The capital of Softline Seed Fund has been increased by 102 million rubles. It was done by its main beneficiaries — venture fund Softline Venture Partners and Seed Investment Fund of the Russian Venture Company (RVC Seed Fund). RVC Seed Fund contributed 75 % to the fund's capital, while Softline Venture Partners — 25 %. The plan is to finance up to 10 projects within two years. The volumes of investments range from 8 to 15 mln. rubles per project.
The Softline Seed Fund was founded in January 2014. The Fund's initial size is RUB 34 mn. The Fund is focused on cloud services, digital marketing, data protection, and mobile applications. Preferences are given to preseed and seed stages The Fund's portfolio contains four projects: Stakhanovets, the system monitoring office staff's interaction with their PCs, medical information system Medkeeper, Business Family, a community for business acquaintances and Online Patent, a service for the protection of intellectual property.
The Fund operates as an investment partnership and controlled by the Investment Committee including representatives of RVC Seed Fund and Softline Venture Partners. The managing partner within SSF is Softline Venture Partners. The Fund searches for projects, helps start-ups to organize operations and assumes management risks.
For two years the fund’s team has reached impressive heights managing the portfolio of four projects, invested by Softline Seed Fund. Apart from many-fold increase in business performance (e.g., the project «Stakhanovets «increased its sales by 10 times ), we are bringing investment projects to the next level. In our experience, the investment partnership has come up as a viable legal form for venture capital investments and can be recommended to other profile market participants and state companies with money to spend but without proper experience in attracting, evaluating and promoting IT- projects. says Elena Volotovskaya, the head of Softline Venture Partners.
Together with the managing and private investors we have analysed the first transactions of Softline Seed Fund micro fund and agreed that it is necessary to expand on pre-seed and seed financing of fund projects — notes Alexey Teleshev, CEO of RVC Seed Fund. — Although the companies are at an early stage of development, they are certain to create a number of promising and sought-after projects in the near future.
Softline Venture Partners is a Corporate Venture Fund of Softline group of companies, one of the leaders of software licensing on Russian market. The fund was founded in 2008. Its current size is $20 million. The volume of investments per project ranges from $ 100K up to $ 1 million. Specific focus is on mobile applications, "cloud" services, software solutions for SME and e-commerce. As of today, the fund's portfolio contains about 20 projects.
RVC Seed Fund, Limited Liability Company (RVC Seed Fund) was established on October 22, 2009 to implement the Basic Provisions of RVC OJSC Strategy. The Fund includes RVC OJSC (99%) and the Foundation for Assistance to Small Innovative Enterprises in Science and Technology (1%). The Fund is focused on investing in the Russian innovative companies with high growth potential in domestic and foreign innovation and technology markets. Capital under management — 2 billion rubles;