Moscow based I2BF Global Ventures said it has launched a digital investment arm, I2BF Digital. The firm, best know for its cleantech focus, said the new arm will direct its investments in power electronics, digital IT and commercial devices.
I2BF Global Ventures told peHUB it has raised $20 million this year for the effort from its existing LPs. It expects to invest in seed and Series A rounds in companies in the United States, Russia and South Korea, and specifically in incubator programs such as Y Combinator and Stanford’s StartX.
(I2BF Global Ventures was misspelled in the original version of this story. It was corrected.)
I2BF Global Ventures launches digital technology investment arm, i2bf digital
Builds on Firm’s Track Record in Digital Space, Consisting of Two Exits and Seven Commitments
New York, New York – October. XX, 2013 – I2BF Global Ventures, a leading global technology investment firm, today announced the launch of I2BF Digital,a digital information technology (IT) investment arm that will focus on technologies related to power electronics, digital IT and commercial devices. I2BF Digital complements the firm’s existing portfolio of clean technology and nanotechnology companies while also building upon its strong network of entrepreneurs and technology successes.
“I2BF Digital is a natural extension of our core expertise in identifying successful start-ups and frontier technologies,” said Ilya Golubovich, managing and founding partner of I2BF Global Ventures. “We began significantly developing our digital investment portfolio in 2011 and have since completed two successful exits. As a result of our demonstrated prowess in the industry,and in response to rising demand and interest from our existing Limited Partner (LP) base, we’ve decided to formerly launch I2BF Digital as an investment arm.”
I2BF Digital will be backed by existing funds from the firm’s LPs, and investments will be focused on seed to Series A rounds in the United States (particularly Silicon Valley), Russia and South Korea, specifically across incubator programs such as Y Combinator, Stanford’s StartX and emerging programs at Moscow University and Skolkovo. I2BF Digital will also expand the firm’s product offering to its existing investors with an interest in long-term strategic investment options.
I2BF Global Ventures, which manages four venture capital vehicles, has already built a strong track record in the sector, shifting from smaller shares to a more proactive approach and larger stakes in businesses. The firm has also completed two successful exits from its digital arm with Boxee, a cloud-based DVR that was acquired by Samsung, and TokBox, a flexible, live face-to-face online video platform, which was acquired by Telefonica.
Other existing investments in the digital arm include:
· ElaCarte, comprehensive guest ordering and pay-at-table solution
· ServiceTitan, a fully integrated service tracking solution
· Buzzoola, an automated social video advertising platform
· Prizeo, a revolutionary crowd-funded charity platform
· GetGoing, revolutionising leisure travel
· CloudEO, a unique portal for all those who create, interpret and use geodata
· Zink, a company which uses zero-ink printers to produce photo-quality, full-color output.
“We’re proud to be financed in part by I2BF Global Ventures,” said Alek Vernitsky, CEO at GetGoing, the personalized travel search and booking site. “And we’re especially honored to be one of the first companies under the I2BF Digital investment arm, as I2BF expands its reach to companies like GetGoing, which is helping to make travel easier and more affordable.”
About I2BF Global Ventures
Established in 2005, I2BF Global Ventures is an international technology focused venture capital firm with a global investment mandate. The mission of I2BF Global Ventures is to seek out innovative and competitive companies, targeting sectors and technologies it believes can lead the path to a “Brighter Future”. Since the first portfolio company investment in 2006, I2BF Global Ventures has successfully completed 24 transactions, and manages four venture capital vehicles. In keeping with its worldwide investment focus, further to the team in New York, I2BF Global Ventures retains a team of technology and sector experts in London, Moscow, Dubai and Astana to ensure a truly global venture capital strategy and a hands-on management approach. Visit www.I2BF.comfor more information.