East-West Digital News 4 October 2012
Bright Capital, the international venture investment arm of Russian billionaire Mikhail Abyzov, has invested “from $3.5 million to $4 million” in exchange for a minority stake in Fotoshkola.net, RBC Daily reported earlier this week, citing unnamed sources in the venture industry.
When contacted by East-West Digital News, however, Bright Capital declined to confirm the figure and provide more details on the deal.
“A part of the funds will be used to expand on the American market,” RBC Daily quoted Fotoshkola.net founder Arkady Akulov as saying. “This is not the last investment round in our company; we intend to attract money from Western investors as well in the very near future, and carefully look at the Japanese, German, and Spanish market,” he added.
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