23.12.2016

A Russian-Belorussian Venture Investment Fund created

RVC, RVC Infrafund and Belorussian Innovation Fund announced creation of a joint venture fund "Russian-Belorussian Venture Investment Fund." The target size of the fund will amount to 1.4 billion rubles with the possibility of a further increase upon investors' decision. At the first stage, Belorussian Innovation Fund (Belinfund), RVC and RVC Infrafund will invest 50%, 49% and 1% respectively. The period of work of the fund will come to 10 years with the possibility of renewal after a joint evaluation of the results.

The project will be implemented within the framework of the planned work of the Ministry of Economic Development of the Russian Federation, Russian Venture Company and the State Committee for Science and Technology of the Republic of Belarus to develop a common technological space and venture capital market within the framework of the EAEC. The main purpose of "Russian-Belorussian Venture Investment Fund" is to create a modern and transparent investment tool for the development of competitive companies on the basis of high-tech development carried out in the Russian Federation and the Republic of Belarus in the context of harmonization of economic relations between the two countries within the EAEC.

During the first three years, RVC Infrafund will be controlling the Russian-Belorussian Fund, Belinfond will take over the control.
"Russian-Belorussian Venture Investment Fund” will focus on investing in projects that are at the heart of an innovative technology developed in the Republic of Belarus and with the potential for its incorporation in the production and commercial chain across the EAEC. In addition, the new fund will seek opportunities to support projects developed in the Russian Federation, which could have a significant impact on the acceleration of innovation development of economy of the Republic of Belarus", said General Director of RVC Infrafund Alexander Loktev.

The Republic of Belarus is actively developing its venture capital ecosystem. In this regard, the experience, which has been gained in recent years by RVC, is very interesting to us. Within the framework of cooperation between the two managers of the Russian-Belorussian fund - RVC Infrafund and Belinfund - practical cooperation at the project level will be established, which will integrate the Russian and Belorussian venture ecosystem. I do not rule out that later the fund will be joined by investors from other member states of the EAEC," said the Director of the Belorussian Innovation Fund Dmitri Kalinin.

The distribution of the Fund's investments will be made in projects registered in the Russian Federation, and in those projects which are registered in the Republic of Belarus. At the same time, the Fund will invest in projects of two stages: up to 25 million rubles in venture stage projects at the private investor share at least 25% and up to 150 million rubles in companies that are at the growth stage. This policy will make it possible to create a balanced portfolio due to high-risk venture projects with the prospect of a non-linear growth and less risky existing enterprises with the projected growth in the shareholder value.

It is expected that the first projects "Russian-Belorussian Venture Investment Fund" will be financed as early as in 2017.