STLC and RVC to Create a Joint Venture Fund


On November 19, as part of the XIII International Forum “Transport of Russia 2019” in Moscow, an agreement of intent was signed between the State Transport Leasing Company (STLC) and RVC to create a joint venture fund.

The signatures under the document in the presence of the Deputy Prime Minister of the Russian Federation Maxim Akimov and the Minister of Transport of the Russian Federation Evgeny Ditrich were put by the General Director of the State Customs Committee Sergey Khramagin and the General Director of RVC Alexander Povalko.

The fund is created to promote high-tech products on the Russian market and to support innovative companies and start-ups that are significant for the development of the transport industry. The priority areas of the Fund will be air, water, rail, passenger and freight land transport, road construction, and road maintenance machinery. The investment focus will also include the technologies of Industry 4.0., Unmanned vehicles, energy-efficient transport, vehicle life cycle management.

The initial target volume of the venture capital fund is three billion roubles. In the future, by agreement of the partners, it may be increased. The declared period of the Fund's activity is ten years with a possible extension by the decision of the participants.

Sergey Khramagin, General Director of STLC
In accordance with the tasks of generating and promoting Russian high technologies defined in the May Decree of the President of the Russian Federation, STLC, in the near future, plans to maximize its innovative activity in the market. The current agreement is a logical continuation of our cooperation with RVC. Earlier, we launched a corporate accelerator for innovative projects and technology start-ups in the transport industry based on the RVC GenerationS platform, and now we are creating a fund from which the most promising initiatives will be financed.
Alexander Povalko, General Director of RVC
The activities of the created fund will be aimed at the development of one of the most critical sectors of the Russian economy - the transport ecosystem. This area attracts close attention from business, government, investors, and consumers. Financial and mentoring support for start-ups working on transport technologies in passenger and freight transportation will allow Russia to obtain breakthrough solutions quickly, test them, and bring them to the market, including foreign ones. We are pleased to combine our efforts with STLC, which has vast experience in the implementation of state support for the transport industry.


About STLC

State Transport Leasing Company (STLC) is the largest leasing company in Russia. It leases air, water and rail transportation, automobiles, and special vehicles for domestic enterprises in the transport industry, as well as carries out investment activities to develop the transport infrastructure of Russia. The sole shareholder of the company is the Russian Federation, represented by the Ministry of Transport of the Russian Federation. STLC has credit ratings of the double B category from three leading international rating agencies, as well as a rating on the national scale “A (RU)” from the ACRA agency. As of June 30, 2019, the company's assets under IFRS exceeded 597 billion roubles.

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