Russian venture fund Bright Capital, the portfolio of which has means of the Minister for Open Government Relations Michael Abyzov, opens its office in the U.S. The company's office will be in Silicon Valley, where the representative offices of Russian Venture Company, Skolkovo and Rusnano have already been opened.
The managing partner of the Fund Michael Chuchkevich told about Bright Capital’s office in Silicon Valley. According to him, Bright Capital promotes the work with foreign investors and venture capital funds. The company has already reached an agreement on joint investment in a number of Russian projects with the following funds: Sequoia Capital and Kleiner Perkins Caufield&Byers. The U.S. office of Bright Capital is headed by a new partner - Nety Krishna, who came from Redpoint Ventures fund.
We will launch two funds for private and institutional investors by the end of the year for a total of $700M. Since the U.S. is the major supplier of technologies at the moment, we opened a representative office for their effective transfer to Russia. New office is located next to the offices of Rusnano, RVC and Skolkovo at Sand Hill Road 3000, - Mr. Chuchkevich said.
The first fund of Bright Capital invested 14 U.S. companies for the last two years of work for a total of about 130M RUR. We will double the amount of investments in U.S. technology companies to $260M in the near future - the managing partner of Bright Capital says. In addition, the company intends to use its U.S. office as a platform for the promotion of Russian start-ups in the world market.
Rusnano says that after the opening of its representative office in the U.S., the quality of interaction with U.S. investors has increased. We have invested approximately $1.3B in the U.S. projects, the total budget of these projects is $3,9B – Rusnano says.