Russian software house secures $200m from Baring Vostok Capital
So it’s not entirely unsurprising that the company has now received $200 million in return for a 9% stake from private equity firm Baring Vostok Capital Partners (BVCP) reports newspaper Vedomosti.
1C develops, distributes and publishes mass-market software and was founded in 1991. BVCP has previously invested in broadband telecom operator ER-Telecom but is better known for its stake in Yandex and OZON.ru.
The move should be seen as a wider move by VCs to invest in Russian software powerhouses. This January saw General Atlantic invest $200 million in security software vendor Kaspersky Lab.