Russian Technologies to set up a venture fund
The state corporation is planning to become the global leader in high-tech mechanical engineering by 2002. The strategy includes capitalization of 500 Russian Technologies subsidiaries and maintaining our country’s leadership in the arms market. To achieve that, the corporation will set up an investment and innovation development fund, which will buy major assets and transfer them to the state corporation’s holding companies.
The size of the fund will approximate $1B.
According to one of the company’s top managers, Andrey Vvedensky, the fund will partner with RVC.
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