Central regions | Finance, business | Technology & innovation

Russian space agency and partners announce VC fund

30 Nov '17
Roscosmos, Russiaís national agency that implements space exploration programs, has teamed up with Russian Venture Company (RVC, the national fund of funds for innovation) and VEB Innovations (a high-tech investment arm of VEB Bank, one of Russiaís largest government-owned financial institutions) to launch a venture fund by April 1, 2018, the Russian news daily Vedomosti reported.

The partners have yet to disclose who will manage the combined assets and how much money each of the consortium members is intending to invest in venture projects. A source with knowledge of the situation, purportedly associated with RVC, told Vedomosti that itís VEB that is likely to manage the new fund.

Roscosmos and its partners are supporting a new trend that has been emerging in Russiaís VC market and bringing this countryís largest state-owned corporations into the limelight. In addition to these large players, United Aircraft Corporation (UAC), United Shipbuilding Corporation (USC) and Rosatom, Russiaís nuclear energy giant, have announced plans to set up their own venture funds.

Last month UAC invested $5m in a new corporate venture fund which the Skolkovo Foundation and RVC had jointly set up to support Russian start-ups. USCís own VC fund to finance shipbuilding and, possibly, other technologies is slated for launch in early 2018; first deals may be closed by September 2018 already. Just recently, Rosatom announced plans for its venture fund, too.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Latest News: Central regions
18 Jun '18 | Finance, business | Technology & innovation
8 Jun '18 | Technology & innovation | Finance, business
6 Jun '18 | Technology & innovation | Finance, business
4 Jun '18 | Finance, business | Technology & innovation
 

Feature stories

7 Jun '18
Russian scientists have come up with a new method of...
3 Apr '18
In regions most of European Russians will hardly ever...
21 Nov '17
Russian scientists have come up with what they say is...
Search (News archive - 21247)
Advertising
RB_Partners_Report
Advertising
gcvsymposium
Advertising
Independent Software Developers Forum
Advertising
Marchmont News

Latest News

18 Jun '18
BKS, a Russian company, and its partners are running...
15 Jun '18
Technology that comes from Krasnoyarsk in Siberia is...
14 Jun '18
Severstal, one of Russiaís largest mining and...

Most read stories from last week

18 Jun '18
BKS, a Russian company, and its partners are running...