Latham & Watkins advised IVI on a new funding round of US$250 million from external investors and current shareholders. The group of new investors was led by VTB and includes Invest AG and Millhouse. Flashpoint Venture Capital, Baring Vostok, and the Russian Direct Investment Fund (RDIF) with its partners were among the current shareholders who participated in the raise.

The deal is the largest private equity transaction in Russia’s tech sector in recent years, illustrating the high level of interest among investors in the fast-growing online video market, with a focus on high-quality content, and underscoring IVI’s market leadership. The funds raised will be used to further expand IVI’s content offering and production of own content, as well as further development of IVI’s advanced technological platform and marketing initiatives.

The Latham team was led by partners Olga Ponomarenko and David Stewart, with associates Timur Bayramov, Lepold Leonid, and Alexander Fedorkov.