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The Far Eastern High Technology Fund, Created in 2018, has Decided on its First Investments
11.06.2019 20:05
The Far Eastern High Technology Fund, Created in 2018, has Decided on its First Investments

The Far Eastern High Technology Fund (FEHTF), created in 2018, has decided on its first investments: the fund will invest 75 million roubles in the cloud telephony service for Hotlead business.

      The startup will receive the funds in the form of a convertible loan. In return, FEHTF will receive a 5% share of the company; by 2023, it will grow to 40-49.9%, depending on the financial performance of Hotlead. Besides, SkolkovoVentures that consults Hotlead, will receive 5% of the company.

      The service combines IP telephony, a CRM system, a virtual PBX and marketing analytics. FEHTF plans that by 2023 the company will occupy up to 20-30% of the cloud telephony market in the Far Eastern Federal District and up to 1.5-2% of market throughout Russia. The services of Hotlead are already used by the enterprises of the Far East, the government of the Khabarovsk Territory and the hospitals of South Korea.

      Read More Articles about Russian Economy and Business

Author: Anna Dorozhkina

Tags: Russian business Russian companies Russian startups   

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