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Uber’s Russian backer Sberbank is setting up a new, $250M venture fund

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The world’s most valuable startup has brought a lot of value to its investors. Uber’s investors have not only received financial returns, but are also better known, thanks to the funds they provided to the cab aggregator. Well, Russian bank Sberbank, which invested in Uber from its international fund a few years ago, has decided to set up another $250 million VC firm.

The new fund also has a 10-year time line and will put somewhere around US$200-250M into portfolio companies. Interestingly, the round isn’t financed by Sberbank alone but also has various private investors pitching in. The bank is also in talks with Chinese investors we may eventually see some of them come on-board later.

Meanwhile, the funding will cover A, B and C rounds and on an average, will put in somewhere around $5 million in each of its ventures.

Sberbank is a Russian banking and financial services company with its headquarters in Moscow. The company is rather well known in European and post-Soviet countries, where it has large operations. While you may be unfamiliar with its name, in 2014 it was pronounced as the largest bank in Russia and Eastern Europe, and the third largest in Europe.

It is also one of the oldest banks around and was founded almost 175 years ago, in 1841.

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