RSS

FortRoss Ventures

Company

width=200px

Content

Assets

+ FortRoss Ventures (SBT Venture Fund)

Main article: Venture capital investments in Russia

Fort Ross Ventures is a management company focusing on investments in startups in the United States, Israel and Russia. Target companies work in areas such as financial technology, cloud technology, artificial intelligence, the Internet of things, cybersecurity and marketplaces, enterprise automation.

According to information for September 2020, two funds are managed by Fort Ross Ventures. The total liabilities in the funds managed by Fort Ross Ventures is $345 million. Funds invest in startups that generate $7 million in revenue and grow by 100 percent or more per year.

Investors in funds managed by Fort Ross Ventures are both Russian and foreign individuals and corporations. Fort Ross Ventures cooperates with large Russian corporations and helps develop internal innovations for companies such as Sberbank, Lanit, MTS, Megafon, X5 Retail Group, NLMK.

Relations with Sberbank

For 2018, Sberbank provides its entire R&D resource for due diligence and the development of investment projects. Sberbank spends about $40 million a year on specialists who work in research laboratories, and FortRoss can use their exclusive expertise. Not a single fund in the world has such competencies, Victor Orlovsky is sure. Top managers of Sberbank are involved in the activities of FortRoss Ventures. The first deputy chairman Lev Khasis is a member of the investment committee of the first fund and communicates weekly with Orlovsky, communication with Gref occurs a little less often.

In addition, Sberbank helps in the replication and distribution of products and services of those startups in which FortRoss invests. For example, the company GridGain, thanks to Sberbank, received another 20 financial institutions outside of Russia.

History

2022

Fort Ross Ventures withdraws from Kryon capital

On February 15, 2022, Fort Ross Ventures withdrew from Kryon, selling its stake to Nintex. As noted in the fund, from 2019, when he invested in Kryon, to 2022, "the startup showed growth and entered the Russian market." More details here.

Investing in SegmentStream

On February 7, 2022, Fort Ross Ventures announced investments in SegmentStream, a British technology company with Russian-speaking founders. The fund was in the lead in the sowing round for $2.7 million. More details here.

Investing in an online navigator for Fura truck drivers

January 18, 2022 it became known about the investment of 600 million rubles in Fura. Most of all, Fort Ross Ventures invested in the startup (the amount is not disclosed), the Flashpoint Venture Debt fund, the founder of the ATI freight exchange Svyatoslav Wilde and others also took part in the transactions. More details here.

2021

Investing in California-based online life insurance platform Ladder

In November 2021, it became known about the investment of $100 million in Ladder. The venture capital company Thomvest Ventures and the OMERS Growth Equity fund invested the most in the startup. The Fort Ross Late Stage Fund also participated in the Series B funding round. Transaction parameters are not disclosed. More details here.

First closing of late stage fund

On November 17, 2021, Fort Ross Ventures, focusing on investments in startups in the United States and Israel, announced the first closure of its $100 million Fort Ross Late Stage Fund. In 2020, the launch of a $200 million fund was announced with the priority of investing in rounds of the D + series of leading American, European, Asian technology companies with the potential for an IPO or strategic sales within 2-3 years.

In addition, Fort Ross Ventures expands the geography of its presence, adding Europe to its already traditional areas, retaining a focus on financial and cloud technologies, services for automating business processes of companies, AI/Machine learning, cybersecurity, EdTech, FoodTech, etc.

Immediately after the first closure, the Fort Ross Late Stage Fund invested in California insurance startup Ladder in the Series D funding round, which totaled $100 million.

{{quote 'author = said Victor Orlovsky, founder and general partner of Fort Ross Ventures. |

We are very pleased with the results of the Fort Ross Late Stage Fund. This success confirms the correctness of our strategy and confirms that our experience, expertise and international connections, combining corporations with the best technical and managerial talent, can be as useful for more mature companies as for startups in the early stages. I am convinced that the combination of patented technology and Ladder team leadership will allow the company to join unicorns in the Fort Ross Ventures portfolio such as Standard.ai, EToro and Clearcover.}}

Investing $10 million in Insurify

On September 2, 2021, Fort Ross Ventures announced TAdviser that it had invested in - American startup a licensed agent for various species. insurance Insurify The volume of investments the fund in the company amounted to 10 million of dollars the total investments of round B - 100 million dollars. More. here

Co-operation with DEV LaunchPad

On August 16, 2021, Fort Ross Ventures announced a partnership with SOUND LaunchPad.

