One of the largest and oldest venture capital firms in Silicon Valley, Bessemer Venture Partners (BVP) in the next two years will invest $ 20 M in technology projects developed by Skolkovo resident companies. Partnership Agreement between the BVP and Skolkovo has already been signed, reports the innograd press release.
As any development institution, the Skolkovo Fund considers one of its main tasks the help in bridging the gap between the seed and experimental-industrial stages of the project development. Russian and foreign venture capital firms, cooperating with the Fund, such as the BVP, play a significant role in the process. The agreement was signed by the Skolkovo Investment Fund Director Alexander Lupachev and the BVP CEO Ed Kolloton at the World Technology Symposium, held in Menlo Park, California.
According to the agreement, in exchange for venture capital investments BVP will have access to the Skolkovo technology projects database and the opportunity to invest in them, as well as the right to apply to the Fund for granting the residents status to their portfolio companies. One of such companies, Parallels, has become a member of the Skolkovo project and was granted $ 5 M.
Signing this document, we formalize the already established relationship with our partner, Bessemer Venture Partners, - noted the Skolkovo President Viktor Vekselberg. - From now on, the company will take an honorable place in the list of our investors, which already includes more than 30 Russian and foreign companies and funds. Our co-operation is a contribution to the development of intellectual capital and research, turning into the creation of high-tech industries.
We are happy to cooperate with the Skolkovo Fund successfully creating in the heart of Russia the community of scientists and entrepreneurs, promoting global innovation - said BVP executive director Ed Kolloton. - Bessemer is one of the venture companies that have created truly global platforms, allowing to find and fund promising start-ups, no matter where they are. We are happy to use our experience, so that together with the Skolkovo to create the company of the highest levels.
Venture Capital Company Bessemer Venture Partners was founded over 100 years ago. More than 100 start-ups have become large companies, which play an important role in the market for goods and services due to its investment. It has offices in New York, Silicon Valley, Boston, Mumbai (India) and Herzliya (Israel). The company manages $ 2 B venture capital funds invested in more than 130 companies worldwide.