Government fund of funds
Development institute of the Russian Federation

Press about RVC

Before the end of 2019 RVC will select the management company for the educational venture fund

Source: TASS

As Alexander Povalko, General Director of RVC, reported, the document of the main parameters of this fund was signed on June 6.

Before the end of 2019, Russian Venture Company (RVC) will complete a competitive selection of the management company for the venture fund to support the educational technologies of the digital economy, reported Alexander Povalko, General Director of RVC, to TASS on Friday at the St. Petersburg International Economic Forum.

“We together with the partners signed an agreement of the main parameters of this fund on June 6 at SPIEF. We have agreed on the regulatory design position and the management company requirements. In fact, we are ready to enter the selection contest of the management company. In the third quarter, we plan to complete all procedural issues on the management company selection and the selection process before the end of year,” he said.

On 6 June, the Ministry of Economic Development of the Russian Federation and RVC signed an agreement on the creation of venture fund to support the educational technologies of the digital economy at the SPIEF. The fund is created within the implementation of the federal project “Personnel for the Digital Economy” of the national program “Digital Economy of the Russian Federation” in order to develop promising educational technologies with the use of the best world's technological solutions to increase the education efficiency and accessibility.

The total amount of the Foundation will be RUB 7 billion due to the provision of the budget investments from the federal budget in 2019-2021 to RVC with an increase in the equivalent of the RF participation in the authorized capital of RVC. The fund will be organized in the form of an investment partnership. It is expected that the venture fund will support the development of Russian technology companies in the area of education, help the strengthening of positions at international markets, as well as provide the transfer of world educational technologies to Russia.

RVC JSC is the state fund of funds, the development institute of Russia, one of the key instruments of the state in building a national innovation system. The authorized capital of RVC JSC is more than RUB 30 billion, 100% of RVC capital belongs to the Russian Federation represented by the Federal Property Management Agency. The total number of funds formed by RVC JSC has reached 27, their total size is RUB 51.3 billion. The share of RVC JSC is RUB 26.8 billion.

SPIEF will be held on 6-8 June. The forum events are combined by the motto “Forming the agenda of sustainable development”. Roscongress Foundation is an organizer. TASS is an information partner, official photo hosting agency and operator of the SPIEF Presentation Zone supported by EY and the Foreign Investment Advisory Council in Russia.

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