Elbrus Capital has bought 23 per cent of the shares of Russia’s largest online business products and services marketplace B2B Center.
The company, which aims to help businesses save money on procurement, has hosted more than 230,000 procedures worth over RBL2.5tn ($80bn).
Last year B2B Center received funding from Da Vinci Capital Management through its second private equity fund, which is currently targeting $200m.
Da Vinci led a consortium of investors alongside Insight Venture Partners including Runa Capital and ALPHA Associates to pick up a minority stake.
Oleg Jelezko, a managing partner at Da Vinci, said at the time, “B2B-Center is expected to grow at a significant rate triggered by technology improvements, the needs of businesses to improve efficiency and profitability, and open access to the Internet.
“We are proud to have brought to it a group of first-class international investors and it demonstrates the interest from global institutional investors in high quality Russian companies.”
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