Yandex Joins Incubator

By The Moscow Times

Aug. 16, 2011

Yandex and Runa Capital plan joint investment in 10 information-technology startups, InCube, a business incubator affiliated with the Russian Presidential Academy of National Economy and Public Administration, said in a statement.

Yandex will provide financing for intensive preparation of the startups under InCube's accelerator program.

Sergei Belousov, board chairman of Parallels, and Alexander Galitsky formed Runa Capital in 2010 with $60 million in assets. It has provided financing to four projects and plans to invest in about 25 startups.

(Interfax)

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