13.09.2010 Finam Capital completes exit from Astrostar

Finam Capital completes exit from Astrostar

Astrostar.ru, Direct Group and Finam Capital announce the completion of the transaction under which Direct Group acquired 100% of LLC “Astrostar.ru, Russia’s largest online provider of astrological content and services.

Astrostar was founded in 2006, Finam Capital acquired a 30% stake in the project a year later. Astrostar successfully grew to become the leader in the “infotainment” content market in Russia. This deal is the third in a row for Finam Capital this year, following the exit Alawar in February and acquisition of Banki.ru in July.

“We are satisfied with the completed transaction. Each party achieved its goals: the founders received the exit proceeds to start a new business, and Direct Group received a significant edge in a promising market. Finam Capital as a venture capital firm will reinvest proceeds from the sale of Astrostar for new equity deals in the Russian TMT sector”, said Alexey Basov, Director at Finam Capital.

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