Central regions | Finance, business

New VC fund launched to back Russian-founded start-up teams

27 Apr '21
A new venture fund has emerged in Russia, called NRG Ventures. The founders are Andrei Taburinsky, the former Vice President of Mail.ru Group, a Russian Internet giant, and Roman Tyan, the ex-Director for Investment of FortRoss Ventures, an international Russian-founded VC fund, Firrma.ru reported.

The new fund has reportedly brought on board 20 out of 40-50 investors planned for participation at the inception phase. Those are expected to each invest anything between $50,000 and $5m. NRG Ventures overall goal is to put a total of $25m in start-up teams founded by Russians.

The fund owners want to support 50 companies over the next three years; each of those may expect to receive approximately $500,000.

Russians currently account for up to 25% of each new enrolment by the worlds top accelerators, which makes them the biggest single national group there. Russian start-up founders have overcome mistrust generally harbored by the global VC community, especially the English-language one Two of the three start-up teams I have talked to have plans to go global or are already entering international markets, and our task is to help them, Mr. Taburinsky said in a comment on his new project.
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