Russian millionaire Ziyavudin Magomedov created a venture company with a volume of up to $ 300 million and invested in Uber

    The head of the board of directors of Summa Group Ziyavudin Magomedov created the venture company Caspian VC Partners (CVC). This is a personal project of Magomedov, the representative of the company emphasizes. The managing director of CVC was William Shore, who previously headed Sumy's venture investment department.

    "The average size of our investment in projects will be in the range of $ 1-5 million," specified in CVC. At the initial stage, the total volume of CVC will be $ 150 million. However, in the future, the founders plan to increase it to $ 300 million. Who apart from Magomedov invested in assets and allocated funds, the company does not disclose.

    CVC has already invested in Uber , Uber China, Peek Travel , Diamond Foundry andHyperloop Technologies , the report said. These five companies are a source of good income, especially Uber China, which operates in the rapidly growing Chinese market, says Evgeny Timoshinov, a representative of Summa Group. In addition, Uber is working on a similar service for trucks that could be potentially useful in Sumy’s business, he adds. The size of investments and received shares in projects Timoshin does not disclose how and the expected return on investment, calling it a "typical venture capital industry," transmit "Vedomosti".

    CVC is interesting in such areas as transport, agriculture, industry, the consumer sector, as well as robotics. One of the tasks of the company will be to attract new technologies to Russia, reports"Kommersant." By acquiring shares in start-ups, the investment company intends to give Russian entrepreneurs access to new developments, the fund said.

    In 2013, with the assistance of Mr. Magomedov and his Peri charity fund, the Peri Innovation business incubator was opened. Now it is managed by the Summa group. Summa owns assets in port logistics, engineering, construction, agriculture, the telecommunications and oil and gas sectors.

    In 2015, Forbes estimated Magomedov’s fortune at $ 800 million, placing him in the 116th place in the ranking of Russia's richest businessmen.

    Also popular now: