Summary:

A Russian government-backed fund of funds is putting $10 million into the Menlo Park venture capital firm behind Twitter, Zynga, Netflix (NS…

A Russian government-backed fund of funds is putting $10 million into the Menlo Park venture capital firm behind Twitter, Zynga, Netflix (NSDQ: NFLX) and other tech firms.

Russian Venture Capital II LP, a UK-registered fund managed by the government-established Russian Venture Company, is putting the money in to IVP XIII, a $750 million fund from Institutional Venture Partners (IVP) targeting later-stage U.S. technology and digital media companies, Quintura’s blog writes.

IVP’s portfolio has, over the years, also included MySQL, Akamai (NSDQ: AKAM), Ask and TiVo (NSDQ: TIVO). It was involved in Zynga’s big $180 million round in December and led Twitter’s big $35 million round last February 2009.

Russian Venture Company was created in 2006 as a fund of private funds, now headed by a former long-time Microsoft (NSDQ: MSFT) exec in Moscow. Its second such cash pot was set aside this summer in London.

Major Russian online investor DST has Facebook, Zynga and Groupon stakes.

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