Government fund of funds
Development institute of the Russian Federation

Press about RVC

Private Investors will invest 600 million rubles in the National Technology Initiative fund.

24.05.2018
Source: ТАСС

The fund is created to support the innovation projects developing "cross platform technologies"

ST.PETERSBURG, 24 May. /TASS/. Private investors are going to invest 600 million roubles in the National Technology Initiative fund created by Russian Venture Company JSC (RVC). Memorandum on the fund establishment is executed at XXII Saint-Petersburg International Economic Forum (SPIEF).

The first private co-investors include "MC GazServiceComposite" JSC and "MC Lomonosov Capital", management partner of the fund is Kama Flow group of companies.

National Technology Initiative fund is created by RVC in order to support innovation projects developing "cross platform technologies" that are of critical importance to form new markets. They include big data storage and analysis technologies, artificial intelligence, blockchain, quantum technologies, new energy sources, robotics, virtual and augmented reality, neurotechnologies.

NTI is a program designed to create conditions to ensure leadership of the Russian companies on the new high technology markets that will determine structure of global economy in the nearest 15-20 years.

Fund size and the amount of attracted funds in the form of co-investments in the portfolio companies will be not less than 3.5 billion roubles, and 1.5 billion roubles are invested by RVC Infrafund for the account of NTI subsidy funds. The fund is created in the format of investment partnership for 10 years, investment period is five years. In April 2018, the winner of the open tender for NTI fund management is KamaFlow group of companies.

Venture investment

NTI fund will invest in the Russian projects of seed and early stages. Volume of investments in one portfolio company will be not more that 10% of total volume of investment obligations till otherwise decided at the general meeting of the partners. In total, the fund plans to invest in not less than eight portfolio companies.

"Fund establishment will ensure diversification of the financial support instruments for the NTI projects. We expect to use venture investments s addition and alternative to the grant support that stays the most frequently used mechanism yet. The fund starts active creation of the project pool, we plan to announce the first transactions till the end of 2018", Alexandr Povalko, RVC CEO noticed.

RVC JSC is a State fund of funds, one of the development institutions in the Russian Federation. The main objectives of RVC: stimulate creation of Russia's own venture capital industry and execute functions of the Project Office of the National Technology Initiative.

About forum

St. Petersburg International Economic Forum (SPIEF) is held 24 — 26 of May. Forum events are joined by the slogan "Creating economy of trust". TASS is the information partner and official photohosting agency at SPIEF. Besides, TASS is an operator of Presentation Zone at SPIEF with support of the EY consulting company and Foreign Investment Advisory Council.




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