Moscow, 26 August 2019 — The Far East High Technology Fund (FEHTF) created in August 2018 by the Far East and Baikal Region Development Fund (forms part of VEB.RF), Rusnano and RVC has announced the completion of the first two transactions worth of RUB 175 mln.
The Fund has extended funding to two companies from the Russian Far East:
As a result of the transactions, the Fund has acquired interests in the companies’ capital, no information concerning the size of the interests has been disclosed.
The portfolio companies will use the funds to upgrade their products by strengthening their R&D divisions and develop their businesses in Russia, including in the regions of the Far East. In particular, Hotlead and Visitech will open additional sales offices and R&D centres in Vladivostok on Russky Island.
“Over the last year, the Fund has put in a lot of effort by conducting a focused analysis of over 200 hi-tech companies doing business in the Russian Far East or intending to settle in the region and by creating a large project pool for inclusion into its portfolio. Hotlead and Visitech are already operating in the Far East, their advanced developments have a high potential for future integration in the local economy through digitalisation of the enterprises’ key business processes, and they will get a major boost from the Fund’s investments. By the end of the year, the Fund will finance yet another five or six companies in order to speed up the development of an innovation-driven environment in the Russian Far East,” said Ruslan Sarkisov, CEO of the Far East High Technology Fund.
Additional information about the Fund’s portfolio companies.
A business-oriented cloud telephony service with an integrated virtual telephone exchange, CRM system and telephone numbers in 115 Russian cities and 75 countries. The headquarters and the development team are located in Khabarovsk, with branches in Moscow, Vladivostok and Seoul (South Korea).
The platform has a multilingual interface and can be used anywhere in the world.
The company is based in the Far East (Khabarovsk).
Visitech develops and implements IT solutions for occupational safety automation, industrial and environmental safety using artificial intelligence and predictive analytics that makes it possible to minimise the probability of incidents. The company’s solutions meet the needs of any industrial enterprise, whether in the oil and gas industry, metalworking or power industry.
The company is based in the Far East (Yuzhno-Sakhalinsk).
The list of the company’s customers includes:
Magnitogorsk Iron and Steel Works PJSC
T Plus PJSC