Sberbank planning to invest in several large high-tech projects

MOSCOW. April 10 (Interfax) - Sberbank is planning to invest in several high-tech projects, and expects returns comparable to its return on equity, First Deputy Executive Board Chairman Alexander Vedyakhin said.

"Sber is currently considering several rather large investments in deep tech [companies that offer products and services based on the latest technologies], [...] Russian funds are very interesting in our opinion," Vedyakhin said at the Open Innovations forum.

"According to our estimates, the return there should in fact be comparable to Sber's return on equity, meaning 20% plus, which is generally a good return," Vedyakhin said.

Vedyakhin said that it is possible to exit these investments in 8-10 years, as the deep tech funds conclude.

Vedyakhin said that there is currently a trend for the active influx of investors in the venture market for deep tech. Meanwhile, the high key rate of Russia's Central Bank has been limiting investment in the area, as the rate contributes to high rates on other investment instruments, for example, deposits, he said.

"When the key rate falls, the alternative return [on investments in deep tech] increases sharply, thus we believe that by the end of the year, next year there should be substantial growth in the flow of money into funds associated with deep tech," Vedyakhin said.

Vedyakhin said that while the share of private investors in technology startups was 15% previously, it has now reached 50%.