SDVentures and SOL Holdings have jointly announced the formal launch of Dating.com Group, a merged entity which will act as the umbrella to several dating and social discovery products.
As part of the deal, SDVentures will receive $215 million in cash and an equity stake in the newly created business, which expects to see annual revenues of over $200 million.
SDVentures Founder Dmitry Volkov said: “I plan to dedicate a significant amount of my time and energy to the development of Dating.com Group, the new conglomerate.
“Our goal is to focus on the growth and promotion of new projects, as well as on investments, particularly in technology companies.”
Volkov, a General Partner at VC firm Gagarin Capital, has direct investments in companies including Patreon, Academia and Halo Neuroscience.
Alla Gubenko, Founder of SOL Holdings, added: “The deal between SDVentures and SOL Holdings not only increases the capitalization of our company, but also takes us to a new level.
“Partnership will allow us to expand our market presence and strengthen our global positions.”
Both SOL Holdings and SDVentures are headquartered in Malta.
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