Russian Internet investor Fastlane Ventures has secured an investment of $13 million from technology investor Kenges Rakishev, the firm announced Thursday. The infusion will help Fastlane launch new startup companies and help grow its existing portfolio companies.
MOSCOW, Dec 06, 2012 (BUSINESS WIRE) — Fastlane Ventures, the leading Russian Internet investor and operational partner in online businesses, has today announced that it has secured an investment of USD 13 million from leading technology investor, Kenges Rakishev.
This investment is designed to reinforce Fastlane Ventures’ position as the leader in building online businesses in Russia and will allow it to launch new start-up companies in 2013, to accelerate the growth of a number of its portfolio businesses which are already demonstrating impressive results and achievements and to market test selected online business concepts.
Kenges Rakishev will be joining the Fastlane Ventures Board of Directors, alongside existing strategic investors VTB Capital, Direct Group and e.ventures.
Marina Treshchova, CEO and co-founder of Fastlane Ventures said: “We are very pleased to welcome Mr. Rakishev to Fastlane Ventures. He is an experienced business leader with a broad range of international investments in the Internet sector. Mr. Rakishev’s investment is another vote of confidence in our model, reinforcing the fact that Fastlane’s approach to building online businesses in Russia is recognized and appreciated by investors. Our portfolio already includes a number of successful companies and we are very excited about the opportunities that lie ahead.”
Kenges Rakishev, commenting on his decision to invest in Fastlane Ventures, noted: “The Internet is one of the most promising sectors of the Russian economy, and Fastlane Ventures plays a major role in this space. Its team of proven industry experts has already achieved major business successes and I believe that Fastlane Ventures is uniquely positioned to capitalize on this incredible growth opportunity.”
Kenges Rakishev has already invested in a number of international technology start-ups, including Mobli, a real-time media visual platform, TriPlay – a premier cloud services company and NetElement – a technology driven group in mobile commerce and payment processing.
About Kenges Rakishev
Kenges Rakishev, a noted global business leader named by Forbes as one of the 50 most influential people in Kazakhstan, is an accomplished investor with multiple business interests worldwide. He serves as chairman of the board of directors for several large companies including SAT & Company (kase:SATC), a diversified industrial holding and is a Board Director at Net Element, a technology driven group in mobile commerce and payment processing.
About Fastlane Ventures
Fastlane Ventures provides a unique combination of capital and expertise to launch and grow internet businesses. As both an operational and an investment partner, Fastlane Ventures builds Russian internet companies, providing full support to young start-ups. In 2012 the company was named the “Equity Gap Fund of the Year” at the Investor AllStars Awards beating competition from an international shortlist.