Government fund of funds
Development institute of the Russian Federation

Regional Venture Capital Funds

There are 22 investment regional venture capital funds in Russia dedicated to small enterprises in the scientific and technical sphere (hereinafter – RVCF), established between 2006–2013 by the Ministry of Economic Development and Trade of the Russian Federation jointly with regional administrations. The total volume of RVCF amounts to 8.9 billion rubles. RVC is part of the supervisory board of such funds.

Starting in January 2010 all the projects which applied for the receipt of the investments from RVC have been compulsorily sent for expertise to RVC. The resolution to engage RVC as an expert was made by the Ministry of Economic Development and Trade of the Russian Federation, at the end of 2009, for the purposes of strengthening of the professional control over the procedures, under which the managing companies of the RVCF select projects for investment.

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