Far East | Finance, business | Technology & innovation
New state-backed venture fund aims to invest $175m in Russia’s Far East
20 Sep '17
Last week at the Eastern Economic Forum three major Russian institutions—the Far East Development Fund, national fund of funds RVC and nanotech giant Rusnano—signed a partnership to launch a new regional venture fund, EWDN reported.
Dubbed “Far East High Tech Development and Implementation Fund,” the new investment vehicle aims to develop innovation and deploy high technologies in Russia’s Far East. It has a target amount of nearly $175m, including half of this sum at the first stage.
The fund may invest up to $17.4m in each project, the source pointed out.
Meanwhile, RVC is planning to launch no less than 10 new venture funds across the regions to operate both locally and globally.
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