Alexey Basov: “We are expanding the fund to increase the share in existing companies”
Aleksey Basov, the general director of Begun , part-time manager of the Finam Information Technologies Fund, in an interview with Habrahabru explains why the IT-fund began selling additional shares.
This week you started selling additional shares of the Finam Information Technology Foundation. What caused this?
Additional emission is made to increase the fund. We are expanding the fund to increase the share in existing companies, as well as planning new acquisitions.
Where will the additional 150 million rubles go?
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First of all, we plan to increase our presence in those companies that have demonstrated the best dynamics this year. Also, as I said, we may close some of the ongoing deals.
Which companies have a fund asset structure?
At the moment, in the assets of the share fund in the companies “Buka” (publisher and distributor of games), “Mamba” (dating service), “Search technologies” (technology company), “Ashmanov and Partners” (consulting and software). This portfolio reflects our understanding of the most promising business models: mass services, development of technology services, consulting in the field of online business promotion, publishing business.
Which companies showed the best performance?
I would not like to disclose the indicators of specific companies, or otherwise select some of them. I can say that we have not experienced disappointment in any of the companies included in the fund.
In which segments will you buy companies?
In those segments that seem to us the most promising. We are most interested in web services, social networks, software companies. If we talk about specific businesses, then when considering candidates for a fund, we focus primarily on environments for communities and communication, payment systems, auctions, advertising and navigation services, game projects. We strive to acquire companies that have a stable development dynamic and are at least among the top three in their field.
That is, startups “on paper” do not make sense to contact you?
“Finam” has repeatedly acted as a venture investor, initiating startups. However, high-risk projects, which include start-ups, we do not include in the fund, but participate in them as a direct investor. As for appeals, at least half of them are “on paper” projects. We work with projects at any stage. It would be a mistake not to participate in a successful business just because it is created before your eyes.
How many projects on paper do you have now?
At the moment we are considering the possibility of investing in 4 projects that are at the stage of a business plan or concept. However, I want to emphasize that the preferred way for us is to enter the formed business. Most of the transactions, where we were direct investors or intermediaries, took place with companies with clear market positions.
How many additional issues will be held?
As much as it takes to form a portfolio of the most successful and attractive IT companies available for purchase. The demand for fund units is high, we still have at least 3 additional issues in our plans by the end of 2007.
What is the expected size of additional issues?
About the same as this time. 150 million rubles is quite an optimal volume from our point of view.
What made the yield of 44% in six months?
Due to the good financial performance and capitalization growth of the fund's assets.
How can you comment on the purchase information of the hosting provider Masterhost?
We negotiated with this company, as well as with some other participants of the hosting market. However, rumors of a quick deal are exaggerated.
Do you feel the competition in the investment market? Do not you have to, say, compete with other funds for a particular asset?
When working with projects, one often encounters the fact that the applicant has several offers: from private investors, from Russian and Western funds. However, there is virtually no competition in the classical sense, which would be reduced to a struggle for a project and improvement of investment conditions. Investors have significant differences in preferences on the structure of the transaction, investment horizon, specialization, possible synergies with other assets. In addition, all operate with similar methods of valuation, so the candidate chooses between investors rather than offers.
How much, by your estimates, will be invested in startups in 2007?
If we take only the Internet industry, then in Russian Internet startups in 2007 at least $ 80 million will be invested, according to my estimates.
This week you started selling additional shares of the Finam Information Technology Foundation. What caused this?
Additional emission is made to increase the fund. We are expanding the fund to increase the share in existing companies, as well as planning new acquisitions.
Where will the additional 150 million rubles go?
')
First of all, we plan to increase our presence in those companies that have demonstrated the best dynamics this year. Also, as I said, we may close some of the ongoing deals.
Which companies have a fund asset structure?
At the moment, in the assets of the share fund in the companies “Buka” (publisher and distributor of games), “Mamba” (dating service), “Search technologies” (technology company), “Ashmanov and Partners” (consulting and software). This portfolio reflects our understanding of the most promising business models: mass services, development of technology services, consulting in the field of online business promotion, publishing business.
Which companies showed the best performance?
I would not like to disclose the indicators of specific companies, or otherwise select some of them. I can say that we have not experienced disappointment in any of the companies included in the fund.
In which segments will you buy companies?
In those segments that seem to us the most promising. We are most interested in web services, social networks, software companies. If we talk about specific businesses, then when considering candidates for a fund, we focus primarily on environments for communities and communication, payment systems, auctions, advertising and navigation services, game projects. We strive to acquire companies that have a stable development dynamic and are at least among the top three in their field.
That is, startups “on paper” do not make sense to contact you?
“Finam” has repeatedly acted as a venture investor, initiating startups. However, high-risk projects, which include start-ups, we do not include in the fund, but participate in them as a direct investor. As for appeals, at least half of them are “on paper” projects. We work with projects at any stage. It would be a mistake not to participate in a successful business just because it is created before your eyes.
How many projects on paper do you have now?
At the moment we are considering the possibility of investing in 4 projects that are at the stage of a business plan or concept. However, I want to emphasize that the preferred way for us is to enter the formed business. Most of the transactions, where we were direct investors or intermediaries, took place with companies with clear market positions.
How many additional issues will be held?
As much as it takes to form a portfolio of the most successful and attractive IT companies available for purchase. The demand for fund units is high, we still have at least 3 additional issues in our plans by the end of 2007.
What is the expected size of additional issues?
About the same as this time. 150 million rubles is quite an optimal volume from our point of view.
What made the yield of 44% in six months?
Due to the good financial performance and capitalization growth of the fund's assets.
How can you comment on the purchase information of the hosting provider Masterhost?
We negotiated with this company, as well as with some other participants of the hosting market. However, rumors of a quick deal are exaggerated.
Do you feel the competition in the investment market? Do not you have to, say, compete with other funds for a particular asset?
When working with projects, one often encounters the fact that the applicant has several offers: from private investors, from Russian and Western funds. However, there is virtually no competition in the classical sense, which would be reduced to a struggle for a project and improvement of investment conditions. Investors have significant differences in preferences on the structure of the transaction, investment horizon, specialization, possible synergies with other assets. In addition, all operate with similar methods of valuation, so the candidate chooses between investors rather than offers.
How much, by your estimates, will be invested in startups in 2007?
If we take only the Internet industry, then in Russian Internet startups in 2007 at least $ 80 million will be invested, according to my estimates.
Source: https://habr.com/ru/post/4748/
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