New Russian VC Restart Capital launches

The fund was established by Dmitriy Filatov, a founder of online dating site Topface. Despite a small initial fund size, the firm will look to scale the vehicle up in the future.

Restart Capital plans on providing support to internet companies that are struggling to raise funds "in spite of having promising business models". The firm's prerequisites for backing a start-up include revenue generation and a working service.

Filatov explained that the timing of the fund launch comes in anticipation of the difficulties that will almost certainly be faced by Russian start-ups in the near future, due to the ongoing Ukraine crisis and the swathes of private equity and venture capital firms that are reportedly distancing themselves from the country.

The fund will focus on backing companies within social and mobile services, such as messaging and dating services; advertising businesses and marketplace operators; and financial services including cryptocurrencies.

Click here to read recent unquote" analysis of how GPs are reacting to the Ukraine crisis

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