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New Seed Fund Announced By Russian Venture Company

Posted Tue, 23/06/2009 - 14:21

A new seed fund designed to aid Russian start-ups is on the horizon as Russian Venture Company (RVK) refocuses its investments to better support Russian technology companies. RVK publicly announced, through the firm's General Director, the establishment of a new seed fund valued at RUB 2 billion.

The fund plans to invest in 50-80 companies over the next several years. RVK will invest up to RUB 25 million for a minimum 25% stake in each target company. Of the total funding provided, 75% will come from RVK with the remaining 25% coming from other private investors.

Russian Venture Company
Russian Venture Company was established in June 2006 as a "fund of funds" with the goal of provided funding to 6 venture capital funds. Another fund was added later bringing the total to seven, which include VTB - Venture Fund, Bioprocess Capital Ventures, Maxwell Biotech, Leader - Innovations, Tamir Fishman SI Ai Gee venture fund, P-Group Ventures, and New Technologies.

With nearly RUB 19 billion currently invested RVK look for opportunities in the biomedical, energy, environmental management, industrial materials, IT, security, and transportation sectors. The firm is based in Moscow.