Moscow Times 25 April 2012
Fast Lane Ventures, a backer of Russian online start-up firms, has raised $18 million from investors led by VTB Capital, signaling rising investor appetite for Russia’s Internet market.
The cash will be used to develop FLV’s current portfolio of companies and fund new investments.
VTB Capital Venture Business is also considering direct investment into FLV’s portfolio of companies.
“I believe the strategic partnership of the two companies will further fuel interest in the Russian Internet market from the international investor community,” said Stefano Zuppet, global head of TMT investment banking at VTB Capital.