The partnership of venture market players implies that companies in the field of advertising and marketing technologies will be able to receive not only start-up investments in the development of products within the framework of the ADVLaunchpad venture studio, but also get the opportunity to apply for funding from Fort Ross Ventures. Thus, the companies with which Fort Ross Ventures and NAV Launchpad will work will have access to the network of global contacts, projects and funds of Fort Ross on the one hand and the ability to test product hypotheses with local and international advertisers and scale the business through partners of the ADV group (IPG and Havas) on the other.

At the same time, Fort Ross Ventures and ADV note that the partnership is built on the principle of win-win, in which all participants remain in the win. The expertise of NAV Launchpad is based on the fact that the studio takes ideas at the start, forms teams and brings companies to the first result, sufficient for external investors to consider the project. The Fort Ross Seed Fund, in turn, invests in the Seed and Series A stages in companies with an already ready-made technological solution, at least the first revenue and ambitions of global expansion.

Thus, thanks to the partnership, Fort Ross Ventures expands the funnel of promising companies from the Adtech/Martech segments, the solutions of which were verified by one of the major advertising groups in Russia. WAVE LaunchPad, for its part, receives additional expertise from one of the global venture funds and an additional funnel of companies at the pre-seed stage. And startup teams are gaining opportunities to start cooperation with Fort Ross Ventures portfolio projects and additional expertise to test hypotheses in the global market.

Vadim Dyakov, ADV Innovation Director and Director General of NAV Launch Pad, who now joined the FRV team as a venture partner of the Fort Ross Seed Fund, will oversee the partnership direction from the ADV.

{{quote 'author = said Victor Orlovsky, founder and general partner of Fort Ross Ventures. |

We begin to cooperate with ADV LaunchPad, and we believe that this partnership will be fruitful for both parties. The market for marketing technologies is growing from year to year - according to BDO WARC estimates, as of August 2021 its total volume is estimated at 121.5 billion, dollars while annual investments in this industry amount to slightly less than 2 billion dollars. I am sure that the ADV LaunchPad examination will allow us to select and support the best projects in these areas,}}

Шаблон:Quote 'author = noted by Vadim Dyakov, CEO of SOUNDLaunchpad, venture partner at Fort Ross Ventures.

Investing in Buyk product delivery service

At the end of June 2021, it became known about the investment of $46 million in the Buyk service. The most invested funds were Fort Ross Ventures ($15 million), Citius ($16 million), this amount also includes funds from unnamed international business angels) and CM Ventures ($15 million). More details here.

Investing in Explorium Data Collection Platform

In mid-June 2021, the Israeli data collection platform Explorium completed a series C funding round, in which it raised $75 million. The investment round was led by Insight Partners, and existing investors also invested in Explorium: Fort Ross Ventures, Zeev Ventures, Emerge, F2 Capital, 01 Advisors, Dynamic Loop Capital. More details here.

Investing $4.6 million in auto insurer Clearcover

On April 19, 2021, Fort Ross Ventures announced its investment the American in a company engaged in. insurance cars Clearcover The fund's investments in the company amounted to 4.6 million of dollars the total investments of round D - $200 million. More. here

Investing $10 million in Standard Cognition store automation system developer

In February, 2021 the developer of systems of automation  magazinovstandard Cognition attracted $150 million investments within Series C round. The Fort Ross Ventures fund which reported on March 15 about an investment of $10 million was among investors. More details here.

Investing in Blueshift Marketing Platform Developer

On February 24, 2021, Blueshift announced the raising of $30 million. The Series C funding round was led by Fort Ross Ventures, which invested $10 million. Avatar Growth Capital, Softbank Ventures Asia, Storm Ventures, Conductive Ventures and Nexus Venture Partners also took part in the deal. More details here.

Investing in the Rescale Cloud Platform

In early February 2021, Rescale attracted $50 million in investments as part of the Series C round. The investors included the Victor Orlovsky Fund, which invested $10 million in the startup. Taking into account this transaction, the volume of investments received by Rescale reached $100 million. More details here.

2020

$10 million investment in Ridecell fleet management platform developer

In early December 2020, Ridecell announced the closure of the Series C investment round, following which the company attracted $45 million in investments. Among those who invested in the developer of the platform for managing transport parks, there is the Fort Ross Ventures fund, which invested $10 million. More details here.

