientists have come up with what they say is...
29 Jan '19
Russian biologists and biophysicists have developed...
2 Nov '18
Drawing upon in-depth interviews, the book channels...
Search (News archive - 21349)
Advertising
Venture_Russia_2018
Advertising
NATT
Advertising
StartUp-Village
Advertising
Independent Software Developers Forum
Advertising
Marchmont News

Latest News

23 May '19
Scientists in Nizhny Novgorod have developed...
22 May '19
Russia teams up with a private equity firm from...
20 May '19
An intelligent cardiovascular diseases diagnostics...

Most read stories from last week

23 May '19
Scientists in Nizhny Novgorod have developed...
22 May '19
Russia teams up with a private equity firm from...