Rusnano considers setting up $2bn high-tech fund with India; more funds seen ahead
Rusnano, Russia’s nanotech giant, has been in talks with India over the setup of a fund to finance high technology projects the two countries are pushing together, the Russian news agency TASS reported
Nov 14, 2014
TASS quoted Russian Deputy Minister of Economic Development Alexei Likhachov as saying that, "we talk about the creation of a $1-2bn fund together with an Indian partner which has yet to be chosen later."
It is expected that project details will be finalized later this month.
Setting up new investment funds that raise domestic and international capital is part of Rusnano’s new strategy endorsed by its board earlier this year.
Between 2014 and 2020 the government-owned corporation is expected to get involved in various types of funds, including expansion stage ones and VC funds run directly by Rusnano’s new management company, MC Rusnano.
Over the years Rusnano has plans to inject as much as $1.5bn into the new funds and also raise approximately $3.6bn in external investment to be funneled into high technology projects.
TASS reported earlier that the national nanotech company was setting up a $200m fund in partnership with Taiwan’s Industrial Technology Investment Corporation (ITIC) and Singapore’s 360ip. The new fund, to be called Trans Pacific Technology Fund (TPTF), is expected to start investing in early 2015.
TPTF will reportedly be supporting high-tech companies developing projects in robotics, automation, nanotechnology, new materials and IT to encourage the localization of their businesses and technologies in the Russian and Asian-Pacific markets.
It is expected that project details will be finalized later this month.
Setting up new investment funds that raise domestic and international capital is part of Rusnano’s new strategy endorsed by its board earlier this year.
Between 2014 and 2020 the government-owned corporation is expected to get involved in various types of funds, including expansion stage ones and VC funds run directly by Rusnano’s new management company, MC Rusnano.
Over the years Rusnano has plans to inject as much as $1.5bn into the new funds and also raise approximately $3.6bn in external investment to be funneled into high technology projects.
TASS reported earlier that the national nanotech company was setting up a $200m fund in partnership with Taiwan’s Industrial Technology Investment Corporation (ITIC) and Singapore’s 360ip. The new fund, to be called Trans Pacific Technology Fund (TPTF), is expected to start investing in early 2015.
TPTF will reportedly be supporting high-tech companies developing projects in robotics, automation, nanotechnology, new materials and IT to encourage the localization of their businesses and technologies in the Russian and Asian-Pacific markets.