Governance
Potanin’s catalytic people takes 25% stake in selectel cloud provider
Russian billionaire Vladimir Potanin’s Catalytic People buys 25 % of Selectel as Russia pushes domestic cloud and AI development.
Headline
Russian billionaire Vladimir Potanin’s Catalytic People buys 25 % of Selectel as Russia pushes domestic cloud and AI development.
Context
• Russian billionaire Vladimir Potanin’s joint venture Catalytic People has acquired a 25% stake in cloud infrastructure provider Selectel valued at around 16 billion roubles ($206 million). • The deal underscores Moscow’s push for domestic AI and tech capabilities as Selectel posts strong revenue growth and Potanin expands tech investments. Russian billionaire Vladimir Potanin, through his joint venture Catalytic People — a collaboration between his holding company Interros and T-Technologies — has acquired a 25 % stake in Russian cloud and IT infrastructure provider Selectel in a deal valued at about 16 billion roubles ($206 million).
Evidence
Pending intelligence enrichment.
Analysis
The acquisition was announced by T-Technologies, which also owns online lender T-Bank, reflecting Potanin’s interest in broadening his technology sector footprint. Earlier in the year, Potanin expanded his tech investments by buying a 9.95 % stake in internet company Yandex, a firm often compared to “Russia’s Google.” Selectel has demonstrated robust performance, with revenue for the first nine months of 2025 rising by 42 % year-on-year, to 13.5 billion roubles, according to T-Technologies. The acquisition aligns with the Russian government’s stated aim of bolstering domestic artificial intelligence (AI) and cloud computing capabilities. President Vladimir Putin has emphasised the importance of home-grown AI models to maintain national technological sovereignty and encouraged Russian tech firms to close gaps with international competitors. Also Read: Putin directs Russian bank to partner with China on AI Also Read: Germany warns of Russian space threat to military satellites
Key Points
- What happened: Russian tycoon Vladimir Potanin expands tech footprint with minority Selectel dea
- Why it’s important
Actions
Pending intelligence enrichment.
