6 June 2019, St. Petersburg. — The Roscongress Foundation represented by Director Alexander Stuglev, the RK Investments Fund represented by Director Alexander Shatirov, RUSNANO JSC represented by Anatoly Chubais, Chairman of the Board of the Management Company RUSNANO, Far East and Baikal Region Development Foundation represented by CEO Alexey Chekunkov, and Management Company Far East High Technology Fund represented by CEO Ruslan Sarkisov on the accession of RK Investments Fund to the investment partnership Far East Fund for Development and Implementation of High Technologies as a partner and stakeholder of Management Company Far East High Technology Fund.
The Far East High Technology Fund (FEHTF) was established in 2018 on the instructions of the President of the Russian Federation Vladimir Putin to boost high-tech industries and innovation projects in Russia’s Far East. Since its establishment, the contributors to the FEHTF have been Far East and Baikal Region Development Foundation (FEDF, a member of VEB.RF), Management Company RUSNANO and the Russian Venture Company (RVC). The Fund’s current amount is RUB 5 bln, the target being RUB 10 bln.
RK Investments will undertake to lure investments and will search for a foreign investor to join the Far East High Technology Fund as a contributor.
“In 2018, the Far East Fund for Development and Implementation of High Technologies was established under the supervision of Management Company Far East High Technology Fund. At the first stage, the Fund amounted to RUB 5 bln, but it was originally planned that the Fund will be increased, thanks to capital drawn from banks and strategic investors. Accession of RK Investments to the project will allow attracting additional funds, including at the expense of foreign investors,” says the Chairman of the Board, Director of the Roscongress Foundation Alexander Stuglev.
“With the RK Investments Fund chipping in the FEHTF, the competencies and the tool set at the disposal of the Roscongress Foundation Group for backing investment and business projects will markedly increase. The RK Investments Fund will help the FEHTF in the search and selection of projects in the following main areas: investment in technology transfer from abroad with a focus on import substitution, manufacturing new products with high added value, innovative start-up projects, and infrastructure projects. The RK Investments Fund will search for a foreign partner to join the Far East High Technology Fund: a foreign participant will make it possible to quickly increase the Fund amount and attract international expertise,” said Director of the RK Investments Fund Alexander Shatirov.
The significant role of investment support for key projects was mentioned by Alexey Chekunkov, CEO of the Far East and Baikal Region Development Foundation: “In the Far East, a large number of promising projects are being delivered in various sectors of the high-tech industry, along with projects related to implementation of modern technologies in the extraction and processing of mineral resources. Our task is to attract additional capital into promising and strategically important projects accelerating the development of the region.
“Together with colleagues from FEDF and RVC, we managed to launch an investment fund that already finances high-tech companies in Russia’s Far East. The Fund has a fairly wide pipeline of projects of which some will be developed in the territory of Russia’s Far East. Accession of the RK Investments Fund and foreign partners to the Fund proves that the tool we created is successful and in demand on the investment market,” says Anatoly Chubais, Chairman of the Board, Management Company RUSNANO.
“Accession of RK Investments to the Fund”, given a wide network of this company’s contacts in the business environmentб opens up an additional window of opportunity for projects in Russia’s Far East and their development in national and international markets,” said Ruslan Sarkisov, CEO Management Company Far East High Technology Fund.