RVC sets up new funds, bets on increase in private venture investing

By the end of 2016, Russian Venture Company wants to set up about $550m worth of new funds in select sectors; the overall capitalization of RVC?s funds, both existing and new, is expected to grow to $1.4bn

By the end of 2016, Russian Venture Company wants to set up about $550m worth of new funds in select sectors; the overall capitalization of RVC?s funds, both existing and new, is expected to grow to $1.4bn, Russian Venture Company announced in its press release. According to the most recent strategy for the next three years, currently being drafted by RVC, the national fund of funds for innovation is allocating $280m for new investments, including those into its existing funds. RVC is planning about $830m worth of its total financial commitments by 2016. By the end of 2016, RVC hopes to contribute into the setup of thirteen new funds, bringing the total number of funds invested into by RVC over the years to 25. The new funds will focus on aircraft and spacecraft technologies (including avionics), energy efficiency and energy saving, life science, and intelligent and IT systems...