New investments in Russian innovations

RVC will invest 4.5 billion rubles in joint funds with Skolkovo

Ekaterina Zagorskaya, Firrma

The Russian venture company will invest 4.5 billion rubles in three joint funds with Skolkovo. This was reported by Vedomosti.

The joint Working Group of Skolkovo and RVC will evaluate this application, which, if approved, will be considered by the Board of Directors of RVC. Deputy Minister of Economic Development Oleg Fomichev said that all decisions on the funds will be made before the end of the year. It is assumed that the funds will be managed by a subsidiary of Skolkovo – Skolkovo Venture Investments (a subsidiary of Skolkovo), the decision to create which was made in September at a meeting of the board of the Skolkovo Foundation.

The first fund will invest in IT, the second in biomedicine, and the third in industrial technologies. RVC will invest 1.5 billion rubles in each of the funds. Skolkovo will attract private co–investors who, within a year from the moment of creation, must invest at least 500 million rubles in each fund, and over the next two years - more than 1.5 billion rubles attracted by RVC. The average investment volume of each of the funds will be about 100 million rubles.

The mandate of the funds involves investments in Skolkovo startups, therefore, management by Skolkovo will ensure the quality of investments.

Firrma has already announced the intention of Skolkovo and RVC to create three joint funds. However, the volume of funds and the amount of investments were still unknown.

In April 2016, Russian Prime Minister Dmitry Medvedev instructed the Ministry of Finance and the Ministry of Economic Development to work out the integration of the Skolkovo Foundation and RVC. According to Oleg Fomichev, the joint funds of Skolkovo and RVC are being created to fulfill this order.

Portal "Eternal youth" http://vechnayamolodost.ru  01.11.2016