The son of a leading Kremlin authorities continues to hold investments in the West in spite of being approved by the U.S., EU and Britain over Russias intrusion of Ukraine, The Moscow Times has learned.VK CEO Vladimir Kiriyenko whose father is President Vladimir Putins domestic policy chief Sergei Kiriyenko keeps relate to Titanium VC, an equity capital fund he co-founded that he has formerly utilized to buy tech startups.According to a court document acquired by The Moscow Times, he is now looking for to transfer his investments from an overseas business registered in the British Virgin Islands (BVI) to another overseas firm in Barbados.Kiriyenko filed a suit in July 2024 with the BVI Supreme Court to demand that shares of Titanium VC be moved from the BVI-registered offshore company Yalecrest to the Barbados-based Belvaux Management Limited.The court file signed by Kiriyenko states the worth of his claim at over $500,000.
The Pandora Papers investigation in 2021 called Kiriyenko as Yalecrests owner.
Files from the Paradise Papers examination link Belvaux to a villa at the Royal Westmoreland golf resort in Barbados.Kiriyenko and business partnerAlexander Ayvazov founded Titanium VC in 2013 with roughly $50 million.
The fund concentrated on Israeli startups, a number of which were later on obtained by major U.S.
firms.
Noteworthy deals included: Cloudyn, a cloud infrastructure tracking service, was obtained by Microsoft in 2017 for approximately $70 million.Nanorep Technologies, concentrating on virtual customer support solutions, was offered to LogMeIn in 2017 for $45 million.365 ratings, a sports media company, was acquired by British betting giant Entain in 2024 for $150 million.Drippler, a news app, was purchased by U.S.-based Asurion for $3 million.Mentad, a marketing platform, was obtained by American firm Code3.Titanium VC likewise purchased Russian companies, including a $7 million stake in the online gaming company Fabrika Online and the payment system CloudPayments, which was later offered to Tinkoff Bank.
Other investments consisted of the social app Wakie, the efficiency tool Any.do and several marketing innovation companies such as BrightInfo and FeedVisor.Forbes Russia previously reported that Kiriyenko funded Titanium VC using proceeds from the sale of a stake in Sarovbusinessbank.While the funds returns have not been revealed, Kiriyenko stated in 2016 that he had actually divested from Titanium VC after taking an executive function at Rostelecom.Since 2021, Kiriyenko has actually led tech conglomerate VK, which owns VKontakte, among Russias biggest social networks sites.VK recently re-registered its operations from the BVI to Russias Kaliningrad region.