Russian Venture Company (RVC) intends to set up two new venture funds – a fund of information-telecommunication technologies, in-built smart systems, mechatronic and robot machinery – Fund Smart-System, and a cluster fund of applied nuclear technologies – AtomFund RVC, iBusiness reports.
The Fund Smart-Systems is to create the eco-system for generation of growth of successful business-projects in the sector of specialized in-build smart-technological systems. Under plans, the fund is to invest in perspective service companies of the technological cluster, design-centers, suppliers of breakthrough solutions, as well as to incubate technological projects with high potential and provide marketing services to innovators and their projects.
The Fund is also to ensure full-cycle commercialization of smart-system products, starting with analyses of global market tendencies and search of perspective technologies and finishing with building the development strategy, intellectual property protection and further capitalization of supported innovation companies in the cluster.
Initial size of the Fund Smart-System is estimated at $18m, which is then to be increased to $72m. The investment period is set at up to five years, and the Fund is scheduled to exist till September 2020 and can be prolonged. The fund is to operate under private-public partnership: it is to invest in its portfolio firms only is co-investment is raised from private investors.
The AtomFund RVC’s main goal is to form geographically scattered and competitive innovation cluster of “civil” nuclear technologies through commercialization of Russian inventions, investment into foreign companies in perspective projects to provide technologies transfer into Russia, as well as introduction of the Fund of world standards of innovation activity management into Russian portfolio firms.
The Fund start capital is to total $70m and can be then increased to $150m through raising additional finance from institutional and private investors. The Fund duration is ten years, including the five-year investment period. The Fund management is to be carried out by the international management company, selected by the RVC in an open tender.