Unicorn Capital Partners investment team scored the most points based on open selection. The fund is created by RVC together with the Ministry of Industry and Trade of the Russian Federation for investments in high-tech projects in the field of production of innovative medicines, medical devices, and software.
RVC announced an open selection for the search for a managing partner for a venture fund in the pharmaceutical and medical industries in July 2019. In total, three applications were submitted for an open selection. A commission with the participation of leading experts from specialized corporations, universities, and development institutes and representatives of RVC evaluated applications from applicants. The Commission estimated criteria such as proposing the primary conditions of an investment partnership agreement, a proposal on the investment strategy of the fund, and its financial model, as well as a list of projects proposed for priority investment. Particular attention was paid to the qualifications and experience of the management team in investing in various segments of the pharmaceutical and medical market. As part of the interview phase, the selection participants made an in-person presentation of their proposals and answered questions from the commission. Based on the selection results, the RVC Board of Directors recognized Unicorn Capital Partners as the winner.
The fund will be established in the form of an investment partnership for a period of 10 years; the investment period will be five years. RVC's contribution to the capital of the new fund will amount to 4.5 billion roubles. The technological priorities of the fund will be aimed at creating new drugs and drug delivery vehicles, developing high-tech medical devices, and software in medicine. The fund will invest in Russian and international projects of the early stages A, B, B+ (phases I and II of clinical trials for drugs), seed stages, and at the preclinical stage.