Launch of Fort Ross Late Stage Fund to invest in developed startups

In early November 2002, the management company Fort Ross Ventures announced the launch of the Fort Ross Late Stage Fund, which will invest in developed startups. More details here.

Creation of a third fund for 8 billion rubles

On September 10, 2020, Fort Ross Ventures announced the creation of a third fund. Its size is 8 billion. rubles Of this amount, he intends to invest up to 2 billion rubles. Sberbank More. here

Investing $10 million in Mynd Property Management

On June 29, 2020, it became known that Fort Ross Ventures invested American startup in the field. real estate Mynd Property Management The fund's investments in the company amounted to 10 million of dollars the total investments of round C - 41.5 million dollars. More here

Sale of a share in the CoverWallet

On January 17, 2020, Fort Ross Ventures Venture Fund announced the sale of its stake in the CoverWallet for $6.5 million. It was bought by Aon, a technology integrator in the field of insurance and healthcare. More details here.

Participation in Roofstock Startup Series D Funding Round

On January 13, 2020, Sberbank"" announced TAdviser that Fort Ross Ventures had invested in a California startup in the field, real estate Roofstock which completed financings a 50 million round of the D series. dollars Other well-known venture capital funds, USA including Lightspeed Ventures, Canvas Ventures, Khosla Ventures,, Citi Ventures and Bain Capital others, took part in the company's capital. More. here

2019

Investing in Kryon

On December 10, 2019, Sberbank told TAdviser that Fort Ross Ventures invested in Kryon, a company in the full-cycle robotic process automation (RPA) market, which allows organizations to continuously optimize processes and change the idea of ​ ​ the workplace of the future. More details here.

Investing in Instamart

On August 13, 2019, Sberbank announced that the management company Fort Ross Ventures will invest in Instamart, one of the leaders in the Russian food market. More details here.

Investing in warehouse robot developer Fetch Robotics

July 23, 2019 it became known about the attraction of Fetch Robotics about $46 million in investments. Among the investors of the manufacturer of warehouse robots was the venture fund of Sberbank SBT Venture Fund II. More details here.

Tufin Portfolio Company IPO in New York

Tufin Software Technologies, a provider of cybersecurity software, held an initial public offering (IPO) on the New York Stock Exchange, TAdviser was told in Sberbank on April 15, 2019. According to a statement by representatives of Fort Ross Ventures ( part of the Sberbank ecosystem), Tufin's IPO was the first major liquidity event of the venture fund portfolio company SBT Venture Fund I L.P.. A venture fund managed by Fort Ross Ventures was one of Tufin's early investors. More details here.

2018

Investments in an Israeli startup ThetaRay

The first investment of the SBT Venture Fund II, one of the investors of which is Sberbank, was the Israeli startup ThetaRay. This was told to RBC by the co-owner of the management company of the fund FortRoss Ventures Victor Orlovsky. ThetaRay specializes in detecting financial crimes and cases of money laundering at an early stage using artificial intelligence technologies.

SBT Venture Fund II, according to Orlovsky, participated in the round of raising funding for the ThetaRay, which took place in July 2018. During the round, the company raised $30 million. Among the investors, in addition to SBT Venture Fund II, were Jerusalem Venture Partners, the largest Israeli bank Hapoalim, the crowdinvesting platform OurCrowd, General Electric, the investment arm of Silicon Valley Bank and other companies. After the last round, the total investment in the startup reached $60 million. Orlovsky did not name the share of the fund.

Growth of SBT Venture Fund II to $120 million. Sberbank funds less than 50%

Initially, the size of the SBT Venture Fund II was $75 million. By September 2018, it had grown to $120 million, of which less than half were Sberbank funds, the rest were third-party private investors. Victor Orlovsky said that in the fund "more than ten investors - both legal entities and individuals." The maximum volume is declared at the level of $200 million. By 2022, the fund should end the investment period, and in 2027 - withdraw from assets and return money to investors.

The fund intends to invest in startups in the markets of the USA, Israel and Russia in the field of fintech, artificial intelligence and machine learning, as well as cloud services, cybersecurity and marketplaces. In October, the fund reported that investments in one project would amount to $5-10 million.

