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History
2024
Purchase of a 10% stake in the developer of information security solutions Luntry
On October 29, 2024, it became known that the Solar group of companies acquired a stake in Luntry (Claudran LLC), which specializes in the development of information security solutions. There is no information about the value of the transaction as of the specified date. Read more here.
Fund launch
On October 15, 2024, the Solar group of companies announced the launch of the first in Russia industry venture capital fund Solar Ventures. The fund, which amounts to ₽1,1 billion, aims to invest in startups developing products in the field of information security (IS).
According to Forbes reports, Solar Ventures will become the only narrow-industry fund in Russia specializing in investments in the field. cyber security The Director of Asset Management M&A and Solar Group Igor Heresh noted that the objects of investment will be early stage projects, as well as companies that have reached the scaling stage.
The volume of the fund is about 5% of the total investment program "Solar," designed for the period until the end of 2025 and estimated at ₽22 billion. Solar Ventures is open for syndicated transactions at the pre-sowing and sowing stages with the participation of large companies, funds and business angels interested in the development and implementation of Russian information security solutions. The fund plans not only to invest funds, but also to actively participate in the development of selected projects, which distinguishes it from standard venture funds.
Igor Heresh outlined the key criteria for attracting the attention of Solar Ventures to startups: the project should develop a vendor product for cybersecurity, have a motivated team and a minimally viable product (MVP). The Foundation is ready to support in finding the first clients and provide the opportunity to test solutions from its customers. During the year, according to Igor Heresh, it is planned to conduct several dozen new projects through the venture capital fund.
According to the Center for Strategic Research, in 2023, the Russian cybersecurity market grew by 28.5%, reaching ₽248,5 billion. This growth is taking place against the backdrop of a general decline in the venture capital market in Russia, where the volume of funds raised by startups in 2023 fell to a historic low in seven years.[1]
Notes
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