BRIEF-Russian online cinema IVI raises $250 mln from investors

Reuters, 26.05.2021

MOSCOW, May 25 (Reuters) - Russian online cinema IVI says:

* IVI closed a new funding round of $250 million from both external investors and current shareholders;

* The group of new investors was led by Russian bank VTB and includes Invest AG and Millhouse;

* Flashpoint Venture Capital, Baring Vostok and Russian sovereign wealth fund RDIF with its partners were among the current shareholders who participated in the raise;

* As a result of the funding round, VTB will become one of IVI’s largest shareholders, alongside Baring Vostok, RTP Global and Flashpoint, and will be represented on IVI's Board of Directors;

* The deal is the largest private equity transaction in Russia's tech sector in recent years;

* The funds will be used to further expand IVI’s content offering and production of own content.