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Benchmark Capital buys Elecsnet shares

6th October 2006

Benchmark Capital Europe, one of the largest venture funds, has invested $2.0 million in the Russian Elecsnet company.

Elecsnet owns the payment processing terminal network. Benchmark Capital’s interest in Elecsnet is attributable to the unique nature of company’s services which are notable for countries with a high share of cash turnover, like Russia. Benchmark Capital is satisfied with Elecsnet’s leading position in the sector and is quite pleased that one of the company’s investors is Mint Capital which has already invested $10 million in Elecsnet shares. Analysts envision Elecsnet to acquire new technology using Benchmark Capital assistance. Elecsnet expects the same.

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