Siguler Guff & Co to invest in Russian broadband, mobile telephony
SOCHI. Sept 16 (Interfax) - Siguler Guff & Company will invest in Russian companies in the information technology sector, the New York-based private equity firm's managing director, Drew Guff said at the Sochi-2011 forum on Friday.
The firm's new fund, called Russia Partners in technology, will begin operations by next week, targeting broadband Internet access, information network infrastructure, mobile technologies and mobile telephony, he said.
The fund will invest in innovation and modernization, acting as a kind of bridge between global venture capital funds and what exists in Russia, Guff said, adding that his firm wants to make this sector more dynamic in Russia.
In future, the fund may also be interested in healthcare and software, he said.
Siguler Guff & Company has more than $10 billion in assets under management. The firm's investors include pension funds and the national funds of government from Europe and Australia.
Guff said Siguler Guff & Company intends to become a co-investor in the Russian Direct Investment Fund.
The firm will work RDIF head Kirill Dmitriyev and invest jointly, he said, adding that this would be an important experience and process.
Siguler Guff & Company has been working in Russia since 1991 and in 1994 established the first private equity fund in the country, Russia Partners with capital of $155 million. Investments in growing Russian companies have now topped $1 billion. Investment projects include software producer EPAM Systems and online discount service KupiVIP.
Russia will continue to be a priority investment target for the firm, Guff said.
