Flashpoint Secondary Fund

History

2021: Launch of a new fund for investments in fintech and medtech

In mid-February 2021, the Russian venture capital company Flashpoint launched a new $200 million Flashpoint Secondary Fund. It is aimed at investing in fintech and medtech, approximately 50% of this amount has already been attracted.

In Flashpoint Secondary Fund founders and the former owners of service for a game invested in PokerStars poker - family Sheynberg. Other investors in Flashpoint have not yet begun to disclose. The management of the Flashpoint Secondary Fund team is the responsibility of Mikhail Salontai and Chris Baxter.

Flashpoint co-founders Mikhail Salontai (left) and Alexander Konoplasty (right)

Flashpoint co-founder and general partner Mikhail Salontai noted that the Flashpoint Secondary Fund is focused on helping the creators of technology companies effectively manage their shareholder structure in anticipation of new rounds and providing an opportunity for early stage investors without waiting for new rounds.

Geography for investments of the new fund: Central and Eastern Europe, Baltic countries and CIS, Israel. The fund will primarily invest in startups in the fields of health, fintech, entertainment, and education.

According to the founders of the Flashpoint Secondary Fund, the new fund will provide the company with the opportunity to integrate more deeply into the local technological ecosystems of Israel and Europe through the acquisition of shares in more mature IT companies.

Financiers Mikhail Salontai and Alexander Konoplasty founded Flashpoint in 2012. According to the company's own data, the total value of assets managed by Flashpoint is $350, among Russian startups in the portfolio: Dostavista courier delivery service, ivi.ru, and others. Investors in Flashpoint funds were more than 70 representatives of large family offices and organizations, as well as individuals. Flashpoint offices are located in Moscow, Warsaw, Tel Aviv, London, Budapest, and Riga.^[1]

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