Far Eastern High-Tech Fund announces the closure of the first two transactions worth RUB 175 million
The Far Eastern High Technology Fund (DEFT) created in August 2018 by the Development Fund for the Far East and the Baikal Region (part of VEB.RF), Rusnano and RVC announces the completion of the first two transactions worth 175 million roubles.
Two Far Eastern companies were given the Fund’s capital:
- Hotlead (Khabarovsk), a cloud telephony service with a built-in CRM system. The Fund’s investments amounted to 75 million roubles.
- Visitech (Yuzhno-Sakhalinsk), a developer of IT solutions in the field of industrial safety and labour protection. The Fund’s investments amounted to 100 million roubles.
As a result of transactions, the Fund was included in the capital of companies; shares were not disclosed.
Portfolio companies will spend the funds received for improvement of their products through strengthening of R&D divisions and development in Russia, including the regions of the Far East. In particular, Hotlead and Visitech will establish additional sales offices and R&D centres in Vladivostok on Russkiy Island.
Alexey Basov, Deputy General Director — Investment Director, RVC
The first transactions made by the Far Eastern High-Tech Fund prove that the region has serious potential for innovative development. It is essential to underline that the priority of the investment strategy of the fund is the projects that correspond to the NTI markets. Thus, within the framework of the National Technology Initiative, another useful financial support tool has been launched.
Sergey Vakhterov, Senior Managing Director of RUSNANO Management Company
RUSNANO welcomes the closure of the first transactions of the Fund and highly appreciates the prospects of the selected projects in the field of digitalization of industrial and business processes in the Far East. The Fund's investments will significantly scale the business of Hotlead and Visitech, already operating in the Far East. RUSNANO, as one of the LPs (limited partners) of the Fund, will contribute to the development of projects and the promotion of technologies in the domestic market and beyond.
Ruslan Sarkisov, General Director of the Far Eastern High Technology Fund
Over the past year, the Fund has done a great job focusing on analysing more than 200 technology companies doing business in the Far East or aimed at localization in the region, forming a significant pool of projects for inclusion in their portfolio. Hotlead and Visitech are already working in the Far East, the progressive developments of the companies have a high potential for further integration into the local economy through the digitalization of key business processes of leading enterprises, and will be strengthened by the Fund's investments. By the end of the year, the Fund will finance another five to six companies in order to accelerate the development of the innovation environment of the Far East.
Additional information on the Fund's portfolio companies.
Cloud telephony service for businesses with a built-in virtual telephone exchange, CRM-system and telephone numbers in 115 cities of Russia and 75 countries of the world. The head office and development team are located in Khabarovsk; there are branches in Moscow, Vladivostok, and Seoul (South Korea). The platform has a multilingual interface and can be used anywhere in the world. The company is a Far Eastern one (Khabarovsk).
Visitech develops and implements IT solutions for the automation of labour protection, industrial and environmental safety using artificial intelligence and predictive analytics, which helps to minimize the likelihood of accidents. The company's solutions are universal for any industrial production — whether it is the oil and gas industry, metallurgy or electric power industry. The company is a Far Eastern one (Yuzhno-Sakhalinsk).