New Russian fund intends to invest $100 million in AI/ML projects across Europe and Israel

15 September 2021

The Russian investment club Promising Projects and the AI Cluster of the Novosibirsk Akademgorodok have teamed up to launch a $100 million fund focusing on AI, ML, data mathematics and cybersecurity.

Dubbed ‘AI 1 Ventures’ and incorporated in Luxembourg, the new fund targets such areas as Eastern and Western Europe, including the Baltic states, as well as Israel. Tickets from $250,000 to $5 million will be invested in some 40 startups at the Seed and Series A stages over the next four years.

Russian investors are asserting themselves more and more actively on the domestic and global markets. Several new funds emerged lately, as reported by East-West Digital News.

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