Ziyavudin Magomedov establishes Caspian VC Partners venture fund worth 300 million U.S. dollars
Makhachkala, September 9, 2015. The chairman of the Board of Directors of the "Summa" group Ziyavudin Magomedov has established a venture fund Caspian VC Partners with an investment of $ 300 million, the company representative in Dagestan said.
Caspian VC Partners plans to invest in the projects in the early and middle stages. The fund has already been replenished by the Uber, Uber China, Peek Travel, Diamond Foundry and Hyperloop Technologies companies. However, the size of investment and the share of investors is kept confidential.
The new fund will invest in the high-tech start-ups in transport sector, agriculture, industry, consumer sector, as well as in the field of robotics. Ziyavudin Magomedov is not indifferent to the venture capital market. Magomedov initiated the opening of branch of the international business accelerator Plug & Play in September 2013 based on Dagestan State Technical University in Makhachkala.
It should be noted that in March 2015, the business accelerator re-branded its name into "PERI Innovation".