T-Capital (formerly Tinkoff Capital)

History

2025: Venture Fund Launch for Individuals

T-Investments is launching a venture capital fund that provides individuals with access to participation in fast-growing Russian companies with an expected yield of 35%. Representatives of T-Bank reported this to TAdviser on February 7, 2025.

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Фото: master1305 на Freepik

The fund gives retail investors a level of opportunity for big-equity holders while lowering entry barriers. As explained in the bank, this is achieved through the partnership of T-Investments with other venture capital funds that have access to the widest possible funnel of businesses.

In general, individuals will now be able to participate in transactions that professionals choose, with a small starting capital - from 500 thousand rubles. At the same time, retail investors get access to the most interesting transactions that were previously closed and behind the scenes, with the possibility of entering at an early stage (round A), when companies have the greatest growth potential. Investors will also be able to monitor the dynamics of portfolio companies by participating in regular organized meetings, T-Bank said.

The analysis and final selection of companies in the fund's portfolio will be conducted by the T-Capital team together with T-Investment experts. The main selection criteria are the following:

• technology companies with revenues of 300 million rubles per year and an expected growth rate of 30% annually;
• market segment leaders or companies with the potential to become one - with a strong team and a proven results effective business model;
• fast-growing industries such as FoodTech, platform solution development, software (SaaS), sports and medical technology, e-commerce and others.

The investment period will be 3 years, post-investment - 5 years. During this time, the company can scale products, strengthen its position in the market, increasing the overall valuation. Monetization of the fund's investments occurs due to the subsequent sale of the company's share to a strategic investor or exit to, IPO specified in T-Bank.

2024: Renaming to "T-Capital"

According to the Chekko portal, in June 2024 the name of Tinkoff Capital LLC was changed to T-Capital LLC.

2023: Change of ownership ahead of sanctions

Tinkoff Capital Management Company changed its owner before the introduction of sanctions against Tinkoff Bank in February 2023. This became known in early April 2023 from the reports of the management company.

According to Frank Media, citing materials from Tinkoff Capital, a few days before the introduction of EU sanctions against the bank (they involve freezing assets in the EU countries, as well as a ban on transactions with the bank), an agreement was concluded under the terms of which 99% of the Criminal Code passed into the possession of TKS. According to the Unified State Register of Legal Entities (USRUL), the transaction was completed on March 3, 2023, the publication said.

A few days before the introduction of EU sanctions, 99% of the Criminal Code passed into the possession of TKS

TKS is almost entirely owned by the Cypriot TCS Group Holding Plc, 1% is owned by Tinkoff Bank. Previously, the bank was one of the few large Russian banks that did not fall under sanctions. However, on February 25, 2023, the EU nevertheless imposed restrictions on the credit institution.

The representative of the Tinkoff group then repeatedly noted that Tinkoff was well prepared for such a scenario.

Our team has been working for many months so that you can use Tinkoff services as usual, regardless of external circumstances, the group said in a statement.

At the end of February 2023, Tinkoff Investments announced its intention to transfer assets to another company due to EU sanctions.

We prepared for any possible events and developed an infrastructure solution that will allow customers to seamlessly transfer assets to a new non-sanctioned company within one to three weeks. All familiar investment instruments and services will be fully available in the Tinkoff Investments application, the company said in a statement.^[1]

2019

Launch of BPIFs in Russia without brokerage commissions

On December 10, 2019, the management company Tinkoff Capital announced the start of trading in its own exchange-traded mutual investment funds Tinkoff - Eternal Portfolio Strategy on the Moscow Exchange.

According to the company, in the Russian financial market, the tariffication of trading in exchange-traded instruments will be built on the SuccessFee model - customers Tinkoff Investments will be able to trade shares for free, without standard brokerage commissions for transactions for the market. Customers will be charged solely for profits for successful deals - if the value of shares rises in price. The fee will be 10% of the increase in asset value and will be debited at the time of sale of shares or at the end of each calendar quarter, if the client decides to keep securities in the portfolio.

