Russian buys out Pixonic for USD 30 mln

Russian buys out Pixonic for USD 30 mln

It is considered a landmark deal for Ukrainian venture capital business

The CEO of Pixonic, Philipp Gladkov has confirmed the fact of the deal. He is happy that became a major shareholder buying out 100% stake from previous stakeholders of Ukrainian TA Ventures and Russian AddVenture II for the tune of USD 30mln.

TA Ventures became an investor of the startup Pixonic in 2011 participating in the investing round worth USD 5mln. The managing partner of TA Ventures Viktoria Tigipko told that the fund had received  a fair return on investments without going into detail. Meantime, the other shareholder AddVenture II is told of earning recompense 40 times bigger than their intial investments.

Elena Masolova founded startup Pixonic in Moscow and established AddVenture II. At the first place, Pixonic specialized in developing games for social networks, but after a couple of years it focused on mobile games.

After crisis times in 2014, Pixonic released War Robots game which became popular with 20mln downloads. As of present, the number of employees at Pixonic is more than 100.  

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