The sizing up of the competitive selection of legal and/or private persons aiming at joint investment in innovative enterprises took place on July 5, 2012. The competitive selection was organized and conducted by Moscow fund for venture investments development. According to the fund, the number of Contest participants exceeded expectations. In consideration of that this is a pilot project, Fund’s Board of Trustees decided to limit the number of winners for the purpose of testing the developed mechanism.
The following investors were named by results:
1. Andrey Yurevich Golovin 2. Prudnikov Alexey Viktorovich 3. Ryaben'kii Igor Arkadievich 4. Pavel Aleksandrovich Cherkashin 5. Growth Vector Ltd. 6. Softline International JSC 7. Codeagency CJSC 8. ACP Management Company 9. Laboratory of Innovation LLC 10. Prostor Capital / Global TechInnovations Fund 11. Rye, Man & Gor Securities JSC 12. SIGMA.innovations LLC
Moscow Seed Fund will grant loans of up to 8 M RUR at 12% per annum to innovative companies winning investors will invest in.
The circle of future co-investors of the Fund will be expanded, fund’s representatives say.
The main objective of Fund's activities is granting loans on easy terms to projects that received investments from private investors passed competitive selection. The Foundation will provide easy-terms loans on a competitive basis and invest their own money in projects under the co-investment. At the same time, the limit for a single investor will reach 30 M RUR and the amount of money that can be invested in a company – 8 M RUR, the minimum amount of credit for one company will be 500 K RUR. Investors will make their own decisions about investing in a particular enterprise, taking into account that in the case of investment, the company will receive a loan from the Fund with the postponement of repayment.
First and foremost we have created a tool designed to support business angels. They are investment professionals and we see them as the first users of the tool - says Alexei Kostrov, the Executive Director of Moscow fund for venture investment development. – Projects of our interest are focused on private, rather than state money or grants. Only market relations with short timelines of capitalization.