Following the instructions of Russian President Vladimir Putin, FEDF, Rusnano and RVC established Far East High Technology Fund LLC. The target capital of the new fund on the first stage will reach RUB 5 bln. The capital of the fund will be expanded by attracting the banks’ funds, strategic investors and overseas partners.
The Fund will invest in equity and provide debt financing to growing companies operating in the Russian Far East and engaged in developing salient and cutting-edge technologies, products and services, as well as financing the projects related to technology transfer (including import substitution), expansion and modernization of high-tech product manufacturing.
The Russian Far East comprises modern companies with considerable expertise of operation in high-tech industries. Our challenge is to facilitate the development of these relatively few companies by attracting supplementary capital to promising projects using new tools and leveraging the public agencies.
The Fund has already compiled a portfolio of promising projects in various high-tech sectors of the Far East (IT, aircraft construction, biotechnologies, nuclear technologies, unconventional energy). The pipeline under consideration includes projects related to the implementation of modern mining and processing technologies.
Far East High Technology Fund is also interested in the cooperation with international companies and overseas investors – they can participate in financing of the Fund’s projects as well as propose projects for investments in the Russian Far East.www.vostokventures.ru