RVC will be integrated into RDIF as part of a reorganization of development institutions
- Anatoly Braverman, First Deputy CEO of RDIF, will become the new head of RVC while retaining his current role at RDIF.
Moscow, November 23, 2020 – Russian Venture Company (RVC) will be integrated into the Russian Direct Investment Fund (RDIF) as part of a reorganization of development institutions announced by the Russian Government. Anatoly Braverman, First Deputy CEO of RDIF, will become the new head of RVC while maintaining his current position in RDIF’s top management.
RDIF will continue operating as Russia’s sovereign wealth fund under Federal Law on the Russian Direct Investment Fund.
RVC will operate with co-investment model for implementation of Russian and international projects attracting partners to joint funds, projects and companies. This model is successfully used by RDIF.
Within the co-investment model RVC will be creating joint funds with leading Russian companies and corporations to invest in promising technology projects. These funds will be created jointly with major Russian companies and business representatives as well as RDIF’s international partners. In particular, a technology investment fund is expected to be created alongside Sber and a number of other leading partners.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:
“RVC can play an important role in the implementation of the priority national development goals of the Russian Federation as a center of expertise in venture capital investment. The combined expertise of RDIF and RVC will help raise venture capital investments in Russia to a new level, intensify cooperation with major corporations and launch many promising new projects in the near future.”
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 RUB1.9 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 18 countries that total more than $40 bn. Further information can be found at rdif.ru
For additional information contact:
Arseniy Palagin Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41