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Solar Group announced the creation of the first industry venture fund in the field of information security in the Russian Federation
Integrated security architect GC Solar (a subsidiary of Rostelecom operating in the field of information security) announced the creation of an industrial venture fund aimed at developing new promising areas in the field of information security. The mission of Solar Ventures is to facilitate the entry of young companies in the field of information security into the Russian market, using the strategic advantages of one of the market leaders.
Solar Ventures will be the first and currently the only narrow-industry fund in Russia focused on information security products. Investment targets will include early-stage projects and companies that have reached the expansion stage. The fund's main focus is on new approaches to solving information security problems and experienced teams capable of creating and developing products in the untapped technological area of cybersecurity.
Solar plans to invest up to 1.1 billion rubles in the fund, which is approximately 5% of the total volume of the previously announced investment program, calculated until the end of 2025. The fund is open to syndicated transactions with the participation of large companies, funds and business angels interested in the development and implementation of Russian information security solutions.
"Venture investments are high-risk products available only to large, financially stable companies. We are consciously taking this step because we believe in the market and its potential. The formation of the fund creates strategic potential for long-term development of the company's product portfolio through breakthrough innovations and long-term investments, which will ultimately ensure the growth of the company's capitalization in the current market dynamics. "Years of growth and the dynamics of Solar's business show that even in the context of high interest rates, investments in information security can bring attractive profits," said Igor Lyapunov, CEO of Solar Group.
With the launch of the Solara fund, we hope to create a trend of strengthening systematic venture investment in the field of information security. In Russia, from 2017 to 2023, only 11 deals worth $8 million were recorded, mainly involving Russian state and corporate funds. The Solara initiative is designed to demonstrate that investments in internal cybersecurity are timely and promising. In 2024, information security will remain a supply market, so companies will need new domestic products.
Igor Kheresh, Director of Asset Management and M&A at Solar Group, emphasized: Solar aims to revive and support the cybersecurity industry by providing young companies with various forms of interaction, from free support to capital investments. Solar Ventures will become another tool for supporting promising teams. For us, one of the goals of venture investment is to participate in the growth story of startups, which allows us to consider other forms of interaction in the future. We can say that we are laying the groundwork for future M&A deals.
Solar is the largest strategic investor among Russian market participants. Since 2022, when the company announced the start of an investment program totaling RUB 22 billion, four M&A transactions have been completed and a strategic partnership has been concluded. We plan to conclude at least 15 new transactions over the next three years.