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January 16, 2008  |  Email This Article   |  Print This Article

Enforta closes on US$40M investment

MOSCOW (WiMAX Day). The Russian WiMAX network operator Enforta announced today that it completed a new US$40 million round of investment. The deal welcomes Bessemer Venture Partners, one of America’s largest venture capital funds, as a new investor. Ron Elwell, partner at Bessemer Venture Partners, said “We find Enforta one of the most interesting WiMAX opportunities in the world.” Existing investors include Baring Vostok Capital Partners, Sumitomo Corporation, and the European Bank for Reconstruction and Development (EBRD). Enforta president Lee Sparkman said in a press release today that proceeds from the investment will permit the company to roll-out its WiMAX network to an additional 40 Russian cities in 2008. By the end of this year, Enforta will serve an aggregate population of 55 million people. According to Victor Ratnikov, Enforta’s general director, “It is still early in the development of the Russian wireless broadband market, but Enforta plans to be amongst the leaders.”