East West Digital News 9 May 2012
The Russian high tech fund New Generation Investment (NGI) announced last week that it will launch a €20 million division dedicated to French startups, the French business daily Les Echos reported. “We are focusing on telecoms, web technolgies and tech-oriented media,” said NGI shareholder Leonid Reiman.
France will serve as a testing ground for one of NGI’s most ambitious projects – a VoIP and video conference service that would compete with Skype.
The project is scheduled for launch before the end of this year. “We want to create a pan-European player that can quickly deploy on all markets with quality services,” Les Echos quoted Reiman as saying.