Fast Lane Ventures, a Moscow, Russia-based developer of internet companies, has received a $18m Series C investment.
The financing was led by VTB Capital Venture Business, a venture capital firm operating in the Russian and CIS market.
The funds will be used to develop Fast Lane Ventures’ current portfolio of companies, as well as provide finance for new investments. It will also be used to further strengthen the firm’s team and expertise.
Launched two years ago and led by CEO Marina Treshchova, Fast Lane Ventures has launched eighteen companies online, two of which have been successfully purchased by strategic investors. The investors list includes Direct Group, eVenture Capital Partners, Kinnevik, Russia Partners, Intel Capital, UMJ (Russia) and many others.