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, 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. 

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