СFI: CIOJLS
ISIN code: KYG4986A1004
Check out our fund's listing on BLOOMBERG
Later Stage Growth
Capital Fund
FUND TYPE
Series B and Beyond
STAGE
Fully Invested
FUND STATUS
2011
VINTAGE
Launched in 2011, this is the original iTech Fund. It is now fully invested and in its exit stage. The strategy has been to invest in Series B expansion and beyond, aiming to grow global businesses by helping our companies expand into international markets.
Global
FUND REGION
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Find out more about iTech Fund performance and the investment opportunities we offer:
Portfolio Companies Funded
15
Successful Exits Achieved to Date
4
Capital Committed
US$ 100mn
22%
Expected Net
IRR (US$)
30%
Gross IRR (US$)
147%
RVPI
69%
DPI
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The fund is invested in five key sectors:
Online Travel & Ticketing
Aviasales
Aviasales is a №3 metasearch globally and the largest metasearch business in emerging markets. The company compares all flights deals that match customer's request and redirects him to the airlines' and travel agencies' sites to make a booking.

Founded: 2009
Industry: TravelTech
Our Fund: iTech Fund I
Year of the funding round: 2014
Funding amount: $US 10M

www.aviasales.com

Max Kraynov
CEO

«...Aviasales has been in the same boat with iTech Capital for more than five years, and we are pleased with the level of support and mentoring that the Fund provides to us. During this time, the Aviasales management team has developed a trusting relationship with representatives of the Fund, and we have successfully managed to distribute roles in our business development. In our life, no year is like the previous one, so we are all growing together to meet the expectations of the market and shareholders...»
TicketlandMTS
TicketlandMTS is a leading company in the Russian event ticketing market.


Industry: Online Ticketing
Our Fund: iTech Fund I
Year of the funding round: 2013
Funding amount: US$ 10M
EXIT: 2018

www.ticketland.ru

Vitaly Vinogradov
CEO TicketlandMTS

«...In 2012, we began work on the creation of a large ticket operator Ticketland joining efforts with iTech Capital. The Fund has been of great assistance in working with minority shareholders, in developing a strategy, implementing five M&A and building financial statements under IFRS standards. This work resulted in the sale of the company to the strategic investor MTS in 2018. The search for the buyer, negotiations and the whole transaction was carried out with an active participation of the Fund. It is important to note an outstanding technological expertise of the fund's employees and the manager. The human and friendly support of Gleb Davidyuk and his colleagues has been of great help to me many times. I am grateful for their experience and pleasure of cooperation with them...»

FinTech
Bitfury
The Bitfury Group is the largest full-service blockchain technology company in the world. They develop and deliver cutting-edge software and hardware solutions necessary for businesses, governments, organizations and individuals to securely move assets across the blockchain.

Founded: 2011
Industry: FinTech; CryptoTech
Our Fund: iTech Fund I; iTech Fund II
Year of the funding round: 2015; 2018
Funding amount: US$10M

www.bitfury.com

Valery Vavilov
Founder and CEO

«...In any successful business, reputation and teamwork are important. At Bitfury, one of our objectives is to surround ourselves with good people who keep up with the times, share our vision and open doors to global economic opportunities. Our experience with iTech Capital to date has been positive. iTech Capital is a founder supportive fund, which is important for any growing company. This is especially true in a new industry like blockchain, as we are developing our company while the market itself evolves. The iTech Capital team looks far into the future and shares our views on building new technology that will change the world...»
TradingView
TradingView is a cutting-edge web-based financial platform for traders and investors to improve investing skills and maximize profits with more than 7 million traders worldwide. A
Founded: 2010
Industry: E-commerce
Our Fund: iTech Fund I
Year of the funding round: 2014
Funding amount: $4.4M USD

www.tradingview.com

Ruslan Fazlyev
Founder and CEO

"..Gleb Davidyuk is a true gentleman of investment business in Russia, and he is the reason why we in Ecwid work with the fund. The best indicator of the pace in which the fund operates is that only three weeks have passed from the first meeting to the closing of the deal."
E-Commerce
Ecwid
Ecwid provides online selling solutions for small businesses in over 175 countries and in 54 languages.

Founded: 2009
Industry: E-commerce
Our Fund: iTech Fund I
Year of the funding round: 2014
Funding amount: US$ 4.4M

www.ecwid.com

Ruslan Fazlyev
Founder and CEO

«...Gleb Davidyuk is a true gentleman of investment business and he is the reason why we in Ecwid work with the fund. The best indicator of the pace in which the fund operates is that three weeks have passed from the first meeting to the closing of the deal...»
Big Data
MFMSolutions
MFMSolutions provides SMS services to financial organizations, including banks, insurance companies, and asset management companies.

Founded: 2005
Industry: Big Data
Our Fund: iTech Fund I
Year of the funding round: 2014
Funding amount: US$ 5M

www.mfms.ru

Pavel Sorokin
Co-founder

«...Gleb is a man of his word and business. He speaks on substance even if it is not very pleasant at times. In team work, the fund team behaves like a full-fledged participant in business, if something was needed, they were actively responding to the need. Gleb and his team are very adequate, thoughtful and high-performing people, literally a few are like them...»

