LetterOne expands investment prospects for technology sector

According to RBC LetterOne, Mikhail Fridman, German Khan, and Alexey Kuzmichev founded a new direction - LetterOne Technology - to invest in telecommunications and technology companies in the West.

According to the agency, a new division of the financial holding replaces the structure - LetterOne Telecom. Aleksey Reznikovich, who previously managed Alfa Group’s telecommunications assets, was appointed head of the unit. According to the Financial Times, L1 Technology has its own funds of $ 16 billion, which, moreover, can be increased to $ 25 billion.

L1 Technology can invest in both traditional telecoms and Internet companies. According to the head, the division will look for opportunities to acquire substantial shares of enterprises that give control or significant influence in large companies (the transaction value is from $ 1 billion).

The more digital focus of the former L1 Telecom is reflected in the composition of the advisory board, which, along with figures from the mobile communications world, came from the digital industry.
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The head office of L1 Technology is located in London.

Advisory Board:

• Osama Bedier
  Former employee of AT & T and Sizmek. He worked in the PayPal team as a vice president for development. In early 2011, Bedier went to Google, where he developed a draft electronic wallet. After the launch of Google Wallet, eBay, the owner of PayPal, filed a lawsuit against Google, accusing it of stealing business secrets.
  
• Brent Hoberman (Brent Hoberman)
  Veteran of the British Internet business. In 1998, when the WWW wave came to England from the USA, he created the site Lastminute.com, subsequently sold for £ 577 million.
• Julian Horn-Smith (Sir Julian Horn-Smith)
  Board member and advisor to several international corporations. Horn-Smith worked for 22 years in the British cellular operator Vodafone and stood at the origins of its creation.
• Russ Shaw
  Business angel and venture investor, director without executive authority of a number of hi-tech companies. Previously, Shaw served as chairman of the club Marketing Group of Great Britain, as well as vice president and managing director of Skype.
• Denis O'Brien (Denis O'Brien)
  He is one of several billionaires in Ireland. In the annual list of Forbes, which was released in March 2015, out of five Irish people, it ranks second (and 199th worldwide), with a fortune of $ 6.8 billion.