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Vostok Nafta invests $8 million in Russian online service

June 18, 2014, 13:55 UTC+3 MOSCOW
Yell.ru is a utility with user reviews about Russian companies and services to help consumers make better informed decisions when purchasing services or goods
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© ITAR-TASS/Mikhail Dzhaparidze

MOSCOW, June 18. /ITAR-TASS/. Swedish investment fund Vostok Nafta has invested $8 million in Russian online search utility Yell.ru, the fund said Wednesday in a press release.

Vostok Nafta said it would disclose more details on the deal in its January-June report on August 13.

“The investment in Yell fits very well with our special interest in companies with network effects characteristics and we look forward to supporting the company and its founders in the years to come,” Vostok Nafta’s Managing Director Per Brilioth said, as quoted in the statement.

Yell.ru is a utility with user reviews about Russian companies and services to help consumers make better informed decisions when purchasing services or goods.

The value of Vostok Nafta’s net assets amount to $517.5 million including net monetary assets of $152.3 million.

Vostok Nafta owns in 46.6% in Russian classified advertising Web site Avito.ru and 13.7% in Tinkoff Credit Systems (TCS Bank).

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