Andrey Terebenin, Head, Sistema, Asia Fund Advisory

'The second fund will be floated by the end of 2017. It is the right time to raise another fund. We have in mind a USD 100 million fund. Sistema will put in
USD 50 million and mobilize the remaining from external investors. It will not be a proprietary fund but a traditional one and Sistema will be an anchor investor.'

Andrey Terebenin
Head,
Sistema, Asia Fund Advisory

Sistema JSFC plans to float a second fund under the stable of its Sistema Asia Fund to invest in Indian startups as the Russian conglomerate looks to expand its venture capital bets on the country.

The second offering from the investment arm of the diversified group that clocks more than USD 10 billion in annual revenue comes barely a year after it launched a proprietary Asia fund with an initial corpus of USD 50 million in February 2016.

Sistema Asia Fund focuses on technology startups and ventures in niche consumer-centric segments. It has invested in three companies over the past year – Seclore, Qwikcilver, and Wooplr – from its first fund.

The first fund has invested nearly half its corpus and it has kept aside the remaining corpus for top-up investments in the same startups.

Sistema Asia Fund is registered in Singapore and is advised by Insitel Services Pvt. Ltd., a wholly owned Indian arm of Sistema JSFC.


 

 

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