Russia’s Target Ventures opens office in San Francisco, invests $13 million in P2P lending platform Prosper

In a new illustration of the invest-abroad trend among Russian investors, Target Ventures announced last month the opening of an office in San Francisco. The fund’s first US investment went to Prosper, a leading US peer-to-peer lending marketplace, which received $13 million, as reported by Russian tech blog Rusbase.


“The Russian market isn’t big enough,” the fund’s managing partner Mikhail Lobanov told Rusbase. The domestic mobile Internet market is limited — even though it grew very fast over the past few years, — and “there are very few potential acquirers for Russian startups,” he added.


Read more