Press about RVC

RVC Approves Three Times More Transactions Due to Pandemic

22.10.2020
Source: PRIME

RVC OJSC exhibition stand
© RIA News. Grigory Sysoev

Russian Venture Company (RVC) tripled the number of deal approvals against the pandemic's backdrop, Alexei Basov, Deputy General Director, Investment Director of RVC, told RIA Novosti.

Russian Venture Company (RVC) tripled the number of deal approvals against the pandemic's backdrop, Alexei Basov, Deputy General Director, Investment Director of RVC, told RIA Novosti.

In September, Dsight presented a study according to which the volume of venture capital investments in Russia due to the coronavirus pandemic in the first half of 2020 decreased by 2.7 times, to $183.8 million. According to Basov, a decrease in the volume of investments in the market is inevitable. Simultaneously, the number of venture capital deals in the second half of the year will rise sharply compared to the first one, as investors and companies are trying to carry out the agreements postponed due to the pandemic.

“A decrease in the volume of investments will certainly happen. It is inevitable. Many investment decisions were postponed to the second half of the year. Now we see a large number of transactions that investors and entrepreneurs plan to close this year”, he said at the Moscow International Forum — Open Innovations.

“RVC, for example, now approves about 10–12 portfolio fund transactions per week. Previously, this figure was about three or four transactions per week”, added Basov.

RVC is a state fund of funds, an institution for developing the Russian venture capital industry. Currently, its portfolio includes 29 funds with a total capitalization of 64.4 billion roubles. The main objectives of the Company are to stimulate the creation of Russia's own venture capital industry and execute functions of the Project Office of the National Technology Initiative (NTI).

RIA Novosti is the official news agency of the Open Innovations Forum.



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