Rusnano, RVC, FEDF to form 10 bln ruble fund for investment in Far East
MOSCOW. July 19 (Interfax) - Rusnano, Russian Venture Company (RVC) and the Far East Development Fund (FEDF) will form an investment fund to invest in high-tech companies in the region, the state nanotech company said in a press release.
"The fund will focus on investing in high-tech companies in the Far East Federal District. The amount of resources channelled into projects with a nano component will amount to at least 30% of the investment portfolio," Rusnano said.
The partners will have equal stakes in the Far East Fund for Development and Implementation of High Technologies, Rusnano said. The fund will be set up in the form of an investment partnership, where Rusnano will act as general partner.
The fund will total about 10 billion rubles. The fund is being created for seven years, with an investment period of three years.
Investments in projects at the venture capital stage will total up to 100 million rubles, and investment in projects at the growth stage will total up to 1 billion rubles, Rusnano said.
The key sectors for investment will be new materials and coatings, engineering and instrument making, metallurgy and metal processing, energy, construction, robotics, as well as biotechnology and nuclear medicine, and optical and nano electronics.
A pipeline of about 30 companies has already been formed for the fund.
