Central regions | Finance, business | Energy, utilities

RVC and North Energy Ventures to support cleantech

11 Nov '15
A fund with international capital has been set up in Russia to support early-stage projects in energy efficiency, renewable energy and cleantech. The founders include RVC, Russia’s national fund of funds for innovation, North Energy Ventures, an international VC fund, and a group of private investors, RVC announced.

The partners intend to eventually come up with a $16m fund, to be called “North Energy Fund I Seed.” RVC is expected to ante up the lion’s share of the total (more than 50%). Current plans limit the fund’s operations to ten years.

The new fund is expected to invest in 15-to-20 companies. Most of those will be tech projects developed by entrepreneurs in Russia, but support of transactions with leading U.S. and European funds is also possible. The average projected deal will be about $400,000, RVC said.

According to RVC, North Energy Ventures, headquartered both in Moscow and in California, wants to leverage its network of North American and Asian contacts in order to help the best Russian tech start-ups it will fund in their international market expansion. The VC partner is also ready to assist the start-ups in contacting potential customers, putting together pilot projects, developing international patent portfolios, and raising later-stage venture funding, RVC said.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: fund (721) / RVC (156) / energy efficiency (12) / North Energy Ventures (1) / North Energy Fund I Seed (0) /

 

Feature stories

7 Dec '16
In spite of all current problems and adverse external...
2 Nov '16
Search (News archive - 21023)
Advertising
ARCCoM
Advertising
RBTH_Kendrick
Advertising
Hi-tech Technopark Association of Russia
Advertising
ITMO University

Latest News

20 Jan '17
A scientific team at the Siberian Federal University...
19 Jan '17
A new anti-tumor compound, developed by a scientific...
18 Jan '17
Russia fell 14 spots to #26 in the latest Bloomberg...

Most read stories from last week

20 Jan '17
A scientific team at the Siberian Federal University...