According to a representative of Yandex, the Russian Internet giant invested the maximum amount Seedcamp would agree with. In addition to sharing knowledge and expertise with startups, as an institutional investor at Seedcamp, Yandex can now participate in choosing projects for investment and advise on Seedcamp’s own decisions. Yandex will also acquire a small stake in each project supported by Seedcamp.
In its new role, Yandex will have an great opportunity to watch over and directly contribute to the startup ecosystem in Europe. Conversely, the European startup teams will benefit from Yandex’s expertise in technology and knowlege of the Russian Internet market. They will also have a chance of receiving additional investment directly from Yandex.
Startups have long been a subject of interest for Yandex. In 2011, the Russian search engine started its own seed investment program, Yandex.Factory. It was launched with the aim to handpick hot startups in the early stages of product development and give them a boost with funding and expert advice. Since the program program started, over 2,000 teams have applied for investment support.