RT Investment venture fund and Russian Venture Company create international venture fund
2 February 2012, Thursday
RT Investment venture fund and Russian Venture Company create an international venture fund for joining international venture funds. Such statement was made today by Tatarstan President Rustam Minnikhanov, Chairman of JSC “Russian Venture Company” board Ruben Vardanyan, and Director general of JSC “Russian Venture Company” Igor Agamirzyan at the forum “Russia-2012”.
IVF of the Republic of Tatarstan and Russian Venture Company have developed the plan of creating a joint fund with capital of 40 mln US dollars on a parity basis in Great Britain. A managing company of joint fund “RVC IVFRT Asset Management Inc.” is registered under jurisdiction of Delaware state (USA). ” Igor Agamirzyan is the President of RVC IVFRT Asset Management Inc. , Ainur Aideldinov – Director general. Office of RVC IVFRT LP is located on the territory of representation of Russian Venture Company in USA - Russian Venture Company USA Inc.
By creating such international fund IVF RF and RVF will get access to the most advanced practices of search, selection and realization of venture deals for using them at the Russian market and permanent presence at the international venture market among leading world funds. These world funds in their turn will have opportunity to enter domestic market.
According to Tatarstan President Rustam Minnikhanov creation of new fund is a very important event for Republic. “We understand only major international funds are able to solve serious tasks”, he said.
Head of Republic assured Tatarstan leadership would support the new fund. Ruben Vardanyan appreciated Tatarstan achievements in development of innovative economy.
Director general of JSC “Russian Venture Company” Igor Agamirzyan informed by signing this agreement partnership between RVF and Tatarstan would enter international level. The purpose of creating new fund is attraction of new technologies in Russia, including Tatarstan.
The fund will be functioning according to the standard regulations of venture investment by two sections, - joining leading world venture funds as a limited partner (first of all in Silicon Valley), and co-investment in technology companies at an early stage.
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