Cisco invests in Russia

Cisco became the anchor investor in a venture capital fund that will be focusing on tech startups in Russia and the Commonwealth of Independent States (CIS). The fund, Almaz Capital Partners, has been initially stocked with $60 million. Notes the economics blog paidContent.org, this certainly isn't Cisco's first investment in Russia. In April, 2007, it joined Index Ventures which in turned funded etailer Ozon to the tune of $18 million. Cisco says it is eyeing eastern Europe for its anticipated fast growh, particularly in Internet ventures, but also telecom and media. Cisco currently has put more than $2 billion in venture capital investments to work including equity investments in markets such as China, India, Israel and Europe and the U.S, it says. 

More from Cisco Subnet:
Cisco, others create organization to protect against patent suits
Cisco, Nivis demo 6LoWPAN IPv6 network
Real deal or PR move? Cisco, IBM, Intel, Juniper and Microsoft form new security consortium
Go to Cisco Subnet for more Cisco news, blogs, discussion forums, security alerts, book giveaways, and more.

• Cisco
• Russia
• venture capital