In the air Russia
US Venture Capitalists Go East: Russia’s Startups Now More Appealing
Is Russia becoming a new frontier for US venture capitalists? With local startups and incubators springing up like mushrooms, a number of foreign tech investors have started to operate in the country, which is striving for modernization.
Exemplifying the invest in Russia trend is Tiger Global Management, a New York-based international investment management firm. Over the past two years Tiger has invested twice in the Russian e-commerce platform Wikimart.ru – $5 million in 2010 and another $7 million in 2011 – and contributed $10 million in a round of financing for online travel sales site Anywayanyday.ru.
Read the full article covering issues like: entreprenuerial spirit of Russian startupers, governmental funding for innovation and, inevitably, corruption