RDIF and Japan’s SBI Holdings consider joint investments in financial and biological technologies

Press release, 26.05.2018

Moscow, May 26, 2018 - The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) and Japanese corporation SBI Holdings, who has a 100% ownership of SBI Bank in Russia,will consider joint investments in the Russian fintech and biotechnology sectors. A corresponding agreement was signed today in presence of the Russian President Vladimir Putin and the Prime Minister of Japan Shinzo Abe.

The agreement will see RDIF and SBI Holdings create a working group to analyse existing projects and assess the creation of a joint investment fund.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

"SBI Holdings is a fintech market leader, specifically in its use of blockchain technology. This is in addition to its expertise in biotechnology. Our partnership with this company aligns with our desire to invest in the technology of the future. RDIF plans to increase the Fund’s share of technology investments to 25% in the near future."

Yoshitaka Kitao, Representative Director, President& CEO of SBI Holdings, said:

We are pleased to collaborate with the RDIF, the sovereign wealth fund of the Russian Federation, which has an extensive expertise in efficient asset management and vast experience of work on the Russian market. And we believe that with this partnership in investing into the financial and biotechnology sector, it will generally contribute to the strengthening of relations between Japan and Russia.

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

SBI Holdings was founded in 1999 and is a pioneer in the field of financial services in the Internet. The company created the world's first financial ecosystem in the Internet, offering online securities, banking and insurance services. In addition to financial services, the company operates asset management business with a focus on venture capital investments, as well as biotechnology-related business.

 

For additional information contact:

Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

 

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133