The Far East High Technology Fund (FEHTF) has announced its first two transactions worth of RUB 175 mln. The money went to two startups — Hotlead and Visitech. Rusbase has received this information from the Fund’s press office.
Hotlead — a Khabarovsk-based cloud telephony service with an integrated CRM system — has attracted RUB 75 mln from the Fund. Investment in the developer of IT solutions for industrial and occupational safety based in Yuzhno-Sakhalinsk (Visitech) has amounted to RUB 100 mln.
No information concerning project appraisals and interests acquired by the Fund has been disclosed.
The investment will be used to upgrade the products by strengthening the company’s R&D divisions and to develop business in Russia, including in the Far East.
Thus, Hotlead and Visitech will open additional sales offices and R&D centres in Vladivostok on Russky Island.
According to USRLE, Hotlead Group LLC was incorporated in November 2017. Hotlead LLC owns an interest of 61.75% in the company, CEO Gennady Redko — an interest of 28.5%, and MC Far East High Technology Fund LLC — an interest of 5%. The remaining 4.75% belongs to Skolkovo — Venture Investments LLC.
Visitech LLC was incorporated in March 2015. The list of company founders includes Giperion LLC (51.15%), CEO Rustam Milanov (13.41%), Anton Kirichenko (9.26%), Sergey Bobylev (8.4%), Rushana Milanova-Suvandzhieva (5.51%), Oleg Evseenkov (5.01%), Aleksei Medvedev (4.01%), Eldar Razroyev (2%) and Egor Karachev (1.25%).
The Far East High Technology Fund was launched in August 2018 by the Far East and Baikal Region Development Fund (forms part of VEB.RF), Rusnano and Russian Venture Company (RVC).
By the end of the year, the Fund will finance yet another five or six companies.