Press about RVC

Far Eastern High-Tech Fund to Become Operator of Macro-Region Venture Fund

Source: TASS

The operator of the venture fund, which will finance high-tech projects in the Far East in the early stages, will be the Far Eastern High-Tech Fund, which supports larger-scale innovative projects in the macro-region. This was reported by TASS in the press service of the DFVT.

In September, the president instructed the Russian government to submit proposals on the creation of a venture fund in the Far Eastern Federal District to support the development of local high-tech projects, taking into account the activities of functioning development institutions and financial organizations.

“The operator of the new fund will be UK Far Eastern High Technology Fund LLC, which already manages a fund of 5 billion roubles and finances technological projects in the Far East at later stages — the stages of growth and scaling of an existing business,” the press service of the fund said.

The Far Eastern High Technology Fund was established in August 2018 by the Far East Development Fund (FEDF, part of VEB.RF), Rusnano, and Russian Venture Company to develop high-tech industries and innovative activities in the Far East. There are 5 billion roubles under management.

The DFVT invests in intelligent software and the industrial Internet of Things, alternative energy and energy storage, robotics, biotechnology, IT, and cloud solutions for business. The average investment of the fund is 100–150 million roubles.

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