The Venture Market Board at RVC was established in partnership with the Ministry of Economic Development. The board will be comprised of experienced professional venture investors, representatives of private and corporate business funds, business angel associations.
The purpose of the board will be development of Russian venture market and work on improvement of strategic solutions quality as well as preparation of investment policy programs and initiatives, establishment of standards, regulation of relationship and support of interests of venture investors in the Russian Federation. The Board activities will also be supervised by the Ministry of Economic Development.
The Board as a permanent deliberative body at RVC will assist in raising additional capital to venture market, facilitate transparency of working mechanisms, define current demands of professional market players and generate initiatives for their implementation and also attract co-financing and expert support of RVC initiatives approved by the professional investment community.
For example, one of key areas of activity of the Venture Market Board at RVC is development and launch of initiatives for attraction of new LPs (investment partners with limited liability) to market from among pension funds, state corporations and private persons. Legislative initiatives of the deliberative body will be aimed at improvement of legal and economic climate on the venture market: development of tax deduction practice for business angels, providing opportunities for private persons to act as LPs. The Board members will elaborate on GPs (general partner) certification mechanisms and creation of new system for statistics and disclosure of information related to outputs, profitability and investments. Furthermore, the Board will provide recommendations on correction of tools and opportunities of the National Technology Initiative for the benefit of venture market participants.