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The detrimental impact of attending too many conferences is the lack of time or Internet connection (or a large enough keyboard) for blogging.
Therefore, here is a summary of the major news from Russia venture funds, of various levels of freshness.
The latest one comes from Fast Lane Ventures, the Russian internet startup factory. This week the company announced that it launches RentHome.ru, a short-term accommodation rental. This is the third online property project by the venture fund, in addition to TravelRent and Domgeo. There is a great similarity between RentHome.ru and TravelRent, which also offers short-term accommodation for rent from private individuals, they even share the same favicon. TravelRent website looks more similar to AirBnB. With RentHome, a big part of its $3 million investment will be spent to quality the landlords as private individuals, rather than real estate agents, according to RBC Daily.
While Fast Lane Ventures is investing in early stage Russian internet businesses, Runa Capital looks outside of Russia to support B2B companies. Last week it invested in three-year old ThinkGrid, the UK-based cloud computing provider. ThinkGrid enables IT services companies to become cloud service providers.
Runa Capital is not unique in backing a western European company. Last week news came out that Russian Kite Ventures and ru-Net have invested in another Danish Tradeshift, a free invoicing tool provider. The platform, valued at $137 million aims to integrate small and medium size businesses into one billing network. The users can issue invoices online, integrate the tool into the standard ERP packages (SAP, Oracle) and see invoice status update (such as open/paid). Aiming to offer 100% free invoicing forever, what is the company up to? A global reputation-checking network? A highly targeted business ad platform? A cloud ERP system? Once the supply chain is integrated into one happy Tradeshift family, anything is possible.
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