RDIF, RTP Global, Elbrus Capital, Baring Vostok announce the creation of an investment platform
Moscow, June 5, 2020 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, RTP Global, Elbrus Capital and Baring Vostok, today announced the creation of a joint investment platform of up to $200 million. The platform will support promising Russian companies affected by the coronavirus crisis across a wide range of industries.
Target investments in a company are expected to be over RUB1 billion. The platform will maximize the participants’ professional expertise and provide support to growing companies with an effective business model.
The platform will provide mainly capital investments as this is one of the most popular forms of financing for companies that need resources due to the pandemic and its implications. The cooperation of key players in the private equity market and their experience will help support leading Russian companies with major growth potential.
The partners have already begun to consider a number of target projects in the retail, production of consumer goods and technological solutions, among others.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
“RDIF has a successful track record cooperating with Baring Vostok on various projects, and we are also delighted to combine our investment expertise with RTP Global and Elbrus Capital. The joint platform will support promising Russian companies and projects affected by the coronavirus crisis and become an important focus area for RDIF in its efforts to mitigate the economic consequences of the pandemic. Financial support provided by the platform members will enable companies to restore their positive dynamics and focus on the creation of new products and services.”
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. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.8 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn.
RTP Global is a Venture Capital firm focused on technology investments. RTP Global has invested in 90 companies founded in more than 10 countries across Europe, the USA, India and Southeast Asia in the last 20 years. Five early-stage investments became multi-billion public companies: Yandex, EPAM, Delivery Hero, RingCentral, and Datadog. Total assets under management exceed $2 bn.
Elbrus Capital Funds are leading private equity funds focusing on Russia and the CIS. The funds’ key investors are major international institutional investors and international development organizations. Total assets under management exceed $1 bn. Over the last 10 years the funds have invested in successful companies such as Mail.ru Group, HeadHunter, CIAN, Great Beer Holding, OSG Records Management, PickPoint, UTV and others.
Baring Vostok specializes in private equity investments in companies with high growth potential in Russia, Kazakhstan and other CIS countries. It is the most experienced private equity fund in the region. Over the past 25 years Baring Vostok funds have invested over $2.8 bn in 80 companies, contributing to the success of recognized market leaders such as Yandex, Tinkoff, Ozon, CTC media, VkusVill, Avito, 1C and others.
RDIF takes active steps to counteract COVID-19:
- RDIF and partners have launched the production of the unique Russian-Japanese EMG diagnostic system, which generates results in 30 minutes with a very high accuracy in both stationary and unmatched portable mini-laboratories. The Japan Bank for International Cooperation has joined the project through the Russia-Japan Investment Fund; EMG systems were used by the Ministry of Defence of the Russian Federation during its mission in Italy’s Bergamo and as part of efforts to help the Republic of Dagestan in the fight against coronavirus;
- RDIF and the ChemRar Group have started the mass-scale production of Avifavir, which has proven effective against coronavirus in clinical trials and received a registration certificate from the Ministry of Health of the Russian Federation;
- RDIF has launched a project to diagnose and detect pneumonia, including that caused by coronavirus, using CT scans combined with the Russian-UAE artificial intelligence (AI) technology developed jointly by Group 42 (G42), RDIF and Medscan Group;
- RDIF has provided support to the public in observing the lockdown restrictions and self-isolation regime, driving a several-fold increase in telemedicine consultations via the Doctis service, as well as in access and subscriptions to the ivi online media library, delivery of Elementaree meal kits and demand for products and services of other RDIF portfolio companies;
- The Mother and Child Group, an RDIF's portfolio company, has repurposed its largest clinical hospital Lapino to treat patients with COVID-19 symptoms.
- RDIF was one of the initiators of the Alliance against coronavirus, which also includes the Russian Union of Industrialists and Entrepreneurs (RUIE), Yandex, Mail.ru Group and the Rossiya Segodnya international news agency. RDIF is actively involved in key initiatives and charity projects.
Further information can be found at rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133