
- Home
- Business
- Russia-China Investment Fund, Winter Capital Invest $10Mln in Algorithmics School - RDIF
Russia-China Investment Fund, Winter Capital Invest $10Mln In Algorithmics School - RDIF
Muhammad Irfan Published February 19, 2021 | 02:36 PM

The Russia-China Technology Investment Fund (RCTIF) and Winter Capital Partners have invested $10 million in Algorithmics international school of mathematics and programming, the Russian Direct Investment Fund (RDIF) said on Friday
MOSCOW (UrduPoint News / Sputnik - 19th February, 2021) The Russia-China Technology Investment Fund (RCTIF) and Winter Capital Partners have invested $10 million in Algorithmics international school of mathematics and programming, the Russian Direct Investment Fund (RDIF) said on Friday.
The amount represents the first investment made by the RCTIF, established by the RDIF and the China Investment Corporation, to support projects in core sectors of the Russian and Chinese economies, according to a statement by the Investment Fund.
"Investment in Algorithmics is aimed at supporting one of Russia's most promising companies in programming and mathematics tuition. Algorithmics' strong growth in recent years has laid a solid foundation for its successful international development and its emergence as a global leader. Algorithmics' unique educational content, based on the Russian methodology of teaching programming and mathematics, is in growing demand all over the world, and we expect that our joint investment will allow the company to continue its international expansion while bringing a high-quality Russian product to key markets," RDIF CEO Kirill Dmitriev said as quoted in the press release.
According to the RDIF, the new funds will be used to develop the educational product as well as to continue its international expansion by attracting new franchise partners, opening new schools and increasing the number of its students worldwide.
Algorithmics teaches children programming and mathematics in offline and online formats, using a unique methodology and its own platform. Since its foundation four years ago, Algorithmics has opened schools in 37 countries and secured more than 200 franchisee partners in more than 250 cities. Over 150,000 students receive education in Algorithmics annually. Mail.ru Group previously invested in the development of the school.
Recent Stories

Sharjah Public Libraries launches 'History of Letters and Diacritical Marks' exh ..

Ajman University secures ICANN grant to develop global internet security system

EGA starts-up final reduction cell in next generation technology pilot project

Dubai Chamber of Commerce, Ministry of Foreign Trade highlight role of CEPAs in ..

AD Ports Group signs MoU with Critical Minerals Forum to strengthen global suppl ..

EU foreign ministers to discuss situation in Middle East Monday

Kamran Akmal questions PCB’s selection process

Kapil Sharma’s café in Canada comes under gun attack

Ministry of Finance wins global award for AI innovation in financial sector

MBZUAI’s 'Undergraduate Research Internship Programme' draws record global int ..

UAE leaders congratulate President of South Sudan on Independence Day

PSX hits record high as KSE-100 surges past 134,000 mark
More Stories From Business
-
Ahsan stresses urgent need for media literacy charter
31 minutes ago -
Pak, Vietnam PTA within 2025, for sustainable trade growth
1 hour ago -
Pak,Vietnam reinforces economic ties during high-level ministerial meeting
1 hour ago -
Weekly inflation declines by 1.23% on year-on-year basis
2 hours ago -
Motorbikes, three-wheelers sale increases 32.5% to 1,518,752 units during FY 2025
2 hours ago -
PSX hits record high as KSE-100 surges past 134,000 mark
3 hours ago
-
Pakistan, Russia sign protocol to revive PSM
4 hours ago -
Tribunal upholds CCP’s order against price fixing in household appliances sector
5 hours ago -
Govt trim down profit rates on CDNS, savings schemes
5 hours ago -
Foreign exchange rates
7 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 11 July 2025
8 hours ago -
Today Gold Rate in Pakistan 11 July 2025
9 hours ago