RVC investment arm sets up two new microfunds

RVC investment arm sets up two new microfundsThe RVC Seed Fund earlier this month set up two new seed and pre-seed stage microfunds, the Softline Seed Fund and the High Tech Fund, each established as an investment partnership

The RVC Seed Fund, an investment arm of Russian Venture Company, earlier this month set up two new seed and pre-seed stage microfunds, the $1m Softline Seed Fund (SSF) and the $1m High Tech Fund, each established as an investment partnership, the Russian Venture Company (RVC) website announced. Its partners in the project are Softline Venture Partners, a corporate VC fund set up by Softline Group, a Russian leader in software licensing, and TONAP-Venture, an innovation company. The Softline Seed Fund will focus on supporting projects developing cloud solutions, mobile apps, data protection systems, and digital marketing solutions. SSF is originally designed to work for three years with the possibility for re-capitalization. The High Tech Fund will back projects focused on such areas as biotechnology, new materials, and energy efficiency. It is expected to initially operate for five years, and an extension is envisioned. Each of the microfunds is expected to finance five-to-eight projects at pre-seed and seed stages...