RSSCisco To Invest In Web Startups In Russia
By Daya Baran at July 02, 2008 0 Comments
Cisco’s chief John Chambers routinely says “Market transitions are built on catching them right, and if you miss them it’s almost impossible to recover.” Hence Cisco hopes to capitalize on the next market transition by teaming up with Russia’s Almaz Capital Partners to create a $60 million fund for the region’s technology, media and telecoms sector. “Targets could include communications service providers, media companies, and content development companies,” said the company. In April 2007, Cisco made its first Russian investment putting in $18 million in etailer Ozon. “We see a lot of innovation in Russia. It’s been developing for quite a while. I think it’s the right time, and the right transition in the market for us to participate,” said Hilton Romanski, Vice President of Cisco’s Global Corporate Development. It’s being able to have visibility and insight and learning into new technologies and new markets. In Russia in particular, it’s being able to understand what kinds of innovations are going on in the startup community,” said Romanski.
