wordpress blog stats
Connect with us

Hi, what are you looking for?

Sistema floats $50M Asia fund to invest in niche retail & tech

Russia-based Sistema has floated a $50 million Asia Fund to invest in startups in India and Asia, reports ET. The company will focus on making Series A to Series C investments in the technology and niche consumer retail sectors. Sistema mentions that the size of the fund is expected to be increased once the startup financing business grows. The fund will be advised by Insitel Services, a fully owned subsidiary of Sistema. Andrey Terebenin, former Sistema executive board member, has relocated to India as senior managing partner of Insitel to oversee the Asia Fund. Sistema in India: Last month, Reliance Communications (RCOM) received permission for its merger with Sistema Shyam Teleservices Limited (SSTL), which operates as MTS in India, from the BSE and the NSE. The merger was first announced in November, under which MTS would hold 10% equity stake in Reliance Communications. In April last year, the company said it would provide free WiFi access for travelers at Varanasi, Ahmedabad, Agra, Mumbai CST, Howrah and Secunderabad railway stations. Some of the other funds in India: - Last month, VC firm Norwest Venture Partners (NVP) announced its latest fund Norwest Venture Partners XIII at $1.2 billion. - The same month, we reported that Storm Ventures had launched a new fund for software-as-a-service (SaaS) startups in India, with an allocation of at least $10 million for the fund. - In January, Unicorn India Ventures finished a first close of Rs 40 crore on its Rs 100 crore fund, which plans to…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Paytm has started distancing itself from PPBL in light of the current negative spotlight on PPBL.

News

The move can be seen as an attempt by Paytm to distance itself from the troubled Paytm Payments Bank, which has been significantly restricted...

News

"Without Google’s abuse of its dominant position, the media companies would have received significantly higher revenues from advertising and paid lower fees for ad...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