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Runa II is up and running

0 8 July 2014

Runa Capital has just announced the completion of the first round of fundraising for its second fund. Runa II will, like Runa's first fund, focus on innovative technology companies. Typical investments will be Series A rounds of up to $10 million.

The initial starting capital of Runa Capital II was not revealed, although it is estimated to be between 20 and 40 million USD, since the first 'closing' of a venture fund usually occurs at 10-20% of the targeted total - in this case is $200 million.

The money comes from investors in Russia, Europe and the US. Runa hopes to complete the second stage (around $100m) of fundraising by the end of the year, and ultimately reach the target value of $200 million within the next 18 months. 

The main partners of the new fund are managing partner Dmitry Chikhachev, Sergey Belousov, Ilya Zubarev, Andrey Bliznyuk and American venture partner Peter Bauert.

Runa Capital II current investment strategy mainly aims at tech companies, especially those dealing with cloud computing, complex software systems and IT consulting for financial services, education, health system and public services. Startups may receive investments from $1 million up to $10 million, according to managing partner Dmitriy Chikharev, with an average investment ranging from $3 million to $5 million.

Among the firm’s previous investments are webserver Nginx, American company Wallarm and e-Commerce company Ecwid.

Dmitry Chikhachev, Managing partner at Runa Capital -

Successful funds are almost always serial - there are some “Evergreen” funds whose capital continues to grow and grow, in particular corporate funds, but they often run into problems when the entry of new investors requires them to put a value on portfolio projects. Valuations are often made on the basis of audience, which doesn't always reflect the true investment potential of the company.

We are created our new fund according to the ‘classical’ principle - when the first fund’s investment period is over (although exits continue to be made), make a new one. 

The group of investors backing Runa II will be similar to the one that funded Runa I, only it will include more IT-entrepreneurs and, we hope, some institutional investors. We are already looking at projects in Russia and the West, and expect to announce our first deals this fall.

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