By Andrei Skvarsky.
Fastlane Ventures, a Moscow-based venture capital firm specialising in support for startup Web businesses, has given a seat on its board to Kenges Rakishev, a Kazakh tycoon and high-profile international technology industry investor.
Fastlane received a $13m investment from Rakishev, according to a statement from the company, which takes about 50 days to launch a firm and has already helped 20 businesses to get going.
Since its foundation in 2010, Fastlane, which normally helps Russian and other CIS companies, has raised more than $85m from Russian and international investors, including its three strategic partners, VTB Capital, Direct Group and e.ventures.
Rakishev, a noted global business leader, has been named by Forbes as one of the 50 most influential people in Kazakhstan.
International technology companies that his money has helped to get off the ground include Israel-domiciled Mobli, a real-time media visual platform, TriPlay, a New York-headquartered media delivery platform and provider of services for sharing personal digital content, and Net Element, a Miami-based mobile commerce and payment-processing group.