Sistema and TUS Holdings to launch $100m Sino-Russian high-tech VC fund

Russia’s AFK Sistema and TUS Holdings from China are in talks over the creation of a venture capital fund to invest in high-tech projects, Vedomosti reported last week. The fund’s management team will be based in Beijing with an initial capital of $100m with TUS contributing 70% and Sistema the remaining 30%.
Launched more than 20 years ago, Tus-Holdings operates TusPark which is affiliated to Tsinghua University and which claims to be “the largest single university science park in the world.”
Over the past few years Sistema has been actively involved in a variety of high-tech investment projects and in 2014 paid $75m for a 10.8% share in the Ozon Holdings Russian e-commerce company. Late last year, its subsidiary Sistema Mass Media launched a venture fund to invest in domestic technological projects, and also created a $50m fund to invest in Indian startups.

Source: ewdn

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Sistema and TUS Holdings to launch $100m Sino-Russian high-tech VC fund

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