The other sellers were Investment AB Kinnevik (publ), Accel Partners, Baring Vostok Capital Partners, and the founders, Filip Engelbert and Jonas Nordlander. The total cash consideration was USD 1.2 billion. Avito values the transaction at USD 2.7 billion, making it one of the largest deals in the European tech sector financed by venture capital.
Northzone was the first VC investor to invest in Avito in 2010, at that time a small but promising company in online platform advertising in the fast-growing Russian internet market.
Delphi’s team was led by partner Anders Lindström and senior associate Fredrik Mörner.