Press about RVC

In 2018, RVC may create a venture capital fund with the Chinese Shenzhen Capital Group and TusPark

Source: TASS

SOCHI, 5 December. /TASS/. Russian Venture Company (RVC) may create three venture capital fund of funds, together with the Chinese Shenzhen Capital Group, Tsinghua University Science Park (TusPark) and the private Sino-British venture fund. Acting General Director of RVC Evgeny Kuznetsov informed TASS about it on the sidelines of the "Ecosystem of innovations" Forum.

"We have received a proposal for the establishment of three funds — from the oldest and most influential Shenzhen Capital Group, from the University Foundation Tsinghua University TusPark and from the private Sino-British fund", said Mr. Kuznetsov, adding that the number of proposals could be even higher.

According to him, the funds may be established in 2018. According to Kuznetsov's preliminary estimates, a joint fund with TusPark will be a seed fund, and its size will be about $ 10 million. The volume of the remaining funds will be equal to tens of millions of dollars, said General Director of RVC.

"China is interested in two types of technologies: Global prospective technologies (biotechnologies, IT, the Internet of Things — Editor's note) TASS) — a new industry — where the Chinese are not let by the United States and Europe. And the old industry (chemistry, materials science — Editor's note) TASS) that they do not want to develop on their own", said Mr. Kuznetsov.

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