Maxim Shekhovtsov and Alexander Zhurba, the founders of TexDrive, a Moscow, Russia-based startup accelerator, launched a fund focused on IT projects.
Christened Genezis Capital invests from $25K to $1m per deal on seed stage and up to $20m per deal on growth stage.
The majority of the funds, 70% out of the total investments, are made into companies from IT industry with the remaining portion committed to sectors such as biotech, clean technologies, alternative energy and robotics.
Genezis works in Russian, US, European and Asian technology businesses.
Maxim Shekhovtsov will be Chairman of the Board of the Fund and Senior Partner along with Alexander Zhurba (CEO of TexDrive), who will be responsible for seed investments.
The vehicle made its first investment in late 2012.