Russia’s state-run ‘fund of funds’ RVC this month joined forces with Da Vinci Capital Management to create what it claims is “Russia’s first tech-IPO tech investment fund”. With RUB5bn (around $100m) of capital, the fund will invest in fast-growing high-tech companies with international development and IPO potential and will operate jointly with the Da Vinci PE Fund II for three and a half years, targeting mid-sized companies looking for an average investment amount of RUB 300m.
“The creation of this fund reflects the needs of the domestic capital market, whose access to the Western market is restricted,” said Da Vinci Managing partner Oleg Zhelezko.“We aim to support the national IPO market and to create a full-fledged ecosystem for innovative companies which remain opened to international investors,” he added.
RVC and Da Vinci Capital Management launch $100m high-tech investment fund
Da Vinci Managing Partner Oleg Zhelezko
Source: ewdn