Trend or coincidence: Russian investors "clone" their funds and increase capital
A first-class development team and a brilliant idea will not help to implement the project in the absence of money. Banks will not understand technical subtleties and, most likely, they will refuse the money, experts of the Rossiyskaya Gazeta are sure . And unpaid loans in case of failure will throw entrepreneurs over the poverty line.
There are various estimates of the effectiveness of venture financing, but, as a rule, 70-80% of projects do not bring returns. But the profit from the remaining 20-30% sometimes more than pays back all the losses.
Today's news not only once again confirms that the largest Russian investors are increasing capital, but also make us think about a certain tendency to “clone” venture funds.
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Sberbank decided to create a second venture fund. According to the source "Vedomosti", the fund's capital may be about $ 100 million. The second source said that the amount of the fund could reach $ 150 million. The necessary amount will help collect unnamed co-investors. The new fund should invest in Russian and foreign technology projects in the field of finance (fintech), as well as start-ups from the field of big data and artificial intelligence.
Co-investors can become corporations (including state-owned), as well as funds and private investors.
The interlocutor of "Vedomosti" believes that MoneyTime Ventures will manage the second fund. She also manages the first fund of Sberbank.
The technologies in which the fund will invest can be applied in the state bank itself. "If you look at all these guys - Amazon, Google and others - we are terribly behind," the president of Sberbank German Gref recently complained. In 2015, Sberbank made 27,000 changes to its IT platform, five years ago made 600–800 changes a year, this year it plans 41,000 changes, and Amazon makes 10,000 changes to its platform per day. “This is a noncompetitive story,” he concluded.
Today it also became known that the co-founder and CEO of the Mail.Ru Group, Dmitry Grishin, is launching the second fund, Grishin Robotics , which will continue to invest in robotics and the Internet of things.
Having increased the fund's capital, Grishin Robotics will focus on larger transactions, reserving up to $ 10 million for each company (including not only initial, but also subsequent investments).
Last October, the second fund announced Buran Venture Capital . Her first fund invested $ 35 million in 10 projects. Among the portfolio companies, the fund called Ponominalu.ru (a large online ticket office), Shazam (a mobile application for music recognition) and online video service ivi.ru. The target capital of the second fund is $ 75 million. He will invest in 20-25 companies, the average investment will be $ 1-2 million.
In July 2014, Runa Capital announced the creation of a second serial fund with a target size of $ 200 million. Runa Capital I invests in technology startups. According to its own conservative forecast, Runa expects a fourfold return on investment of the first fund of $ 135 million. The second fund will have at least a three-fold return on invested capital, calculated by Runa.
If the fund is replenished from the funds of a single investor and does not change the investment strategy, then there is no need to make new funds, explains Alexey Solovyev, the managing partner of the Prostor Capital fund . The boundary between funds is needed to balance the risks of different investors replenishing the fund.
The more time passes, the more it becomes clear how successful the fund is, Solovyov argues, so later investors bear less risk than early ones.
There are various estimates of the effectiveness of venture financing, but, as a rule, 70-80% of projects do not bring returns. But the profit from the remaining 20-30% sometimes more than pays back all the losses.
Today's news not only once again confirms that the largest Russian investors are increasing capital, but also make us think about a certain tendency to “clone” venture funds.
')
Sberbank decided to create a second venture fund. According to the source "Vedomosti", the fund's capital may be about $ 100 million. The second source said that the amount of the fund could reach $ 150 million. The necessary amount will help collect unnamed co-investors. The new fund should invest in Russian and foreign technology projects in the field of finance (fintech), as well as start-ups from the field of big data and artificial intelligence.
Co-investors can become corporations (including state-owned), as well as funds and private investors.
The interlocutor of "Vedomosti" believes that MoneyTime Ventures will manage the second fund. She also manages the first fund of Sberbank.
The technologies in which the fund will invest can be applied in the state bank itself. "If you look at all these guys - Amazon, Google and others - we are terribly behind," the president of Sberbank German Gref recently complained. In 2015, Sberbank made 27,000 changes to its IT platform, five years ago made 600–800 changes a year, this year it plans 41,000 changes, and Amazon makes 10,000 changes to its platform per day. “This is a noncompetitive story,” he concluded.
The first venture capital fund SBT Venture Capital with a capital of $ 100 million Sberbank opened in 2012 to finance technology-friendly projects for the bank. He made his first investment in the summer of 2013, having invested in the American remote control platform of contactless applications and services Sequent Software .
According to the start-up base Crunchbase, the fund has participated in 11 transactions. On the website of the management company MoneyTime Ventures, it is stated that the fund has invested $ 40 million. It is designed for 10 years, and its capital was replenished with both Sberbank and private investors.
Today it also became known that the co-founder and CEO of the Mail.Ru Group, Dmitry Grishin, is launching the second fund, Grishin Robotics , which will continue to invest in robotics and the Internet of things.
Having increased the fund's capital, Grishin Robotics will focus on larger transactions, reserving up to $ 10 million for each company (including not only initial, but also subsequent investments).
He launched the first fund in 2012, and since then the fund has been invested in 12 companies. The capital of the first fund Grishin replenished with personal money, and in the second he was joined by other investors from the USA and Europe. Grishin's first investment in September 2012 was the developer of robots for teleconferencing Double Robotics (received $ 250,000). In December 2012, the same amount was invested in the online store of software for robots RobotAppStore.
Last October, the second fund announced Buran Venture Capital . Her first fund invested $ 35 million in 10 projects. Among the portfolio companies, the fund called Ponominalu.ru (a large online ticket office), Shazam (a mobile application for music recognition) and online video service ivi.ru. The target capital of the second fund is $ 75 million. He will invest in 20-25 companies, the average investment will be $ 1-2 million.
In July 2014, Runa Capital announced the creation of a second serial fund with a target size of $ 200 million. Runa Capital I invests in technology startups. According to its own conservative forecast, Runa expects a fourfold return on investment of the first fund of $ 135 million. The second fund will have at least a three-fold return on invested capital, calculated by Runa.
If the fund is replenished from the funds of a single investor and does not change the investment strategy, then there is no need to make new funds, explains Alexey Solovyev, the managing partner of the Prostor Capital fund . The boundary between funds is needed to balance the risks of different investors replenishing the fund.
The more time passes, the more it becomes clear how successful the fund is, Solovyov argues, so later investors bear less risk than early ones.
Source: https://habr.com/ru/post/300042/
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