RVC is ready to invest up to 19 B RUR in new funds

To achieve long-term goals of RVC, OJSC development strategy, the enhancement of the venture market financial opportunities is needed - said Igor Agamirzyan, the CEO and Chairman of the Board of RVC, OJSC at today's press conference on the company's recently adopted parameters and criteria for the selection of managing companies (general partners) of new diversified venture funds and industry-specific (cluster) funds.

The event was held under the theme RVC Launches the Selection of Management Companies to Create New Venture Capital Funds: Important Details. The press conference was moderated by the head of Public Relations Service of RVC, OJSC Roman Kosyachkov.

According to Igor Agamirzian, the enhancement of financial capability of the venture market can be achieved by the creating of a certain number of new public-private venture capital funds that use accumulated knowledge and experience more thoughtfully. This will solve the problem of investment managers’ professional level upgrading by identifying and promoting the most successful teams, as well as through the involvement of foreign experts and investors - says the head of the RVC.

Creation of new funds will be based on internationally accepted standards, which means a thorough check of applicants, the study of their previous experience in managing venture capital funds and their ability to carry out the procedure of fundraising in competitive domestic and international markets. All requirements for management companies are listed in the Regulations on the procedure of management companies selection... , available at RVC’s website.

New funds creation will be carried out in close cooperation with development institutions and major corporations in Russia and other countries.
The maximum amount of RVC’s financing in diversified venture capital funds (Seed Funds and Funds at early stages) will amount to 12 B RUR in 2012. The amount of RVC, OJSC financing in specialized (cluster) technology funds, nuclear technology will amount to 1 B RUR in 2012, alternative energy and energy efficiency funds will receive up to 2 B RUR, aerospace technology funds - up to 2 B RUR, management systems funds - up to 2 B RUR.

The size of funds must show the readiness of the sector to create high-quality projects, as well as the applicability of scalable (VC) business models in the sector - said Yan Ryazantsev, RVC’s director of investments. Flexible and transparent investment criteria allow attracting of many applications.