The Executive of RVC: investing NPFs in venture capital investments must be allowed
According to Alexander Povalko, this is the foremost opportunity for the development of the venture capital market in Russia.
Non-state pension funds (NPFs) should be allowed to invest in risky venture capital investments; this is the first opportunity for the development of the venture capital business in Russia. The General Director of JSC Russian Venture Company (RVC) Alexander Povalko shared this opinion with TASS on Friday during the Eastern Economic Forum (WEF).
"There is one important moment: it is the money of NPFs, pension funds. Moreover, this is a fundamental issue. We constantly come back to it, and we keep talking about it all the time. It would be nice to accept and solve it for ourselves. Also, decide in favour of allowing risky venture capital investments in the portfolio of these funds. From a normative point of view, this is probably, if not a barrier, then the main opportunity for the development of the venture capital market in our country," he said.
The Executive of RVC noted that the regulatory framework for the venture capital market in the country as a whole had been formed.
"In 2018, the Russian venture capital market grew by 80%, and money comes to the market. It seems that a strong position has emerged within the [large] companies regarding the technological development and applicability of venture capital funds instruments for its implementation. Rosatom made a fund, this fund is now three billion roubles, their nearest plans are to [bring] up to 9 billion roubles, Russian Railways, Roscosmos, and Russian Technologies already has several funds. These are all the resources that come to the market. And not only money but also people," said Povalko.
About the Forum
The 5th Eastern Economic Forum takes place in Vladivostok on September 4–6. Its organizer is the Roscongress Foundation. TASS is the general information partner, official photo hosting agency, and moderator of the Far East Presentation Zone for Innovative Opportunities.