Central regions | Transport, logistics | Finance, business
Private Russian airline to launch $50m VC fund
28 Sep '18
S7 Group, a major private Russian airline, is about to launch a $50m venture fund, East-West Digital News reported.
Since last year, the group has already invested some $10m “in start-ups developing digital and industrial technologies,” S7’s VP for innovation Dmitry Chuiko said. These start-ups are from Germany, the U.S., India and China, with Russian accounting for just 12% of the portfolio.
The fund is likely to be registered abroad, since international investment deals would not be made easily using a Russian vehicle.
Scheduled for launch by the end of this year, the fund will pursue both financial profit and corporate innovation goals.