Great Circle Capital has announced an investment of US$21.1 million in Moscow-based freight forwarding, warehousing, and customs services provider – STS Logistics. This is Great Circle’s second investment in the Russian logistics sector; the company invested $20 million in Moscow-based Russian Logistic Service last year.

According Great Circle partner Hew Crooks, the company has been aggressively tracking the logistics sector in Russia, and believes this investment will provide an opportunity for STS to dramatically expand its logistics business.

Proceeds from the Great Circle investment will be used to develop a network of Russian warehouses and open new offi ces to complement its existing offi ces in Russia and the CIS. Rustam Yuldashev, CEO of STS Logistics, said that the investment will help the company to create a network of eight to ten modern warehouses for a total of one thousand square metres in Russia, Ukraine and Kazakhstan.

STS Logistics maintains thirty regional offi ces, including branches in CIS countries, the Netherlands, China, Japan, and the US, as well as a network of partnerships around the world.