Russian investment bank Troika Dialog has invested $4.25 million (£2.61 million) through its VC wing in web video distribution company Vidimax, in exchange for a majority stake. The release (translated via Google) says the company “will create Russia’s first open system for the publication and distribution of licensed video content”.
Yakov reports that 10 percent of pay TV subscribers in Russia watch online video and a new VOD service is expected to launch in Spring 2010. Vidimax was founded in 2009 and its CEO is Svetlanda Belova, formerly of multimedia video company Neville. Trioka manages three regional VC funds worth $50 million and recently took part in a $2 million funding round for Evernote.