Development institute of the Russian Federation
To Project Authors
The Principles of Selection
The fund's assets may be invested only in innovative companies, whose activity conforms to one of the priority areas of the science, technology and technique development of the Russian Federation, or the products making part of the List of Critical Technologies of the Russian Federation.
Within the investment procedure, the Fund considers all investment projects sent in the format defined by the fund.
The fund provides innovative companies with monetary funds from RUB up to 15 million. The participation of the Fund in the project (share / interest in the created project company) is determined, depending on the project details and on the basis of an independent appraisal.
While appraising and selecting innovative companies the Fund considers the following main criteria:
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reputation and experience of the project originators;
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project team;
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scientific and technical project consistency;
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project economic feasibility;
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Future market developments.
Projects selection and financing procedure
Projects selection and financing procedure consists of the following stages:
Preliminary Project Analysis
It is conducted on the basis of the completed Engineering and Manufacturing Summary (EMS) of the project and includes, namely, the analysis and study of public information (available to the general public), study of the comments from the project originators, experts, specialists and partners of the innovative company. The complex analysis of the feasibility of the innovative project is given.
Engineering and Manufacturing Summary (EMS)
A thorough inspection of the innovative companies
It consists of measures of professional analysis and appraisal of the innovative company, its investment attractiveness and the reliability of the provided information. The audit includes economic, as well as scientific and technical expertise conducted on the basis of the business plan, financial model and project presentation presented by the project originator.
Transaction formation
It includes the key project parameters marked at the stage of the investment committee approval, as well as budget and legal documents.
Investment Company's Monitoring
In accordance with the transaction's terms and conditions, the Fund carries out constant monitoring of portfolio companies and plans the actions on the increase of their capitalization together with them.
Withdrawal from an investment company
The procedure of capitalization increase of a portfolio company may take from one to three years. then it is necessary to consider the possibility of withdrawal from the project, either by sale of share / interest to the strategic investor or venture capital fund (namely, it is possible to consider RVC Seed Fund as the next stage of project development), or through the purchase by the company's management. The decision is based on a number of factors, which include gaining of considerable results in the company's innovative potential, analysis of market dynamics development or the presence of a strategic buyer.
Documents on project selection stages
- Project preliminary analysis stage – completion and presentation of the Engineering and Manufacturing Summary (EMS) of the project for consideration (form to fill EMS).
- Stage of thorough project analysis – completion and presentation of the project business plan, financial model, project presentation for consideration (standard forms of business plan and presentation are presented).