RUSNANO, Kazyna Capital Management (Kazakhstan), VTB Capital and I2BFHoldings set up a Russian-Kazakhstan Nanotechnology Venture Fund
RUSNANO, Kazyna Capital Management (Kazakhstan), VTB Capital and I2BF Holdings have set up a Russian-Kazakhstan Nanotechnology Venture Fund. The Fund’s target worth is set at USD 100mn. RUSNANO and Kazyna Capital Management are anchor investors, each contributing USD 25mn to the Fund. VTB Capital and I2BF Holdings are Fund Managers, planning to attract an additional USD 50mn – USD 100mn from private investors.
The Fund will operate for 10 years, attracting investments for breakthrough projects in nanotechnology and nano product implementation in a variety of sectors in Kazakhstan and Russia. The Fund aims to facilitate the transfer of cutting-edge technology, introduce new instruments of interntaional business cooperation and boost the financial infrastructure of the nanotechnology market.
Abay Alpamysov, Chairman of the Board, Kazyna Capital Management, notes that developing venture infrastructure in Kazakhstan is key to the support and fostering of the innovative environment. ”Attracting two expert companies to the new nanotechnology venture fund sends a positive sign to investors. A combined approach to management strategy and technology will aid the joint team in effective management as well as attracting additional investment to meet the target capitalization of the fund”, said Mr. Alpamysov.
Dmitry Pimkin, Managing Director, RUSNANO: “We are certain that managing companies will not only take an active part in selection and support of attractive nanotechnology projects in Russia and Kazakhstan, but also share their venture project roll-out experience to provide maximum return on capital for investors. The criteria for project selection are solid tech background and investment effectiveness”.
Read more: VTB Capital
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