Government fund of funds
Development institute of the Russian Federation

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RVC and Phystech Ventures set up a new fund

11.01.2016

RVC and Phystech Ventures set up a new fund

RVC and Phystech Ventures announced a new Phystech Ventures II fund in by way of investment partnership agreement. A new fund will invest primarily in seed-staged technology projects in areas that will be supported by the Russian government and included in its National Technology Initiative (NTI).

Target fund volume will be 2 billion RUB. First fund closing volume will be 900 million RUB. On the initial stage, RVC will invest about 600 million rubles in the fund; the rest of funds will be invested by private investors. Increase of private investors with target share of RVC in the fund less than 50% is expected at successive closure. The fund will operate for ten years, with the investment period of five years.

The portfolio of the new fund is planned to comprise 15-25 technology companies. The fund industry focus is on the projects in the sphere of new materials, additive technologies, sensors, new energy sources, energy efficiency, big data, security information technologies, security sphere and decentralized financial systems.

The fund has plans to lead investment partnerships with other VC investors and angel investors. For an initial funding round, the planned investments will be from 10 to 50 million rubles, additional funds will be reserved for further funding rounds. The fund is expected to take active part in the development of its portfolio companies, helping them at the inception phase to find customers, build patent portfolios and do efficient headhunting, and then enter international markets.

"For RVC, creation of the joint fund together with Phystech Ventures is expression of confidence in high potential and professional skills of the fund managing team, supported by credibility of experienced Russian and international entrepreneurs that became its co-investors, says Andrey Vvedenskiy, investment programs director, member of the Board of Directors of RVC. – Phystech Ventures II investment strategy is distinguished by focus on industrial technologies and orientation for work with ecosystems of the leading technical universities of the country, including MIPT, which will ensure technology entrepreneurship ecosystem development based on higher education. Together with the Phystech Ventures II team we made the next step to distribution of the funds set up practice in the form of IPA in Russia and we consider that each such RVC transaction is an important positive signal for the Russian investment community from point of view of both professional players’ activity and investment infrastructure maturity."

Petr Lukyanov, Managing Partner of Phystech Ventures: «Setting up this fund together with RVC, we plan to realize technology potential of the Russian teams. We will invest in talented and self-motivated entrepreneurs with global ambitions, assisting them as they build businesses in Russia, North America, Southeast Asia and other regions where we are present and have contacts and competencies."



Information

About Phystech Ventures

Phystech Ventures was founded by Petr Lukyanov and Olga Maslikhova in 2013. The company invests in Russia, USA and South-east Asia in teams developing hardly replicated technologies in IT (internet of things, information security, information technology in finance and education) energy efficiency (sources and energy storage systems, network systems, oil and gas, new materials). Assets under company management amount $50,000,000. At the moment, Phystech Ventures has 12 technology companies including 6 Russian companies in the portfolio. Investors of funds managed by Phystech Ventures include - Sergey Belousov (Parallels, Acronis), Aleksandr Ruchyov (Morton SC), Ratmir Timashev (Veeam, AelitaSoftware) and more than 10 other successful Russian entrepreneurs and venture investors.

About RVC

RVC OJSC is a state fund of funds, development institution of the Russian Federation, and one of the key tools of the state in creating national innovation system. The authorized capital of RVC is more than 30 billion rubles. RVC's capital is owned in full by the Russian Federation represented by the Federal Agency for State Property Management of the Russian Federation (Rosimushestvo). Total number of funds set up by RVC OJSC is 23; their total size is 33.6 billion rubles. RVC OJSC share is 19.9 billion rubles. RVC funds invested into 184 innovation companies. The total amount of invested funds is 17 billion rubles. From 2015, RVC is defined as the NTI project office - a program of measures aimed at development of the absolutely new markets and creation of conditions for global technology leadership of Russia by 2035. It forms new development priorities for investment instruments of RVC aimed at support of promising NTI projects, provision of access to capital to the Russian technology companies and attraction of private Russian and foreign investors to NTI projects realization.

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