Venture capital

Russia’s Sistema eyes second Asian fund

The Moscow-based conglomerate is looking to launch its second Asia fund in 2020, to capture the growth in the region’s burgeoning middle class. It is also expanding in Southeast Asia.

Russian conglomerate Sistema is looking to launch a second Asia fund in 2020, building on the knowledge gleaned from investing in India’s booming venture capital market.

Sistema, which has interests ranging from Russia’s largest mobile telephone operator MTS to children's goods retailer Detsky Mir, is looking to scale its Asian investment business.

It is targeting $1 billion of assets under management within five years, Vsevolod Rozanov, the chairman of Sistema Asia Capital, Sistema’s VC arm in Asia, told FinanceAsia in an interview.

Sistema Asia Capital focuses on minority investments in mid-stage consumer and enterprise tech startups in India and Southeast Asia....

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