The fund will be used to develop high-tech and innovative projects through seed and venture financing
The Far East Development Fund (FEDF) in conjunction with Rusnano and the Russian Venture Company plans to create a far eastern Fund, responsible for developing and implementing high-end technologies, with the total capital of 10 billion roubles. The FEDF will invest in this project 1.7 billion roubles, the company’s press service revealed this information to TASS last Monday. Moscow was chosen to be the place where the government subcommittee, charged with implementing investment projects in the Far East, had its meeting, which was chaired by Yuri Trutnev, the presidential envoy at the Far Eastern Federal District. The meeting was attended by officials from federal and regional authorities.
The new fund will channel its money into promising, high-tech and innovative projects through seed and venture financing, the document says.
Earlier in March, the head of the Far Eastern Development Fund, Aleksey Chekunkov said that the FEDF together with Rusnano and the Russian Venture Company were planning to create a fund responsible for developing and implementing high-end technologies with the initial capital of 4.5-5 billion roubles.