RDIF, RCIF and Mail.ru Group invest in the UCHi.RU online education platform
Moscow, December 8, 2020 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, the Russia-China Investment Fund (RCIF) and Mail.ru Group announce investment in the UCHi.RU online platform, one of Russia’s leading companies in online education, aimed at supporting UCHi.RU’s growth and its creation of new products.
The coronavirus outbreak and the switch to distance learning in Russia have driven demand for online educational services and tools. UCHi.RU is a leader in supplementary online education with more than 8 million students, 350,000 lecturers and 35,000 schools using the platform nationwide.
Upon completion of the investment RDIF and RCIF will acquire a minority interest. The transaction will support the technological development of UCHi.RU and help expand its product range. The company plans to improve its IT platform and create interactive tools and new educational products. It also plans to expand abroad in BRICS countries, the USA, Vietnam and other international markets.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund and Co-CEO of the Russia-China Investment Fund, commented:
“The switch to the remote provision of educational services has significantly increased demand for digital platforms. Thanks to the interactive educational platform UCHi.RU, millions of Russian schoolchildren can continue their education without leaving their homes and putting their health at risk. Over the past few months, RDIF, alongside its international and Russian partners, has actively worked on projects aimed at defeating the virus. However, it is equally important to support leading domestic companies whose products and services will help our citizens continue to live their everyday lives without compromising living standards.”
Boris Dobrodeev, CEO of Mail.ru Group, said:
“We are actively developing the education ecosystem of Mail.ru Group and expanding the range of services helping people – from pre-schoolers to teens and adults – to study and improve their skills. UCHi.RU platform is a leading player in the online education market, in demand both domestically and globally. We are happy it will continue developing alongside us and may integrate into ecosystem of Mail.ru Group in the future”.
Ivan Kolomoets, Co-founder and President of UCHi.RU, said:
“Classical education existed online even before quarantine: digital platforms and services were used, and mixed education formats were practiced in schools. However, due to the shift of schools to a distance learning format, the demand for online solutions has significantly increased. Users have appreciated the new opportunities and advantages of digital forms of learning. During the pandemic, UCHi.RU has increased access to its solutions and quickly developed new free distance learning products that are in high demand. Support from RDIF is an opportunity for UCHi.RU to increase the scale of product development necessary for the entire school community and to continue our steady growth.”
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 80 projects with foreign partners totaling more than RUB1.8 tn 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 has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at rdif.ru
Russia-China Investment Fund (RCIF) is a private equity fund that aims to generate competitive returns by investing in projects that advance bilateral economic cooperation between Russia and China. Further information can be found at www.rcif.com
UCHi.RU is the leading Russian educational online platform, where 8 million students from all the regions study school subjects in an interactive way at their own pace, learn programming and goal-setting, develop soft skills, prepare for All-Russian tests and basic state examinations, and also participate in Russian and international competitions. UCHi.RU is used in the educational process in schools, as well as for self-study at home. Using UCHi.RU’s technology, children are studying mathematics in the USA, Canada, China, India, South Africa, Brazil, Vietnam and Indonesia. UCHi.RU contributes to the goals set out in Russia’s national project “Education” and its federal projects, promotes the application of a digital educational environment model, and develops the digital competencies of teachers and school administrative teams.
For additional information contact:
Arseniy Palagin Andrew Leach / Maria Shiryaevskaya
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
Jessy Zheng Yury S. Trofimov
Russia-China Investment Fund Russia-China Investment Fund
Beijing, China Moscow, Russia
Tel.: +86 10 5762 9000 Tel.: +7 (495) 230-05-55 ext. 4243
Fax: +86 10 57629111 Mob.: +7 (985) 765-13-12
Mobile: +7 916 485 30 54