21 June 2018Russian venture Fund for internet initiatives development has invested in startups in the sphere of ecommerce and artificial intelligence accordingly 13% of the total volume of investments, said in IIDF official announcement.
In just five years of its existence, the fund invested 3.18 billion rubles in young companies, of which "clean ecommerce projects" accounted for 413 million rubles. Almost as much, by the way, was spent on companies from the field of artificial intelligence and machine learning: their share in the fund's portfolio was also 13%. Internet trade and AI became the leading categories in terms of the amount of funds raised.
More than 95% of companies from the FREI portfolio have undergone a full-time accelerator and received initial investments. Among them, the optimizer of advertising campaigns budgets in Facebook and Instagram social networks called Leadza and the online freight service Expeditor.Pro.
Startups, which proved their worth, received not only initial investments, but also investments of the second round - up to 25 million rubles. For example, the FRI provided the second round of investments of Babadu online children's goods store, as well as other companies working in the field of e-commerce: Hot WiFi, Brandquad, UseDesk, etc.
The total portfolio of the fund as of May 2017 is estimated at 4.36 billion rubles. And this is 41% higher than the total amount invested. Start-ups of the Frii have brought the largest revenue to the FDI: Start of Life (240 million rubles), Cinemood (207 million rubles), FlowWow (290 million rubles), UBIC Technologies (almost 100 million rubles), Eldis (32 million rub.).
More than 80% of start-ups from the FRII portfolio continue to operate, in fact, 63 companies ceased operations, and another 15 have applied for liquidation of the company in the tax. In total, they invested a little more than 111 million rubles, or 3% of the total investment.
"In addition to formal business criteria, in the fund, we also assess the ability of the company and its technologies to radically change the market - its principle and model of work. We call this the "discourse" (from the word disraption). The ability to improve the quality of life of people and / or business is one of the most important features of start-ups, "Kirill Varlamov, director of the FRI, emphasized.
The Frii Venture Fund was established in 2013 on the initiative of President Vladimir Putin and is by far the most active domestic fund in Russia in terms of the number of transactions. The Fund provides investments to technology companies at early stages of development, conducts accelerated programs and participates in the development of methods for legal regulation of the venture industry.
Based on materials of "RusInvestPoject"