36.6 pharmacy chain co-owner to invest in fintech

Credit: Nataliya Seliverstova| RIAN

The Altus Capital investment fund that recently purchased around 30% in the 36.6 pharmacy chain plans to invest in financial technology.

The investment company announced establishment of a subsidiary fund, AC Fintech Investments Fund, that is expected to have $100 mio to plow into. Altus Capital intends to provide up to 25% of the fund’s capital while also attracting external investors from both Russia and abroad. It has not been revealed yet what specific projects the fund will be dealing with. However, it was reported that at the first stage of operation, the new business unit will focus on developing foreign projects. The new fund will prioritize lending services, including credit scoring. Investment recipients must be based in Europe and target international markets.

Altus plans to close four deals by the end of the year. Altus Capital Managing Partner Dmitry Klenov says that the decision to establish the fund came as a response to customers’ feedback. Among these customers there are increasingly more wealthy millennials who are interested in investing into the trendy industry. The fund’s analysts also believe that the key factors indicating that fintech is a promising investment area include cost optimization of products and services thanks to implementation of new technologies and their expansion scale.

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