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Russia launches two major internationally-oriented tech funds

Two initiatives that confirm the Russian government’s commitment to support the country’s high-tech industries were announced this month. The first was the creation of a 5 billion ruble (approximately $100 million) tech fund by RVC, the state-owned fund of funds dedicated to innovation, in partnership with Da Vinci Capital Management, a major internationally-oriented Russian asset management company.

 

Presented as “Russia’s first tech-IPO tech investment fund,” the fund will invest in “fast-growing high-tech companies with international development and IPO potential.” The portfolio companies will be encouraged to float stock on the Innovation and Investment Market of the Moscow exchange (iIM).

 

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