Moscow-based venture capital firm Runa Capital has held a first close for its $200m-targeting second fund.
Runa did not disclose how much it has raised for Runa Capital II, which will target technology companies around the globe with a specific focus on Europe. It will invest in cloud computing, hosted services, virtualization, complex software and IT companies focused on the fin tech, education, healthcare and social segments.
LPs that have backed the fund are based in Europe, Russia and the US.
The firm expects to hold a second close on two or three times the current amount before the end of the year and wrap up the fundraise within 18 months.
Runa managing partner Dmitry Chikhachev said, “Large investors of Runa Capital II plan to invest to the second fund, their capital shall make the half of target size, which indicates their confidence in our investment strategy.
“Runa Capital II is international technology-focused fund, and investing in Europe is a big part of our strategy.”
The firm’s founder and senior partner Serguei Beloussov told Dow Jones earlier this month that most of the fund would be deployed outside of Russia.
He said the firm’s $135m first vehicle was more focused on Russian-speaking founders.
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