Published: February 7, 2012
Russian bank to raise US$500mn for new initiative.
Russian lender Sberbank has launched a new fund to target technology companies.
The bank has invested US$100mn into the fund and is looking to increase this to US$500mn by bringing international investors on board.
The fund will be managed by Troika Ventures, part of Sberbank’s newly acquired investment banking arm Troika Dialog.
Sberbank’s fund will focus on young companies and projects that seek to develop new information and communication technologies for financial institutions. It will target Russian and international companies.