Two venture capital firms have teamed to invest $60m Russia’s largest space technology investment fund, it was revealed this week. The fund, owned jointly by the state-owned Russian Venture Company (RVC) and the independent investment company Finematika, will focus on start-ups specialising in components and materials for use in spacecraft production. “The fund is directed at widening a bottleneck in Russia’s aerospace industry — a deficit of venture capital, which for projects in this sector is now practically nonexistent,” RVC’s investment program director Andrei Vvedensky said this week.
RVC’s Andrey Vvedenskiy
Source: The Moscow Times