4 projects get approval from the Investment Committee of Russian-Belarusian Fund
On June 29 there was a meeting of the IT Investment Committee of Russian-Belarusian Fund where the participants discussed projects in the field of digital medicine, new materials, online services, portable devices and other industries. The committee was chaired by Alexey Basov, the adviser to the president of PJSC Rostelecom.
“We are witnessing a significant number of venture projects in various sectors of the economy, all of which are developed by joint teams from Russia and Belarus. We hope that the new fund will become an important element uniting the innovative ecosystems of our countries and will open new investment opportunities for each participant,” noted Alexey Basov.
The leading start-ups of Belarus, through the conference calls, were presenting their projects to the members of the Investment Committee for several hours. As a result, four of them were approved.
Director of RVC subsidiaries, Eugeny Kuznetsov says: “The RBF under the management of the RVC subsidiary funds is an important instrument for investing in the technological partnership between Russia and Belarus. The examined companies showed high potential and almost all of them are connected with the actual markets, first of all, those of medicine and information technologies. Now we are proceeding to careful analysis and preparation for investment decisions.”
The next meeting of the Investment Committee, which will also consider the financing parameters for these projects, is scheduled to be in early August 2017.
As commented on June 30 by the Minister of Economic Development of the Russian Federation, Maxim Oreshkin at the plenary session of the Fourth Forum of the Regions of Russia and Belarus “Vectors of the Integration Development of the Regions of Russia and Belarus in the fields of high technologies, innovation and the information society”,
“In December 2016, an agreement was signed to create a joint Russian-Belarusian venture investment fund. The target size of the Fund will be 1.4 billion rubles with an option of further increase. The Fund supports innovative national projects in terms of their further integration into production and commercial chains throughout the Eurasian Economic Union. It also supports Russian projects aimed at accelerating the innovative development of the Belarusian economy. Yesterday we had the first meeting of the Fund's investment committee, where seven projects in the field of medical, industrial technologies, transport were considered.”