June 30, 2016 Moscow. RVC Seed Fund and the International Technology Union of Guangdong for Cooperation with the CIS countries signed an agreement on joint activities for the period from 2016 to 2019.
The key project within the framework of cooperation will be the involvement of partners from China in a joint fund that invests in technology companies of Russia and China. Under the agreement, RVC Seed Fund will provide expert assessment and provide comprehensive assistance in the selection of projects, and will also be able to act as a provider of advanced products and technologies for the new fund.
The establishment of a joint fund is one of the first practical results of systematic work of RVC Seed Fund and the Chinese venture market participants. China is a very difficult market, the main thing when working with it is to build trust based on the specifics of the existing ecosystem and cultural particulars. We are in talks with several Chinese funds and the leaders of Guangdong with respect to a possible partnership in the implementation of technology projects from the portfolio of RVC Seed Fund. The first deals on the export of these developments to China are planned to be completed this year, said Alexey Teleshev, the Director of RVC Seed Fund.
Under the agreement, the parties will contribute to the creation of favorable conditions for mutual investments attraction, to facilitate the development and implementation of joint investment projects, including those carried out with the participation of third parties. The main directions of the Russian-Chinese cooperation include industries such as biomedicine, energy, information technology and electronics.
We conducted a deep analysis of the Russian market of venture investments and decided to begin a systematic work with Russia in collaboration with the colleagues from RVC Seed Fund. We were impressed with the results of what has been achieved by the Fund since 2009, and we already see some significant market opportunities for a number of Russian projects of RVC Seed Fund in China, added Fendzhi Guo, the General Secretary of the International Technology Union of Guangdong for Cooperation with the CIS countries.
The Deputy General Secretary of the City Hall of Guangzhou Mr. Zhao Nansyan has expressed readiness for further development of relations with Russia. According to him, the Guangzhou city government will do its best to promote the international technology cooperation and the introduction of new technologies in the city.
About RVC Seed Fund
RVC Seed Fund, Limited Liability Company (RVC Seed Fund, the Fund) was established on October 22, 2009 within the framework of the Basic Provisions of the RVC strategy. The participants of the Fund are RVC (99.9%) and the Foundation for Assistance to Small Innovative Enterprises in the scientific and technical areas (0.1%). The Fund is focused on investing in the Russian innovative companies with a high growth potential in the Russian and foreign innovation and technology markets.
About the International Technology Union of Guangdong for Cooperation with the CIS countries
The Guangdong International Technology Alliance for Cooperation with the CIS countries was established on November 21, 2009 in association with the State Ministry of Science and Technology and the Department of Science and Technology of Guangdong. The main objective of the Union is to identify and promote innovative technologies and scientific and technical cooperation between the CIS countries and Guangdong province, China.
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