BPIFs Tinkoff - Eternal Portfolio Strategy are presented in three currencies - in rubles, dollars and euros. Funds in euros and US dollars may be especially interested in customers with foreign currency deposits in banks, the yield on which tends to zero as of December 2019.

Each fund, aimed at long-term and diversified investment, presents assets of four classes in equal proportions - these are stocks, gold, bonds with a maturity of up to a year and long-term government bonds. Rebalancing of assets back to the starting proportions will occur once a year.

The historical profitability of the Eternal Portfolio strategy is comparable to the profitability of the stock market: in rubles - 14%, in dollars - 7%, in euros - 5.8%. The best profitability of such a strategy for the year was: in rubles - 55.2%, in dollars - 18.6%, in euros - 17.1%. Positive returns for three- and five-year investment periods - in 100% of cases. The price threshold for the purchase of Tinkoff Capital BPIFs is maximally available for a wide range of investors - at least 5 rubles (for a fund in US dollars - 6 rubles and 7 rubles for a fund in euros).

Clients Tinkoff can manage their assets completely online - the purchase and sale of exchange-traded funds, customer service is carried out through mobile application Tinkoff Investments or a personal account on the website Tinkoff.ru.

To buy Tinkoff BPIFs, you need to open a brokerage account or IIS, log in to the Tinkoff Investments application or in your personal account on the Tinkoff.ru website, select a BPIF from the securities catalog, indicate the number of lots of security paper (1 lot=1 security) and confirm the purchase with a code from SMS. You can sell papers just as easily and quickly - the money will instantly go to your bank card. For December 2019, you can sell and buy shares on working days from 10:00 to 18:44 Moscow time, while trading on the Moscow Exchange is open.

View the composition and structure of the exchange-traded fund, check the financial condition of companies from the fund's portfolio, find out about all transactions with the fund's assets (receipt of dividends and coupons, transactions with securities, issue of shares, etc.), clients will also be able to read fund news at any convenient time in the Tinkoff Investments mobile application and in their personal account on the website Tinkoff.ru.

Announcement of the creation of the management company

Tinkoff will create its own management company Tinkoff Capital, it will begin its work in the last quarter of 2019. This was announced in June 2019 by the Chairman of the Board of Tinkoff [Hughes Oliver] during a panel discussion "Retail Investor - Driver of Stock Market Development" at the St. Petersburg International Economic Forum.

At the first stage of work, Tinkoff Capital will offer customers its own Tinkoff exchange-traded funds - a simple and transparent product line for investors without interval and closed funds.

Tinkoff Capital customers will be able to manage their assets completely online - the purchase and sale of exchange-traded funds, customer service will be carried out exclusively through the Tinkoff Investments mobile application or a personal account on the website Tinkoff.ru. So, at any convenient moment they will be able to look at the structure of the exchange fund, find out in which assets their funds are invested, check the financial condition of companies from the investment portfolio, etc. Such a strategy will completely eliminate the "black box effect," when, due to trade secrets, clients of management companies may most of the time not know the nature and state of their investment portfolios.

It will be possible to buy exchange-traded funds in the Tinkoff Investments mobile application in just a couple of clicks: immediately after the operation, the asset will appear in the client's investment portfolio. It will be possible to sell the paper just as easily and quickly - the money will instantly go to the bank card.

Other advantages of Tinkoff Capital include:

• the ability to buy assets in both rubles and US dollars;
• diversified long-term portfolios (by asset class and by instrument within each class);
• the ability to acquire hard-to-reach investment instruments - for example, Eurobonds of Russian issuers;
• high liquidity of securities;
• one of the lowest entry thresholds on the market - from 50 rubles;
• competitive commissions.

Oliver Hughes, Chairman of the Board of Tinkoff: "Tinkoff Capital is a fundamentally new approach to customer service for management companies in Russia, which involves maximum openness and trust. Our offer has two key advantages: high manufacturability, that is, everything can be done directly from a smartphone, and absolute transparency in asset management. Tinkoff Investments users will be able to control all processes on their own, without the need for a visit to the office, the participation of agents and other unnecessary complex procedures related to the purchase and sale of exchange-traded funds. "

Notes