Зиявудин Магомедов ныряет в Caspian

 

It follows from Summa’s official report that the company has started working on the international venture market. The company’s representative underlines that this project is the brainchild of its shareholder Ziyavudin Magomedov, rather than the Group as such. William Shor who earlier spearheaded Summa’s division for venture investments is appointed as CVC Managing Director.

 

CVC is going to invest up to $300 million into startups at early stages. “Our average investments into projects will range from 1 to 5 million USD,” they specified at CVC that already has first trophy assets in its portfolio. Among them is the online taxi service Uber and the elite travel site Peek Travel. Furthermore the company is the investor of Uber China, where Uber is the main but not the only shareholder. Uber China’s co-owner is another Chinese company Baidu – developer of the eponymous web search engine, as Kommersant learned from CVC.

 

The company does not disclose the amount invested into those assets or who else provided the money besides Mr. Magomedov, promising to promulgate this information later. Mr. Magomedov and his partners are interested in transport, agriculture, manufacturing industries, consumer sector and robotics. Apart from getting a fair return on investments, another priority for CVC is the transfer of new technologies to Russia, according to the company’s management. That’s largely the reason why it invested in Hyperloop Technologies working on the vacuum train project promoted by the US venture capitalist Elon Musk.

 

Ziyavudin Magomedov already has some experience in supporting promising IT projects. Thus his Summa Group manages Peri Innovations – a business incubator created by Mr. Magomedov’s charity fund Peri in the city of Makhachkala back in September 2013.