2017

Amount of funds managed by the company - $200 million

According to information as of November 2017, FortRoss Ventures is an international company (formerly named SBT Venture Capital and MoneyTime Ventures) that invests in AI, fintech, IoT, marketplaces, cloud technologies and blockchain projects. The amount of funds managed by the company is $200 million. Closely cooperates with Sberbank in the search, evaluation and promotion of portfolio companies of the fund in Russia and abroad.

Launch of SBT Venture Fund II in the amount of $75 million

In October 2017, FortRoss Ventures announced the launch of SBT Venture Fund II with a volume of $75 million, by the end of the year its size should reach $200 million.

2016

Investments in Uber

On July 7, 2016, Sberbank Venture Fund SBT Venture Fund I announced its investment in an Uber taxi call service. Details of the transaction are not disclosed.

It is known that the Sberbank fund took part in the investment round G, in which Uber raised about $12.5 billion and received a business valuation of $66 billion.[1]

Sberbank invested in Uber
File:Aquote1.png
We are very happy to invest in Uber. I am confident that this is a promising investment, both in terms of the potential of our cooperation and in terms of investment potential for the fund, "said Victor Orlovsky, managing partner of MoneyTime Ventures (managed by SBT Venture Fund I).
File:Aquote2.png

Sberbank notes that the deal with Uber "opens up opportunities for a variety of forms of cooperation in the interests of customers."

File:Aquote1.png
Investments from Sberbank will help us develop and effectively serve even more users and partner drivers in our country, "added the general manager of Uber Russia Dmitry Izmaylov.
File:Aquote2.png

Sberbank intends not only to invest in Uber, but also to use other opportunities for interaction with this Internet service. The largest credit institution in Russia is actively developing cooperation with companies of the new digital economy and is interested in improving the quality of customer service when they use popular digital services, including "on demand services." Sberbank's digital services should become a guarantor of reliability and convenience when customers interact with other Sberbank products and services, the bank said.

Investments in the Russian GridGain

In February 2016, MoneyTime Ventures, together with Sberbank and Almaz Capital funds and RTP Ventures (one of Leonid Boguslavsky's funds ), invested $15 million in the IT company GridGain Systems, founded by immigrants from Russia .

$40 million invested in 10 companies

According to MoneyTime Ventures, by the beginning of 2016, the fund had invested about $40 million in 10 companies. Among the companies in which the fund invested are fraud prevention software for online trading and payment services Identity Mind Global, Etoro investment social network, marketing and analytical platform for retail WalkBase.

At this time, MoneyTime Ventures is based in Russia, investing in fintech startups in the USA, Israel, Switzerland, Canada, Great Britain and Finland. The managing partner of the fund is Victor Orlovsky, general partner of the Sberbank venture fund .

Gref convinces Orlovsky to invest his own funds in the fund

After some time, Viktor Orlovsky himself volunteered to lead the fund. Gref agreed, but on condition that Orlovsky invest personal money in the project. "Everyone knows how to manage the bank's money, and I want you to earn and lose with us, treat this money as your own," recalls Gref's Orlovsky wishes. As a result, about 90% of the fund's funds are state bank money, the rest is the money of Orlovsky and Yakov Nakhmanovich, general partner of FortRoss Ventures.

Rename to FortRoss Ventures

Sberbank made the company independent (renamed MoneyTime, and then FortRoss Ventures), since it is more difficult for corporate funds to get to the best deals and their decision-making speed is much lower, explained Viktor Orlovsky.

2013: First Investment: Sequent Software

In July 2013, the American Sequent Software announced that it raised $12 million. The funds were invested by the Venture Technology Fund of Sberbank (SBT Venture Capital) with Opus Capital and Jado Investments, which had already invested in this project before.

This is the first investment of SBT Venture Capital. Victor Orlovsky, senior vice president of Sberbank, justifies the investment in Sequent Software by saying that the fund is "very interested in topics related to security and mobile applications." This topic is also relevant for Sberbank, so the fund is working on options and project initiatives for implementation at the bank.

Sberbank has long been interested in online payments. At the end of 2012, he even established control (75% minus 1 rubles) over the Yandex.Money system for $60 million. Yandex.Money is interested in mobile payment protection technologies, says Asya Melkumova, but there is no cooperation with Sequent Software on specific products yet[2].

2012: Sberbank creates a $100 million SBT Venture Capital fund

The SBT Venture Capital Fund was created by Sberbank in February 2012 with a volume of $100 million.

Notes