RDIF and other investors to invest in ivi, the leading Russian OTT Video on Demand service
Saint-Petersburg, June 6, 2019 - A consortium of investors, including the Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), Mubadala Investment Company (UAE), and other investors, including Baring Vostok Private Equity Fund IV, Flashpoint VC, RTP Global and Winter Capital, have reached an agreement to invest c.$40m in ivi, the leading Russian OTT Video on Demand service. The transaction expected to close by end of July, 2019.
ivi currently holds 42% of Russia’s licensed professional OTT Video on Demand market. The proceeds from the transaction will be used to further accelerate ivi’s growth and solidify its market-leading position.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The investments of RDIF and our partners aim to support and further develop the largest player in the Russia’s licensed online video content market. We have seen steady growth in this sector over the past few years and expect that with the help of our investment, ivi will be able to introduce advanced technological innovations and grow its audience. We are also pleased to announce a new joint investment with our long-time partner Baring Vostok”.
Oleg Tumanov, CEO and Founder of ivi,said:
“We are glad to be supported by our existing shareholders and attract additional capital from a pool of new investors led by RDIF and Mubadala. A strong interest of Russian and foreign investors is crucial for further development of Russian legal video-on-demand market. This investment will boost ivi development and provide an opportunity to improve content offering for our users, particularly, due to the expansion of our own content production.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru
iviis the leading OTT Video on Demand service provider in Russia. ivi enables its vast audience of over 40 million monthly active users to access the largest professional video catalogue of films, series, and animation in Russia, with over 80 thousand content units licensed from all six US majors and more than 400 international and Russian studios. ivi users enjoy multiplatform (Smart TV, website, mobile applications, STB, game consoles) access to the service around the world.
For additional information contact:
Arseniy Palagin Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41