Prostor Capital seeks new investor for online video solution provider Dulton Media
Prostor Capital is considering selling its majority stake in Dulton Media or “associating it with a strategic partner” to further develop it, the fund’s Managing Director Alexey Solovyov said in an exchange with East-West Digital News.
A Moscow-based startup specializing in online video solutions, Dulton is developing such projects as YaTV, a video broadcasting and video on demand service, and Eagle.Platform, a platform for the creation and monetization of video projects.
In 2008, Dulton secured an initial round of $2.2 million from undisclosed investors. Three years later, Prostor invested $1.3 million in the startup.
Solovyov denied feeling any dissatisfaction over Dulton’s performance: “They’ll reach the break-even point this year with a $2.5 million turnover,” he told EWDN. “In such a booming market, with 76% Russian users forecasted to be consumers of video content by 2015, this startup has a very strong development and valuation potential.”
“However,” Solovyov continued, “for further growth and stronger competitive positions, Dulton needs more fundamental support from an experienced strategic partner. Our principle is to invest initial funds and help businesses grow rapidly, but then hand them over to a relevant new partner.”
A fund co-created in 2011 by former Russian telecom minister Leonid Reiman, Prostor Capital concentrates on solutions for the public sector, healthcare and education. Among its projects are Dnevnik.ru, an award-winning online education network, health portal VitaPortal, and website builder UMI.ru.