The Funds’ first investment in telecommunications was made in 1994 in FGI Wireless (which eventually became today’s Vimpelcom, one of Russia’s largest mobile telephony operators). The company was a pioneer in cellular network development in Russia. Since 1994, Baring Vostok funds have invested over $850 million in 30 companies in the internet, software, media, and telecommunications sector.


Leader in accounting software solutions
Moscow, Russia
Year of initial investments:
Minority stake

1С company was founded in 1991 and focuses on software development, distribution, publishing and support services. “1С” has a wide partner network of more than 10,000 partners in 600 cities of 25 countries including more than 6,700 companies in “1C: Franchising” network. Most well-known 1C software products are “1C: Enterprise” platform, desktop and educational products. “1C” is an official distributor of more than 100 software vendors.

“1C: Enterprise” software products are widely used on several millions workplaces for improving the efficiency of accounting and management in commercial and government sectors in Russia, Ukraine, Kazakhstan, Belorussia and several other countries.

Other projects


22 August 2012 offers a new format for services consumption – the HD.

Telecom services operator launches new bundled offers in all the 42 cities of presence, comprising the basic telecom services – high-speed internet, cable and HD TV, and telephony. The key characteristics of the bundles are the utmost speed of internet access (up to 100 Mbit/sec around the clock) and the highest number of HD channels in the basic TV package among digital TV operators (23 channels), which enables the company’s Subscribers to consume high-quality HD content in the most convenient manner – with the help of a TV set or in the internet from any video-supporting mobile device.
31 July 2012

Yandex Announces Second Quarter 2012 Financial Results.

MOSCOW AND THE HAGUE, July 31, 2012, Yandex (NASDAQ: YNDX), the leading internet company in Russia operating the country’s most popular search engine and most visited website, today announced its unaudited financial results for the quarter ended June 30, 2012.