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Almaz Capital, a VC firm with headquarters in Menlo, California and Moscow, is raising a $102 million (77 million Euro) fund, based on a securities filed submitted by the fund to the United States Securities and Exhange Commission (SEC) on July 25th. The firm has not actively publicized this latest fund, but co-founder Alexander Galitsky told EWDN that the old fund had used its capital and that Almaz II have several types of investments, larger sums, typically $15 million (11,3 million Euro), for companies between Series A and B rounds and much smaller sums, between about $50,000-300,000 (38,000-226,000 Euro), which will be offered as part of a special investment program in conjunction with accelerators in incubators.
Cisco backed the original Almaz Capital in 2008 when the $60 million (45,3 million Euro) Almaz Capital/Cisco Fund I was announced and it’s reported that Cisco and the European Bank for Reconstruction and Development will be backing this second fund. In 2012 Almaz Capital venture team has won the award of the best VC team by Preqveca (Russian private equity and venture capital portal). Natasha previously wrote a pretty thorough background post on Almaz Capital back in 2011, so that’s certainly worth checking out.
In addition, the fund announced a new investment, too. Together with previous investor RTP Ventures, which is the American wing of Russian investment firm ru-Net, they’ve invested $10 million (7,55 million Euro) in California-based GridGain Systems, a provider for In-Memory Computing. As part of the deal, Almaz Capital managing partner Geoffrey Baehr will join the board of GridGain Systems.
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