Russia’s Rambler search engine and Afisha entertainment edition have set up a fund to invest in promising media and technology projects, Rambler said on Thursday.
“Rambler Fund will join at an initial stage when a project has just been launched or only exists as an idea,” the firm said in a statement.
“The project team will have to present a business plan and a prototype to raise financing. These could be media resources, solutions in the electronic retail sector, personal or mass communications. The key thing is that the project would create a single choice space for users.”
Initial investment in a project will amount to three million rubles ($107 million) for between six and 12 months. Afisha and Rambler, which are part of ProfMedia holding, will also share their technological and marketing resources and management experience with the companies they finance.