Russian Venture Company (OJSC RVC) is a government fund of venture funds.RVC is one of the Russian Federation’s key tools in building a national innovation ecosystem. RVC’s mission is to promote Russia’s domestic venture capital industry by capitalizing venture funds, most of them privately-owned. In general, RVC operates via public-private partnerships, with RVC committing up to 49% of a venture fund’s capital, with the remainder to be committed by private investors. In addition, RVC acts as a “think tank” for the Russian venture capital industry to originate public policy ideas for the benefit of the venture capital sector.
As of April 2012, RVC has backed twelve funds with a capitalization, collectively, of RUB 26 billion (USD 880 million). RVC’s stake in these funds is, collectively, RUB 16 billion (USD 540 million). These funds are:
- Bioprocess Capital Ventures (RUB 3,000 million, or USD 103 million)
- Leader Innovations (RUB 3,000 million, or USD 103 million)
- Maxwell Bio-Tech (RUB 3,061 million, or USD 104 million)
- New Technologies (RUB 3,061 million, or USD 104 million)
- RVC Seed Fund (RUB 2,000 million, or USD 68 million)
- S-Group Ventures (RUB 1,800 million, or USD 61 million)
- Tamir Fishman CIG Russian Fund (RUB 2,000 million, or USD 68 million)
- VTB Venture Fund (RUB 3,061 million, or approxUimately USD 104 million)
- RVC Infrastructure Investment Fund (RUB 2,000 mln, or USD 68 million)
- RVC Biopharmaceutical Investment Fund (RUB 1,500 mln, or USD 52 million)
- Russian Venture Capital I LP (RUB 300 million, or USD 10 million)
- RVC IVFRT LP (RUB 1200 million, or USD 40 million)
Also as of April 2012, these RVC-backed funds collectively had a portfolio of 111 companies in which they had invested capital of RUB 9.2 billion (USD 308 million).
RVC was established pursuant to Order No. 838-r of the Russian government on June 7, 2006, and is 100% owned by the Federal Agency for State Property Management (Rosimuschestvo). It has an authorized capital of RUB 30 billion (about USD 983.2 million).
In the years to come, RVC is expected to play a pivotal role in the development of the Russian venture capital industry.
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