Cisco Systems has announced a venture capital initiative targeting the technology industry in Russia. Its first step will be to acquire nearly 30% of Ozon, an e-commerce site, with Swiss Index Ventures and Germany’s Holtzbrinck ventures. Ozon is currently controlled by Baring Vostok Capital Partners through a company named Internet-reshenia. Local reports indicate that Cisco’s investment will be in the region of $3-4 million (€2.25-2.99 million). Cisco has been supplying technology to Russia for a number of years and lists MTS, the country’s leading mobile operator, as one of its clients.