AltaIR Capital, a Russian venture firm founded by entrepreneur Igor Ryabenkiy, has launched what is expected to emerge as a $300m fund to support start-ups at advanced development stages, Vc.ru reported.

The new fund called AltaIR ABO will invest in 30-50 start-ups across the world over the next three years. So far, the founders have raised more than $50m for the fund.

The Russian company will focus on the following tech areas: FinTech, distributed teams’ productivity and efficiency, insurance, digital medicine, EdTech, artificial intelligence, and machine learning.

The new later-stage fund is expected to invest in start-ups through purchasing shares from early-stage investors.

AltaIR Capital has launched four funds since 2005—and all are for early-stage start-up support. The firm has backed more than 300 technology start-ups and, as of March 2021, completed 20+ successful exits.