Russian Venture Capital Association (RVCA) and Chinese Venture Capital Association (CVCA) signed a memorandum of cooperation and understanding during the third forum Global Innovation Partnership which took place in Moscow on October 2-4, 2012.
We look forward to the intensification of contacts with our Chinese colleagues. After three business days of the forum, it became apparent that we have a great potential for the development of mutually beneficial cooperation in venture capital investment. Chinese colleagues have shown great interest in our projects. We, in turn, would be extremely interested in their experience of the investment sector development in the sphere of innovation, - Albina Nikkonen, the executive director of RVCA said.
The memorandum will promote the cooperation to support innovation and the transformation of intellectual and educational resources in commercial.
The parties will create necessary conditions, so promising innovative technology entrepreneurs, venture capitalists and private investors from China and the Russian Federation will be able to build a mutually beneficial relationship, the memorandum says.
RVCA was founded in 1997 as the National Association of the venture capital industry in Russia and has played the leading role in promoting and supporting the industry in the whole country as well as in individual regions. CVCA was founded in 2002 to protect the interests of private investors and to facilitate the progress of venture capital and private equity development in China.