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.
CTC Media

CTC Media

One of Russia’s largest television stations. Fully exited in 2008
Moscow, Russia
Large minority
IPO on NASDAQ in 2006

The company currently owns and manages CTC, Domashniy and DTV channels, and owns two production companies - Kostafilm and Soho Media. It also manages Channel 31 in Kazakhstan, and television channels in Uzbekistan and Moldova.

StoryFirst Communications (later renamed "CTC Media") was founded by an American entrepreneur (Peter Gerwe) in 1989. From 1991 to 1997, the company attracted significant funding from global individual and institutional investors. In 1996, CTC Media launched the first Russian national television network, CTC, based on the American model. The company acquired and founded many regional television channels so as to cover the whole Russian landmass.

The value of the advertising market in Russia declined sharply after the 1998 crisis and caused a dramatic drop in revenue, which led several institutional investors to sell their shares. In early 2002, Baring Vostok Private Equity Fund purchased shares from these investors.

Development stages:

  • In May 2002, the company’s shareholders led a major review of its strategy. As a result, the decision was taken to increase substantially the amount of local. domestic content. After the Fund invested, Alexander Rodnyansky, former founder, CEO and producer of the biggest independent Ukrainian TV Channel, 1+1, was appointed CEO of the company. With Rodnyansky and his team in charge, CTC took up a strong position as a family entertainment channel and its audience began to grow rapidly.
  • In 2003, a restructuring was completed resulting in a significantly simplified shareholding structure and an agreement among the company’s three major shareholders (MTG, Alfa Bank, and the Fund).
  • In 2002-2006, representatives of the Fund headed the legal committee and organised preparations for an IPO. In 2004, Nilesh Lakhani became the new CFO.
  • In 2004, four television stations were acquired, which became the basis for a new channel called Domashniy.
  • In June 2006, the company successfully listed its shares on NASDAQ and the Fund gradually liquidated its position between June 2006 and May 2008.
  • The national audience share of the company’s channels increased from 6.4% in 2001 to 11.8% in 2006. Revenue grew from $47 million in 2002 to $472 million in 2007, while profit grew 15 times during the same period.

Other projects


07 November 2016

CFT in TOP-3 in CNews Analytics Rating.

CNews Analytics agency has published its annual review ”IT in Banks and Insurance Companies”, which includes a rating of major bank IT suppliers. The rating was based on the results of the activity of market participants in 2015. Center of Financial Technologies was second in the rating of Russia’s major IT developers.
13 September 2012 has been acknowledged the fastest Russian federal internet provider.

According to Net Index , telecom operator is the fastest federal internet provider in Russia. The average internet speed that provides to its Subscribers in 42 cities of presence amounts to 35 Mbit/sec., which is more than two times higher than the average internet speed in Russia (about 16 Mbit/sec.).

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.