RUSSIA - DFJ and VTB team up to launch Russian venture capital fund

Draper Fisher Jurvetson (DFJ), the international high-technology venture capital firm, has partnered with Russian commercial banking group VTB to form a new Russian venture capital fund, DFJ-VTB Aurora. The team will manage a family of funds, which are ruble-based and convert to approximately $150m of capital for investments in Russia and the CIS. Planning is underway for an additional off-shore fund with flexibility to invest in technology companies headquartered both inside and outside of Russia and CIS.