Anton Shishkovsky
Co-founder

«...During our cooperation, the iTech Capital team has proven themselves as a reliable and very useful partner. The fund really gives portfolio companies so called „smart money" - they keep our freedom in making decisions, while helping with ideas, experience and useful contacts...»
MarketingTech
Clickky
Clickky is a programmatic platform for mobile advertisers and publishers which offers programmatic, performance and video solutions. Since the end of 2016 the company operates its own RTB Marketplace and SSP. Direct publishers can connect their inventory to Clickky's SSP through a self-serve interface.

Founded: 2010
Industry: MarTech
Our Fund: iTech Fund I
Year of the funding round: 2015
Funding amount: US$ 2M

https://clickky.biz/

Vadim Rogovskiy
CEO and Founder

«...We are happy to cooperate with iTech Capital since the very beginning; I believe it is one of the most active and professional VCs in Eastern Europe...»

Realweb
RealWeb is a context and media advertising agency, one of the oldest and most skilled digital marketing agencies in Russia. The company uses it's own high-tech solutions (AdHands, Garpun) to manage customers marketing campaigns.

Founded: 1998
Industry: AdTech, MarTech
Our Fund: iTech Fund I
Year of the funding round: 2013
Funding amount: US$ 3.6M

www.realweb.ru

Maxim Vinogradov
CEO

«...Realweb and iTech Capital have established not just working relations, we see much more in our colleagues - real friends, loyal comrades. The advertising market is boiling up and changing before our eyes, but for many years now we have been growing at a faster pace and developing together. And this is just the beginning...»
IconText
iContext is an online advertising group that incorporates iContext agency (context advertising for large clients), Registratura (context advertising for SME), iSeo (search engine optimization company), Sociorama (advertising in social networks), and Webprofiters (web analytics). iContext is currently one of the leaders in the independent online marketing industry in Russia.

Founded: 2002
Industry: AdTech
Our Fund: iTech Fund I
Year of the funding round: 2013
Funding amount: US$ 4M

www.icontext.ru

Maria Chernitskaya
President of Icongroup, Vice-President of IAB Russia

"...We are with iTech Capital for more than five years. Through that, we have obtained the opportunity to communicate with other interesting projects in which the fund is investing. At general meetings we communicate, learn interesting digital insights and share experiences. This background helps us all grow. We are happy to participate in the annual conferences of iTech Capital, and this format of communication helps us to develop business and grow as entrepreneurs, to become even better, higher and stronger. It is very valuable..."
PromoPult
PromoPult is an automated search engine marketing optimization company enabling SMBs and private individuals to build effective online marketing campaigns. One of the pioneers of SEO businesses in Russia and the dominant player in the field.

Founded: 2008
Industry: MarTech
Our Fund: iTech Fund I
Year of the funding round: 2012
Funding amount: US$ 16M

www.promopult.ru

Alexey Shtarev
CEO

«...We are cooperating with the iTech Capital Fund since 2012.Together we passed the path from the SEO service to an automated advertising platform covering all areas of Internet marketing. Persistent advice to work in the international direction bore fruit - now the service is popular in Poland and Indonesia. In what Promopult has become now, must be admitted considerable merit of Gleb and the team - we appreciate the advice and competent approach to our partnership. We have big plans - and we are confident that we will achieve them, thanks to the strong support of the fund's team...»
TicketlandMTS is a leading company in the Russian event ticketing market. The Fund invested US$ 10mn in 2013.
Development of the most recognized brand across the market
US$ 100mn turnover achieved - 2017
All-ticket market share increased from 20% to 42%
70% market share in theatre tickets achieved
10x increase in e-ticket sales
(77% of tickets purchased online)
Key milestones achieved during iTech investment:
The largest mobile operator in Russia and CIS.

The exit was completed in 2018, with Ticketland Holding acquired by MTS for RUB 3.23bn.
"...In 2012, we began work on developing Ticketland as a large ticket operator by joining forces with iTech Capital. The iTech Fund has been of great assistance in numerous areas: working with minority shareholders, creating a strategy, implementing five M&As, and building financial statements under IFRS standards. The result was the sale of the company to the strategic investor MTS in 2018..."
TradingView is the world's largest social network for traders and investors. The Fund invested US$ 3mn in 2015.
Key milestones achieved during our investment include:
Development of comprehensive marketing strategy
10x increase in recurring revenue
Top-500 Worldwide Alexa Daily Rank achieved by website
Churn rate reduced by 50% to 6.5%
MAU grew from US$ 500k to US$ 8mn
Leading VC/PE fund with US$ 18bn AUM.

In 2018 As lead investor, Insight Venture Partners
together with Jump Capital and DRW Ventures, invested US$ 37mn in TradingView, including a partial cash-out for the iTech Capital stake.
Bitfury is the world's largest full-service blockchain technology company. The Fund invested US$ 10m in 2015, and partially exited in 2017 with a sale to Credit China FinTech. In 2018 we again invested in the company through the iTech Fund II.
"...In any successful business, reputation and teamwork are important. At Bitfury, one of our objectives is to surround ourselves with good people who keep up with the times, share our vision and open doors to global economic opportunities. Our experience with iTech Capital to date has been positive. iTech Capital is a founder supportive fund, which is important for any growing company..."
Valery Vavilov
Founder and CEO
Vitaly Vinogradov
CEO TicketlandMTS
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