Tuesday, July 1, 2008

Cisco Targets Venture Investments on Russia and CIS

Cisco will make an anchor investment in a venture capital fund that will focus on Russia and the Commonwealth of Independent States (CIS). In collaboration with Almaz Capital Partners, Cisco has made the anchor investment in Almaz Capital Russia Fund, which has initially closed at $60 million.

Almaz Capital Partners will seek investment opportunities and manage the fund's investments. The target companies for the fund primarily include high-growth small and medium-sized companies in the technology, media, and telecommunications sectors. Cisco will pursue investment opportunities in technology-related start-ups in the region, both directly as well as indirectly through this regional venture fund.

Cisco has already announced key direct investment commitments to the Russian market, including a stake last year in Ozon, the leading Russian online retailer.

Cisco noted that it currently has more than $2 billion in venture capital investments under management and has been an active equity investor in major markets such as China, India, Israel and Europe, in addition to the United States. http://www.cisco.com


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