Russia’s Sistema-backed online retailer Ozon raises $50 million from U.S. fund

MOSCOW (Reuters) – Russian online retailer Ozon, part-owned by the Sistema conglomerate, said on Tuesday it had raised $50 million from U.S. investment fund Princeville Capital through a convertible loan that can be turned into equity.

The fundraising was part of an earlier disclosed transaction in which Ozon raised $100 million from existing shareholders Sistema and Baring Vostok to help it expand its logistics and technology infrastructure.

Ozon said Emmanuel DeSousa, Managing Partner at Princeville Capital, joined its board following the transaction.

The company told Reuters earlier in March that it has talked to investment banks about a possible stock market listing.

(Reporting by Maria Kiselyova, editing by Alexander Marrow)