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Runa Capital to hike its total fund size to US$50 million to funds early-stage Russian technology firms

Runa Capital, a venture capital fund, announced it will increase its total fund size to US$50 million. Runa Capital increases the fund following growing interest among Russian and international technology entrepreneurs and investors, who are keen supporting early-stage Russian technology companies compete at a global level. Runa funds early-stage Russian technology firms.

Runa Capital was established with seed financing of US$30 million. The increase in funding is expected to ensure additional young Russian and CIS high-tech teams can benefit from the firm's capital, expertise and strategic partnerships. Runa Capital's list of partners now combines more than 20 world-class technology entrepreneurs and professional investors.


Among the new partners are Edward Nicholson, former CEO of Brunswick-UBS in Russia and the CIS and Alexander Katalov, investor in Begun, Softkey, Alawar and ElcomSoft. Runa's focus remains on investing in rapid growth tech sectors, including cloud computing, machine learning, virtualization and mobile & internet applications.


Dmitry Chikhachev, managing partner of Runa Capital said that last year, Runa Capital successfully invested in two projects - the voice-enabled social network OnAir3G and cloud-based application development platform Chikhachev further noted that this latest expansion targeted increase of its financing will ensure that the firm can continue building upon its primary objective of elevating talented Russian technology teams to the world stage.


Runa Capital plans to announce another eight to ten transactions in 2011. Runa Capital is an early stage venture capital fund established to pursue opportunities in the rapidly growing areas of Cloud Computing, Internet and Mobile Applications. Runa Capital is run by a team of successful entrepreneurs, most of who have worked together for over 15 years. It is a united team with broad geographical and cross-industry experience, as well as an extensive professional network. Runa Capital investment team members possess an excellent track record in tech investments.


Runa Capital's investment strategy focuses on early stage opportunities in Russia, where the venture capital is scarce and deal flow abundant, as well as Russian tech teams abroad. The key execution point is to select promising teams and drive and support them in the global marketplace, turning them into international champions. The increase in funding is to enable the firm fund further entrepreneurial endeavors in the technology industry in Russia. The investment is in line with Runa Capital’s strategy that seeks to invest increasingly in promising Russian technology upstarts.


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